Remember though that this is a binding agreement, but it is something you should have done from the start. If the property you have in mind turns out not to be the right property after all, you will then be able to put that agent to work finding the right house to call home.
Welcome to Round Rock! Great choice. In answer to your question, there are definite downsides working with the seller's realtor (listing agent). First of all, the listing agent's fudiciary responsibility is representing the seller and the seller's interests. That agent could not also represent you and put your interests first,,,it is a conflict. You must have your own representation , someone who puts your interests first and is committed to finding and negotiating the best deal for you. Plus, you do not pay commissions on the buying side. Most offices won't even permit this type of transaction. Please give me a call or email and I'm more than happy to answer any further questions or provide information that will help with your real estate acquisition. I would also be happy to represent you, if you and I felt it would be a good fit.
Hope to talk with you soon l and have a great day.
The seller's realtor's main mission is to sell the house. If they get another client out of it - great for them. But, they first and foremost have a duty to their selling clients to sell the house. If you tell them something that's "just between the two of you," it would be difficult for them to not tip off the seller if it strengthened the seller's position. Make sense?
However, if you have your own buyer's representation, then they would strictly represent you. Whatever you told them would be held in confidence because they are trying to negotiate the best deal for YOU. Kind of like an attorney.
If you were going to court, you wouldn't hire the same attorney to represent you that was representing the other side. Know what I mean? Not that buying a home is an adverserial position, just that it's a similiar relationship b/w client and professional. Does that help you kind of walk through it?
Let me know if you have more questions. Happy to help.
Realtors as buyers agent we are paid at closing by the seller on your behalf.
BTW: Don't sign any contract until you're sure what your doing. You may want to do a home buying workshop before going any further. Sessions are ofetntimes offered via local community development nonprofits, public libraries and colleges.
There's another possibility in Texas called Intermediary. That's when the same broker represents the Buyer and Seller, but can make appointments so that one agent in the Broker's firm represents the buyer and the other represents the seller. The agent appointed to you would offer you advice, opinions, look out for your best interest, etc.
I would be careful in talking to the seller's realtor. You may tell them something that they can use against you in negotiations. Hypothetically, let's say you tell the Realtor you really don't want to pay the $250,000 asking price for the home, but you would if you had to. The Realtor is going to go back to his/her clients and tell them that and suggest they stay firm at $250,000. However, if you said that to the Realtor representing you, he/she would not divulge that to the Sellers and strengthen your negotiating power.