Home Selling in Cambridge>Question Details

Dm, Home Buyer in Somerville, MA

Should I use the same agent to sell and buy?

Asked by Dm, Somerville, MA Wed May 7, 2008

I found the dream home, but need to sell mine first. Obviously I want to close on mine as soon as possible in order not to lose this opportunity. The agent who is representing me for the purchase has proposed that he handle the sale as well. Is it a good idea to use the same agent? I expect he'd be twice as motivated to close these deals.

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I agree with Eileen, is he the best BUYERS AGENT for you? We see this all the time ... and actually we get calls about this all the time (got one yesterday in fact) ... People often feel this sense of guilt or obligation when it comes time to buy and their listing agent has suggested they use his/her service, or a family member who is an agent suggests you use his/her service because they "have your best interests in mind," but the reality is this is not a personal relationship purchase, it is business transaction where thousands of dollars are on the line. it is, in fact, one of the biggest financial investments you will ever make and you need to find the best BUYERS agent. So, before you sign on with your listing broker, I would at the very least, suggest you do some homework on alternative brokers. That way if you end up choosing your listing agent you know you have done all the educating you could possibly do.

Again, Sellers Agents and Buyers Agents require two different skill sets because they are two different types of transactions:

Sellers agent should be:
A great marketer
Good at staging
Great at pricing
A very effective salesperson

A Buyer agent should be:
an effective consultant and educator
great at market data analysis (including local trends, absorbtion rates and property comp's)
A fantastic negotiator (working hard to get you the best and lowest price)
Someone who can identify property faults

I am actually curious as well about how you found the other house. Did you see it on your own at an open house or did your listing agent show you the property (is it one of his/her listings?) ? Or is it a neighbors/friends or FSBO?

Good luck and definitely don't feel obligated in any way to use your listing agent as your buyers agent. Do some research and find out your options before locking yourself in to this other agent.
0 votes Thank Flag Link Thu May 8, 2008
A deal is a deal, so it probobably doesn't matter to the agent if he does two with you, or spends his time doing one deal with you and another one with somebody else. I mean that he has to work just as hard and spend just as much on advertising to sell you home whether he is helping you buy the next one or not.

The real question is whether he is the BEST agent to sell your home. Does he know the area well? Does he have a good track record for getting his clients to list properties at the right price so that they sell in a reasonable amount of time? Has he been efficient and attentive as he has worked with you to find the home you want to buy? Is he in the business full time, and has he been in business long enough to have built up some proficiency in handling the tough situations?

You will probably think of some questions of your own, but these should get you started. If you like the way he works and have a good level of trust with him, then why not let him list your home as well as find you the new one? You won't have to spend as much time coordinating the transactions. It won't cost you any more or less than having two agents. But I wouldn't expect him to give you a "volume discount " because he still has to do both of the jobs, and to do them well if you are to have a successful move.

I am just curious as to how you came to the decision to find your next home before you put the current one on the market. Maybe some of our other bloggers will have some thoughts on that.

You have done well to consider carefully! Selecting an agent is pretty serious business. Best of luck with the purchase and sale.

Of course if you do decide that you need a different agent to help you sell do give me a shout!

Eileen Musser, GATEWAY REALTY, serving York and Lancaster, Pa
0 votes Thank Flag Link Wed May 7, 2008
I agree he would be extra motivated to get yours sold! In order to sell your as fast as possible, given the current market conditions in MA, I would suggest you price accordingly. Lately around here the homes that are selling the fastest are the ones priced most aggressively. You may feel a little pain by selling for less than you probably want to, but you will most likely make it up when you buy your "dream home". Don't mess around with the sale of your current home, as the dream home on the other end may sell before you get yours under agreement. As long as the agent is an established, reliable market professional you should feel comfortable working with him on both ends of your next real estate move. PRICE YOURS AGGRESSIVELY!!! I can't say that enough. Sellers of mine just lost out on a "dream home" they wanted because their current home is still priced a little high and is lingering on the market. Get it sold, and get your "dream home". Let us at Trulia Voices know how it goes! Good luck!
Web Reference: http://www.14sanford.com
0 votes Thank Flag Link Wed May 7, 2008
Absolutely! Your agent knows the status of both contracts and can coordinate accordingly. It's not a conflict of interest, as some people seem to think. Your agent has a duty to put your best interests at heart in both buying and selling. The answer based, of course, on the assumption that you trust your realtor!! And yes it's a great motivator! Best of luck getting your dream home!!
0 votes Thank Flag Link Wed May 7, 2008
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