Work with someone who has your best interests in mind.
There is a big misconception many buyers have about a listing agent.* The listing agent is the Seller’s Agent, AKA, the agent selling a property. Before calling the name of the agent on the sign, keep in mind that whatever you say to him or her, has the potential to get back to the seller.
In the past, when you worked with an agent to buy a home, that agent almost always was employed by the seller. Its possible that you and the seller’s agent may have worked closely together. You may have even shared financial and personal information with that person. But he or she had a fiduciary responsibility to always act in the best interest of the seller.
You have the opportunity to have your own Buyer’s Agent when you buy a house. Just because one particular agency is selling the home, it doesn’t mean you have to work with that agent or company. It’s very common for the buyer and seller to each have their own agent. So many buyers do not take advantage of this! A Buyer’s Agent is responsible only to you – not the seller.
Under this relationship, a Buyer’s Agent can do all of the things listed below:
| Services and Duties Provided: | Seller Agent | Buyer Agent |
| Arrange property showings | √ | √ |
| Assist with financing/lender recommendations | √ | √ |
| Provide property data | √ | √ |
| Explain forms and agreements | √ | √ |
| Monitor closing | √ | √ |
| Provide access and comps of the entire market | √ | |
| Promote & protect Buyer’s best interest | √ | |
| Negotiate the best price & terms for Buyer | √ | |
| Point out reasons not to buy the property | √ | |
| Be loyal to only the Buyer | √ | |
| Keep Buyer’s bargaining position confidential | √ | |
| Provide anonymity, if desirable | √ | |
| Put the Buyer’s interest first during the entire process | √ |
The next time you find the perfect house on Zillow, don’t rush to call the listing agent. Talk with your family and/or friends and ask them to refer you to someone they trust. You can move forward knowing your best interests are in mind when you have a Buyer’s Agent helping you.
* Disclaimer: This article is for entertainment purposes only. Information on this site is solely for entertainment, and should not be substituted for legal, financial or tax advice. By entering this site you agree to be responsible for actions you take without proper financial, legal or tax advice.
