My brain (probably falsely influenced by conspiracy attitude) does not understand the math.
If you have a buyer's agent and he is paid from sales then why should i not be skeptical that both of the agents ("buyer's and Seller's") will in fact like to see house being sold at high enough price so that they can get most out of it because their fee comes as % of sales price. So instead of 3% only for seller now sale price should also accommodate 3% for buyer's agent. Am I missing something ?
Best person to represent you is YOU.
The listing agent represents the seller and while it's legal in nearly every State for the listing agent to work with you directly, if you and the Seller are foolish enough to permit this all you do is make the listing agent smile as they know their working with two suckers and they get to keep all the money. Dual Agency (one agent working both sides of the transaction) clearly presents a conflict of interest and essentially throws both Seller and Buyer to fend for themselves and the agent the only one well represented.
I've attached a link below to one of my most popular Blogs on Buyer Brokering and how to find a good Buyer Broker regardless of where you are looking for a home, I encourage you to read it and wish you good luck and happy house hunting.
It is simply the agent letting you know their relationship with you, the consumer...Every agent has the ability to represent the buyer or the seller in a transaction. If you are a buyer, you would want the agent to represent you and would check where it says "buyer's agent." You will receive a copy of the Agency Disclosure ...
I don't know if you're speaking about signing an "Exclusive Buyer" agency agreement...that is totally different...that is a contractual agreement where you are signing a contract to buy a home only with that agent...I believe it is done that way in some states. In New York, it is not customary. You can work with many agents, that are buyer's agents, without signing a contract.
Although, when you find a good fit you might choose to work with that agent...Good Luck in your search!
The only two things I would recommend when working with a buyer's agent is 1. make sure they will take whatever the seller offers as their full compensation. 2. Do not sign an exclusivs agreement. Many buyer's agents won't work with you if you don't sign the exclusive agreement, but others will. The exclusive agreement binds you to that agent for the stipulated time period. If you get a lazy agent you'll be stuck, or if you and the agent just aren't on the same page you'll have to wait out the time period or reach an agreement with the agent you signed with.
Tom Brady SFR, e-PRO, SRES, GREEN, BPOR
Licensed Real Estate Salesperson
Notary Public, Retired N.Y.P.D. Lt.
#1 Listing & Selling Brokerage in NY
Charles Rutenberg Realty, Inc.
255 Executive Drive - Suite 104
Plainview, New York 11803
Buyers might need to work with an agent who has their interest at hand.
A buyer's agent's goal is to find the best home available to meet their client's
needs. You will be able to save money or get better information if they do no
use a buyer's agent. This is simply not true.
Licensed Real Estate Agent
Century Homes Realty Group
Direct Line: 347-932-0609
The Seller's agent has a fidcuiary obligation to the seller to sell the house as quickly as possible for the highest price; they will not be working in your best interest.
if you have someone to represent you, that is what they should be doing...helping you to negotiate the price in your favor and making sure they guide you to find complete information on the condition and title of the property.
Commissions come out of the sales price; you will not have to put your hand in your pocket.
Please have someone representing your interests!!!!
If you need further assistance, contact us at gail@GladstoneGroupRealty.com or call us at 631-425-6150.