Home Buying in Jupiter>Question Details

Bob, Home Buyer in Jupiter, FL

In striking the best deal, is it best to work directly with listing agents or a single realtor?

Asked by Bob, Jupiter, FL Fri Apr 11, 2008

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13
Hi Bob, I suppose your question was in regards to the brokerage relationship that the real estate agent would have with you and in which position he or she would carry your best interest with the options of:

1 - Being a transaction broker working with both you and the seller
2 - A buyer's agent working only with you

It is a tricky situation to be representing both buyer and seller on the same transaction, but keeping the transaction's best interest to close, a Realtor should be good enough to perform.

I would suggest that your buyer's agent would be in a better position to carry your "best" interest.

Thanks for the interesting question. You can find my contact information at http://www.karinaleal.com
Web Reference: http://www.karinaleal.com
3 votes Thank Flag Link Fri Apr 11, 2008
Neither. You stand the best chance of striking the best deal by working with a good buyer's agent--someone who will represent you and negotiate for you. And someone with negotiating experience.
2 votes Thank Flag Link Fri Apr 11, 2008
Don Tepper, Real Estate Pro in Fairfax, VA
MVP'08
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Well Bill, it may be legal in your state to work with both the buyer and seller, but not in all states. Many states have seen the inherent conflcit and have drafted laws prohibiting or regulating it's practice.
0 votes Thank Flag Link Sun May 25, 2008
Bob,
From a practical stand point......To me it seem to be a bit of a "conflict of interest" to work with both the buyer abd seller. It's done all the time.....it's legal....but I would prefer to work with some one that I knew had my best interests in mind.
0 votes Thank Flag Link Sun May 25, 2008
Bob
There are probably more than one property that may meet your requirements when searching on line. If you select a single realtor and share your findings with them as well as your search criteria they should be able to review your choices and perhaps suggest a few more that might be of interest. They can do all the legwork and schedule the showings as well as negotiate the offer and handle the closing process on your behalf. You will certainly get a more objective view this way.The listing agent wants to sell the property they have listed if at all possible. If you go from listing agent to listing agent you will be working with someone whose main responsibility is to sell that home.
Web Reference: http://scottewarner.com
0 votes Thank Flag Link Fri May 23, 2008
A bit off topic, but there may be more to it than the "best deal". During your search, you'll get the best service and not have to answer the same question a hundred times and work around several agents' schedules to see properties if you select just one agent to help you locate properties, determine their market value, arrange showings, and then finally negotiate and present contracts and manage the transaction to closing.

You really need to make the decision *before* you find the home, so if you include the above in your decision making it seems clear to me that having one person to help you is better for you. There should be nothing preventing that agent from getting you a great deal. And if you do that up front, you'll be able to interview several agents and choose the one that can best represent you and understand your needs.

(Many buyers make this decision half-way through the process, after they have called a few agents and are getting tired of the mortgage qualification questions...so they usually wind up with the next listing agent they call. Since agents aren't all the same, you may not get the best one for you...)

I can match buyers anywhere in the world with a good, experienced buyer's agent through my network -- as can many other agents.
Web Reference: http://RogerTheriault.com/
0 votes Thank Flag Link Thu May 22, 2008
Look for someone who will represent your interest only. The listing agent owes a fiduciary duty to the seller and will not be working in your best interest. Someone earlier said to look for an exclusive buyers agent and that's your best advice.
0 votes Thank Flag Link Wed May 21, 2008
Interview Realtors, ask for recommendations from friends. It is always better to work with a Realtor who understands you and your needs and is working hard for you. But, if you commit to the Realtor and the Realtor is committed to you, do not jump ship mid stream and go work with someone else.
Web Reference: http://www.Keys2Fla.com
0 votes Thank Flag Link Wed May 21, 2008
Guru, the "Dual Agency" issue has been addressed in Florida with a "Transaction Broker" notification, which must be delivered "at first substatiative contact". However, come July, Florida Realtors will be deemed to be Transaction Brokers, unless they specify otherwise.
0 votes Thank Flag Link Fri May 2, 2008
"-----work directly with (Listing agents) or (a single realtor) ?. Being a little more specific would have helped. As I see it there are two different issues.
First. Working with a Listing agent will result in a "Dual Agency" http://www.realestatelawyers.com/Dual-agency.cfm. This link will help understand the defination and implications of a dual agency. You may consider having a Relator represent you.
Second. Working with a single realtor. My personal opinion is you short list, test and interview a few realtors ask your friends and collegues also to reccomend a few realotrs. At some stage you may wish to go along with a single realtor, thats only after you are satisfied that the realtor Listens to you and understands your needs and requirements and mutual trust has been established. I have seen a few buyers juggle around with 2 or more than 2 realtors. Seek advice from a Realtor and then take your own decison. Contact: http://www.UMeandRealEstate.com
0 votes Thank Flag Link Fri Apr 11, 2008
Hi Bob -

Developing a relationship with your realtor is paramount as this enables you to feel at ease while going through the steps of the purchase transaction. Many real estate agents will tell you that you can get a better deal if they "do both sides." IN this case some owners may have a stipulation in their listing agreement stating that if their listing agent brings in a buyer they can then pay a reduced commission. This will of course benefit the seller/owner but in reality, if you make the connection with your agent...be it the listing agent of the property or another agent you contact to assist you in your purchase...the connection is what matters. Trust, integrity and of course knowledge of the area/market is essential in choosing your representative.

Please feel free to contact me if you'd like more information on some of our wonderful homes here in the Jupiter area! My family and I live here and have found it a wonderful community to work, play and prosper!

Debbi Shattow, The Shattow Group/Whelihan Team Realty http://www.TheShattowGroup.com.
0 votes Thank Flag Link Fri Apr 11, 2008
IF the listing agent is a single agent for the seller, you need representation with another realtor who will be dedicated to YOU and not to the seller. YOU can go to http://www.MarilynJacobs.com and look at two pages - under FREE REPORTS, check off reports you would like to have emailed to you. I suggest WHAT IS THE ROLE OF A LISTING AGENT, so that you see some of their obligations to their seller. It mentions NO OBLIGATIONS TO A BUYER. You can also EXPLORE THE AREA that you are interested in on this site, and if you are selling a home, read MARKETING PLAN to see what listing agents SHOULD BE DOING. If you would like any assistance or other information you can reach me at marilynfjacobs@gmail.com - no obligation, though I'd be happy to find you the home of your dreams and to sell your home for you.
0 votes Thank Flag Link Fri Apr 11, 2008
I think that all depends on the seller that you are working with and not so much the Realtor. The Realtor can help but the final choices are made by the buyer and seller.
0 votes Thank Flag Link Fri Apr 11, 2008
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