Recently I've observed a trend among buyers that is difficult for me to understand. I assume they are getting advice from some internet or TV guru. I'm going to take a few minutes to explain how a buyer's agent is compensated and what they are getting paid for.
I had a client ask me almost immediately after the introductions were made if I would rebate my commission back to them at closing. Really? You want me to work for free? (And no I'm not making this up!) Or I'm finding buyers not wanting to use a buyers agent at all. Somehow they think they are saving money, after all the only thing a agent does is let you in the front door right? I mean hey anyone can search online for property, contact the listing agent and buy from the friendly listing agent who answers the phone! Well lets look at some of these issues.
My value is not so much in finding and showing homes, no doubt a large time consuming part of the job, but in my representation of your interests. My job is to protect you through the whole process. Were is the property located, is there a home owners association and what are the restrictions? You buy your home on your own only to find out you can't park your boat or RV on your property, how happy are you now?
Also price negotiations; Is the listing price above or below market value? You asked the listing agent to knock the price down because you have no buyers agent, only to learn much too late that the house was over priced to begin with and you still paid too much. Did you remember to negotiate a Home owners warranty, option period? Did you have the home inspected first? How well did you do negotiating the repairs? Did you lose the home of your dreams because you negotiated for too many repairs or low-balled the price?
Keep in mind the listing agent works for the seller, no matter how friendly they are, they work for the SELLER!
Remember as a buyer my services to you are free, why would you NOT use a buyers agent? My commission is paid by the listing broker and represents a very good value to you.
Visit my website www.CedarParkFamilyHomes.com
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