Posted previously on Active Rain
We see many folks out there who simply do not understand the value of having a buyer representative to help assist in looking out for their, the buyers, interests… why is that?It seems sometimes, consumers feel that they might get a better deal when the purchase a house IF THEY USE THE LISTING AGENT. I must say, that I have not seen a buyer save any money without a buyers agent to represent them… So it cant be that they actually save any money… so why not use a buyer representative?
Consumers seem not to understand that the listing agent is by default looking to get the best price for the seller, so there is of neccessity a conflict of interest in this scenario: How does an agetn represent the interests of the buyer while also representing the interest of the seller? In short, in cannot be done. They may claim to represent neither party, but then what is the advantage to that? So now neither party would have a dedicated representative.
So still, I am at a loss as to why a buyer would not want representation that was for their interest EXCLUSIVELY. You see, many agents will say that they can represent the interest of both parties… they call this DUAL AGENCY. Imagine that? THis would be like having one lawyer represent both you, and the guy who hit you in teh car accident the other day… would you like that? Would you think that you were being well represented? Of course not… but then, why feel that you are being represented when the scenario is the same, but this time pertains to the purchase of say a $300,000 house? The house is likely to cost more than the car accident, yet when it comes to the car, we want our own representation… hmmm…
Buyers: Please visit our page that helps describe the benefits of a buyers representative, and read also the role of the listing agent… these articles apply nationwide, and what ever the name they call it, listing agents represent the seller, buyer agents represent the interest of the buyer, and dual agents exist in neverland, representing neither the buyer or the seller… yeah, right. There is a contract with the seller, and the lising agent gets paid based on maximizing the sale price.
Let us know if we can explain this better for you.
