Think Twofold Before Believing A Seller s Realtor

Author : Bella KelloggLots of people shopping the real estate marketplace, looking for their ideal residence, make a very frequent error by not hiring their own real estate real estate agent Many home hunters don’t recognize the repercussions of opting not to use a buyer’s realtor They see nothing wrong with calling the listing agent of every property they’re interested in

In fact, there is a mistaken belief that going through the seller’s real estate agent will get the buyer a better deal Needless to say, this isn’t accurate A buyer’s real estate agent and seller’s agent will most often split the commission down the middle The seller’s real estate agent just gets 100% of the commission when no buyer’s realtor is present Even when a buyer’s realtor requires a down payment for their services, this is usually credited towards the eventual closing costs So having your own real estate agent basically costs you nothing additional

The most important thing that home hunters fail to recognize is a real estate real estate agent, unless specifically functioning as the buyer’s agent, has the seller’s best interest in mind, not the buyer’s They have a fiduciary responsibility, in other words, a legal responsibility, to act within the best interest of the seller It doesn’t matter how helpful and nice they appear to be They are in the seller’s corner - not yours

For example, let’s say the seller’s realtor is helping you set up your preliminary offer on the home While you’re discussing the matter, you nonchalantly suggest that you’d be prepared to go $10,000 higher than what you’re offering, but you’d like to start low to feel the situation out

Seems above suspicion enough, right? Well, keep in mind that the seller’s realtor has a responsibility to the seller who hired them and are required by law to divulge anything that they and a probable buyer discuss

The agent may spend a lot of time with you, showing you other houses that they have listed, helping you prepare your offers, but their allegiance is with the seller unless they are employed as your realtor

And don’t just assume that they’ve indirectly become your "buyer’s real estate agent" because they are showing you other homes that they have listed Even when a listing agent of another home seemingly takes an interest in your situation and shows you other homes on the market, more times than not they are showing you buildings in their portfolio that they have listed They are still working as the "seller’s realtor" on these properties and have more of a commitment to the seller than you

However, with a buyer’s real estate agent, you have more control when it comes to finding a home that suits your specific criteria A buyer’s real estate realtor or broker can show you any home that you’re interested in This means that residence seekers can view a better sampling of the market and a variety of listings that aren’t just limited to one real estate real estate agent

A real estate real estate agent dedicated to serving your needs and interests is an undeniable asset They can advise you of potential issues with the house (something a seller’s agent isn’t always forthright with) and help you with negotiating and understanding purchase agreement language

Just keep in mind, regardless of whether they are your agent or the seller’s realtor, a real estate real estate agent is a sales person They make their funds when they sell you a property and because of this their objectivity can always be subject But, if you’re dealing with a seller’s real estate agent only, it’s critical to always take into account that you can’t afford to be too unguarded or frank with them A seller’s real estate agent is more or less a spy for the seller - and it’s completely legal
Bella Kellogg is a Conn. native, along with an advisor to CT Real Estate websites, including an MLS listing and, CT House for Sale Site, and is additionally a contributor to the site, Real estate For Sale in CT.

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