As A Homebuyer Do Not Ever Call The Listing Agent.
There are many misconceptions in Real Estate. One of the biggest misconceptions is that you will save money if you call the listing agent and view the home with them and make an offer with them. WRONG .
When a Listing Agent signs a contract to represent the Seller, they agree to a total amount of commission. In that contract they agree to split in some percentage a large portion of that commission with the Buyer’s Agent who brings the buyer and works on the Buyers behalf. The amount of commission in that contract is binding and if the home sells that full amount will be charged whether there is one agent or two agents. If that commission is being paid regardless don’t you think you should have your own representation through the stressful process? It is not wiped away because you didn’t bring and agent or because you used the Sellers Agent. It still needs to be paid in full per the legal and binding contract.
The Listing Agent will always and forever have the best interest of the Seller. Meaning they are trying to get the Seller the best possible offer. Highest price, best financing of the buyer, less work or money out of the Sellers pocket for inspection items etc…
So if you use that Listing Agent who has the best interest of the Seller to also represent you, which is illegal in 9 of 50 states, how are you saving money? How are you fairly represented and who is watching out for your best interest? Nobody. This is where the Buyer Agent come is to play.
If you are looking to shop for a new home, whether it be in my Nashville Real Estate market or the market where you live please do yourself a favor and find a Buyers Agent that has your best interest and will fight to get the best possible outcome from your purchase.
Listing Agents and Buyers Agents are usually the same person just wearing a different hat per transaction or per clients needs. I myself List homes in Nashville and have the best interest of my Sellers every time and I also work with Buyers looking to purchase homes in Nashville and have their best interest during that purchase. I will not work on both sides of the same transaction as I personally don’t think it is ethical. How can I get my Nashville Home Seller the highest price when I am also trying to get my Nashville Home Buyer the lowest price, all along knowing the where each of them is willing to go?
There is also another important piece of information when looking to buy a home. Whomever the Realtor® is that shows you the home is the agent you have to use to purchase the home if you decide that is the one for you. It’s a law called Procurring Cause. Here is the definition. The “pro
Dual Agency
curing cause” of a real estate transaction is the agent whose actions and efforts result in the sale of a property. It’s the agent who ultimately caused the buyer to purchase the home. As such, that agent is entitled to compensation in the form of a commission.
Do your self a favor and interview Buyers Agents prior to starting your home search. Sign a contract with them and be loyal. If you do that they will be loyal to you and have your best interest for everything involving Real Estate. You can always get out of that contract If you are unhappy and find another buyers agent.
