True or False: Working with the listing agent will get a buyer the best deal.... FALSE
When a buyer starts to look for a house, they start on the internet, news paper and in the real estate magazines. This is just the beginning of the job of buying a home...the most expensive purchase of your life.
The buying process is very long and complicated...things have to be done in a certain order, some things take longer to get done and have to be ordered before others. You have to be familiar with the process and the requirements of the mortgage company, county/city requirements for you to occupy a home and just general things that have to be done before the house will be yours. Working without an agent to represent your interest as a buyer is foolish and can be quiet expensive.
The seller has an agent to protect him/her from the buyer and all their demands. The seller has already signed a contract agreeing to pay the agent and on what terms that agent can pay another agent--not the buyer. Just because you buy through the seller's agent, does not mean the seller's agent will give up the commission. They are doing twice the work, they expect the amount that they had negotiated with the seller, it is earned when you sign the contract to purchase and you, as a buyer, are not a party to the listing so you cannot take away any part of the commission.
The best bet is to hire someone who is responsible for protecting you, making sure you get what you pay for and that in the end you do not regret buying a house. When you sign the Exclusive Right to Represent-Buyers Agent contract you agree to
1) Supply information in a timely manner to attorneys, bankers, and to your agent. No Secrets here
2) Follow simple instructions from your agent that will help you purchase the house you want. Please do not question or delay the process by not doing things that need to done. You have a certain number of days for inspections, repairs and due dilegience.
3) Stop shopping for an agent, you do not go to open houses without telling the agent that is present that you are represented nor do you go to a builder's model without telling the agent on duty that you are represented.
Please contact us if you have any questions or comments.