Jul 9 2017 38376 2

Dated: July 9 2017

Views: 233

Buyers Advice: Who’s Got Your Back?

If you’re like some buyers, you may be shopping for a home to buy without a real estate agent of your own.  You don’t trust agents, and you want to shop on your own time at your own pace without some agent pressuring you to buy something you don’t want.  They’re just salespeople right?

WRONG. A salesperson owes you service, but not loyalty, while a real estate agent owes loyalty to whomever they’re contracted to serve.  In most cases that’s the seller.

If you call the listing agent on a property, go to see the property and decide to buy it, don’t expect the agent to represent your best interests.

Here’s how it really works.  The listing agent represents the seller in a transaction and always has the seller’s best interest in mind.  Anything you say to the listing agent is not protected and can be used against you in a negotiation.  For example, you might inadvertently tell the agent that you’re relocating and have to find a home to buy in the next week.  So when you make an offer, the seller’s agent may tell the seller that you’re motivated to buy quickly, making the seller less likely to lower the price. 

If you don’t know that, you may also not know that you can hire your own agent who will have your best interest at heart and at no additional cost to you.  Like the seller’s agent, the buyer’s agent is paid out of the transaction proceeds.  A buyer’s agent represents you, the buyer, through the entire buying process by helping you get pre-qualified for a loan, negotiates price and terms of the purchase agreement, helps the buyer fill out all the disclosures properly, helps through the home inspection process and is also there after the sale is completed to take care of any problems that may arise.

For more information about how a real estate agent provides benefits through the home buying process, please contact Jack Lees at 818 262-0924.

Latest Blog Posts

Jul 2 2021 38376 2

House flipping hits lowest level since 2000Only 2.7% of all home sales in the first quarter of 2021 were flips — or one in 37 transactions, the lowest level since 2000.Per a report fromATTOM, a

Read More

Jul 2 2021 38376 1

Top 10 Issues Affecting Real Estate in 2021Remote work and mobility are expected to have the most significant impact on real estate over the next year, according to The Counselors of Real’

Read More

Jun 6 2021 38376 2

7 Ways to Get That Downpayment:  Watch my video HEREBuying a home has always been a dream.  If you’re a first time home buyer, an FHA loan may be your best bet only having

Read More

Jun 6 2021 38376 1

10 Mistakes Homeowners are making Around the House1. Using Traditional Light bulbsIf you still have incandescent light bulbs in your home, you could be throwing a lot of money away every month on

Read More