Foreclosure in 91401>Question Details

Lga658, Home Buyer in 91401

If i have already found a home I am interested in & requested a showing from listing agent is it worthwhile to still hire a buyer's agent?

Asked by Lga658, 91401 Thu Dec 29, 2011

Pros? Cons?

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It is possible to gain some advantage by using the listing agent. Either in the form of a commission reduction or sometimes if the agent is good you may get a difficult deal closed that otherwise might not. BUT, and that is a big but. you are more likely to at the very best break even. Any gain you may get from the commision reduction is usually absorbed by weaker negotiations. And there is also the dilemma trying to decide if you gain the benefit or the seller gets the real reduction of comission. It usually becomes a shell game and the late comer, the buyer, usually loses. The listing agents first responsibility is to the seller and the buyers interests come second. If you happen by an honest agent, you wil be lucky. Find a good agent preferably from a trusted referral to represent YOU and you only.
0 votes Thank Flag Link Thu May 31, 2012
The reason people will risk going with the listing agent is because they want the listing agent to take a cut in their commission since they will be paid for doing both jobs. If you know the listing agent personally that may be a viable option for you.

The problem is they have a contractual obligation with the seller to get the highest price possible for their client. If you went with your own agent they could have potentially negotiated a lower price or other concessions that you may not get by simply just asking the listing agent to reduce their commission.

There are no guarantees either way. Find someone you trust that is honest and go with them weather they are the listing agent or not.

Good luck on your search for your Home!
0 votes Thank Flag Link Mon May 21, 2012
There really are no disadvantage to having a buyer's agent, he/she will look out for your best interest and the representation costs you nothing; keep in mind the seller pays commission, if two agents are involved in the transaction, the commission is shared--it would only cost you if you have an agreement with your agent to pay above what the seller is already offering.
0 votes Thank Flag Link Thu Dec 29, 2011
Yes. The listing agent works for seller and their job is to get the best price with the best terms. A buyer's agent will pull comparatives and negotiate for you. Plus, there's a lot that goes on when purchasing a home that a buyer's agent can help you through.

Good luck
Web Reference:
0 votes Thank Flag Link Thu Dec 29, 2011
Absolutely. You have nothing to lose and everything to gain: it doesn't cost you anything and may save you thousands. A Buyer's Agent will represent YOU in the transaction; the Listing Agent you're about to call is representing the Seller. If you were, say, in a divorce or other legal procedure, would you go without representation, or worse, use the other side's representation as your own? Buying a home may be the largest transaction you do. It's well worth it to have a strong, dedicated team on your side.
0 votes Thank Flag Link Thu Dec 29, 2011

Yes since Agent you hire is not representing the seller they are on your side.You will be in better place to negotiate the price and terms since you have your own agent. Think about this way you would not go to court and have the attorney represent you and the other party.

Neil Singerman DRE 01097970
Keller WIlliams Realty L.A. Westside
0 votes Thank Flag Link Thu Dec 29, 2011
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