Why Buyers Need Their Own Agent in Today’s Market

For most buyers, searching for a new home begins Online. Sites such as Zillow.comTrulia.com, and Realtor.com get their data directly from local Multiple Listing Services (MLSs). Typically, when a buyer sees a property of interest, they often contact the listing agent for additional information, or to arrange a showing. Here is where buyer beware comes into play. That listing agent has a written contract with the seller to represent the seller’s interest in the sale, by attempting to sell the house at the highest price possible. When a buyer visits the property, they will be required to sign a NYS Disclosure, indicating that the listing agent will now be a Dual Agent, meaning they will represent both the buyer and seller. In such a case, the agent is prohibited from offering any guidance or help in the negotiations when a buyer wants to make an offer. If, on the other hand, the agent does not choose to represent both parties, then the buyer is considered a customer, and the agent will continue to only represent the seller. This leaves buyers without their own agent and representation. Not a smart move. Here’s a better idea. Rather than starting a search for properties in the area, instead search for an agent who is experienced in that market. They know the area, and very well may already know the properties. If they don’t have firsthand knowledge of a specific property, a Buyer’s Agent can preview homes, which saves a buyer time. When it comes time to make an offer, a Buyer’s Agent is very experienced in negotiations, and local market values, which can save buyers thousands in the purchase price. And finally, the Buyer’s Agents fees are typically paid for by the sellers. Now more than ever, with multiple offers very common, you should have your own agent. Don’t shop without one.
Good Luck!