Who Represents YOU the Home Buyer?
When looking to buy a house, many people want to talk directly to the listing agent. They believe they can make the best deal by going directly to the source. Keep out as many people as possible and you will save money.
A great idea when working with retail. A bad idea when working with real estate.
The question to ask yourself is "Who represents YOU, the buyer?"
Let's break it down by looking at 4 myths of looking for a house.
First some definitions:
Listing Agent - the agent who works for the seller, lists the house on the market and tries to get the best deal for the seller.
Buyer's Agent - the agent who works for the buyer to get the best deal for the buyer.
By Going Through The Listing Agent There Will Be A Lower Commission
And I Can Save Money
And thus a better deal. At least that is the rationale. However, the amount of the commission has already been agreed upon when the seller listed the house. The commission is actually IN THE CONTRACT. Whether there is 1 or 2 or even 3 or 4 agents involved, the commission will be the same. The number of agents only determines how it is split.
I Can Do Just As Good Working With The Listing Agent
Did you know that BY LAW, in the state of Alabama, the loyalty of the listing agent is to the seller? And if they do write up a contract for you they still owe loyalty to the seller!
Going into negotiations without a buyer's agent is like
going into a courtroom without a lawyer.
The loyalty of the listing agent is with the seller. They are going to work to get the best deal for the seller. They represent the seller.
But who represents you?
A buyer's agent BY LAW owes loyalty to YOU, the buyer. Their job is to help you get the best deal for YOU.
If I Go With A Buyer's Agent They Will Try To Sell Me Property I'm Not Interested In
The loyalty of the buyer's agent is with the buyer. Their job is to find you a house that is within your price range and meets your needs and desires. If they irritate buyers they will not be in business very long.
I Can Do Just As Good A Job Finding What I Want On My Own
With the advent of the internet, shopping for a house has changed drastically. Believe it or not, having all those choices to look at has actually caused most house seekers to take twice as long to find a house.
A good buyer's agent will know the different neighborhoods and what houses are on the market. This is their job. They are immersed in the listings. They have knowledge and experience in finding just the right house for you.
They will know what houses will work best for your financing options. For example, did you know that USDA will finance 100% of your house? That means NO DOWN PAYMENT! But it is only available in specific neighborhoods. A buyer's agent knows where those neighborhoods are.
You have to research and learn the knowledge a good real estate agent already has. Why re-invent the wheel when you don't have to?
Let us be your buyer's agent as you look for a house in Daphne or Spanish Fort. We will find the best house for you! Email or call (251-660-4586) us today.
Daphne and Spanish Fort Alabama Real Estate Experts.