WHAT'S IN AN AGENT, AND WHY YOU SHOULD CHOOSE CAREFULLY - PART 2, THE SELLER'S AGENT

As promised, today we are going to discuss the Seller's Agent, or as some of you may refer to us - Listing Agent.

The Listing agent represents the seller of a property.  I'll say it again, Seller's agents represent the seller of a property.  We are contracted by the home owner to sell their property for a fee, which is paid at settlement.   Having said that, the alarms should be going off as to why it is NOT in your best interest, as a buyer, to expect to get representation from an agent who is contracted by the seller to secure the best possible price for their home.  Is it okay to contact the agent on the sign in the yard for general information?  Sure, but don't expect they will be looking out for you!  Here it is in a nutshell:

• Seller's Agents or Listing Agents represent the sellers
• Buyer's Agents represent the buyers

You should always have your own agent.  This means signing a Buyer's Agency Agreement so you are represented in any and all transactions with regard  to your home purchase.  For the most part you as the buyer will NOT be asked to pay a fee for this service because the seller's agent does.  However, some agents that represent the buyer may request a fee under certain circumstances.  For example, say you are relocating to a new state and you need someone to drive you around the area and show you a few homes, talk to you about terms and prices--generally representing your interests as a persective buyer so you can take this information back to your employer or spouse for future consideration.  Then, there could possibly be a flat fee charged as a Buyer's Consultant.  Now, don't frown!  This is a good thing for you because you've just developed a repoire where you feel you can trust this agent to represent you when you are ready to move--and you will not be charged again.  To have your own agent is always a WIN, WIN!

In our next segment we'll discuss a thing called Dual Agency.  It's not pretty, but it can be done.  See you next time. 

Cheryl
Do you or someone you know need a REALTOR?  Give me a call.  I love referrals!
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"Efforts and courage are not enough without purpose and direction."

--John F. Kennedy