So you found a house you are interested in seeing. You’ve looked online, viewed the pictures and the virtual tour, you even drove by the house to check out the neighborhood. Maybe you’ve even done research on the local school system, access to medical facilities etc….Now what? Who do you call, the listing agent or do you find a buyer’s agent?
Some folks call the name on the sign or the listing agent! They view the house, maybe they even make an offer. In doing so however, they have made a huge mistake! A mistake that could potentially cost them thousands of dollars. Why? Well the listing agent works for the seller and has a fiduciary responsibility to the seller based on the listing contract. As a buyer what you say to the listing agent they must divulge to the seller. For example, if you say anything that could potentially give away your purchasing strategy or things you like or don’t like about the property that you would incorporate into an offer, the listing agent MUST divulge that to the seller. Once the seller knows what your strategy is they can adjust and that could cost you money.
Do yourself a favor that will pay dividends in the long run, hire a buyer agent, be fully represented. A buyer agent will advise you what to say what not to say during the home showing. They will also walk you through and create a strategy to try and purchase the home on terms favorable to you. Best of all the buyer agent is paid by the seller at closing, you do not pay a penny for the buyer agents service but get all the benefit of being fully represented in probably the highest dollar investment that you will make in your lifetime. Why would you want to be unrepresented?