Why would a homebuyer go behind the back of their real estate agent to contact the agent representing the seller of a property? The listing agent represents the seller and looks out for their best interests. In other words, their goal is to get their clients as much money from buyers as possible. Here are the most common reasons:
Buyers Don’t Want to Waste Their Realtor’s Time
People tell us they want to see our properties but don’t want to waste their real estate agent’s time. But, let’s not forget, this is what those real estate agents are paid for –it’s their responsibility and duty to you, the buyer (their client). In this scenario, you’re wasting the time of the agent representing the seller; someone you haven’t hired and who has no reason to look out for your best interests. So, you’re probably not getting the best advice.
Looking for a home can be a long and arduous process. Some buyers may think it gives them an edge to use more than one agent and increases their chances of finding their dream home, ultimately speeding up the process.
However, legally, real estate agents can’t communicate with people represented by other brokerages. It’s why when a potential buyer approaches a real estate agent at an open house, they’ll ask you if you’re working with another agent.
Will I Save Money Going Direct to the Listing Real Estate Agent?
Some buyers think they’ll save money and not hire their agent representation. In this case, their approach is only to contact listing agents. But remember, those realtors represent the seller and are looking out for their interests, not yours. As a buyer, it’s beneficial to have someone in your corner advocating for you. Also, IF –and we emphasize if– there is a commission reduction, wouldn’t it be to benefit the seller, not the buyer?
Check out this story of Adrian’s best friend who almost made a $170,000 mistake by going direct.
A realtor has the experience to know when a house is overpriced or underpriced. They can spot potential issues that you may otherwise not notice.
Buying a home is an emotional experience. When there are issues that require improvement, a level-headed agent can use their years of negotiating experience to have the seller make necessary repairs or lower the price of the home.
And then there’s all that paperwork that requires signatures, records, and multiple copies to keep track of. An agent does this for a living and can ensure that everything is signed, organized, and complete so there are no unwanted surprises in the final hours of the transaction.
A professional real estate agent can save you time and money in the long run. Find someone you can trust, make them work hard for you, and don’t cheat on them.