If you're thinking that you'll be able to negotiate a lower purchase price on a home in Boca Raton in today's market, the answer is, "To some extent." If you are also thinking that you will be able to further reduce the price by the percentage that the buyer's agent would be paid, then your answer is a resounding "No."
That is because the seller's agent will collect the entire commission on the sale of the Boca Raton home you are thinking about purchasing.
Also, bear in mind that the seller's agent with whom you may be negotiating works for the seller. He or she does not have your best interests at heart. So while that Boca Raton real estate agent may work with you to lower the price by some small amount (which is expected in today's market), that seller's agent is not going to work very hard on that discount.
A buyer's agent, who costs you nothing (because buyer's agents are paid by the seller) works for you, the buyer. It is your buyer's agent's job, and also a point of pride, to help you, the buyer to obtain the best possible price on your new home in Boca Raton.
Is your buyer's agent smarter than you? No. Is your buyer's agent financially savvy? Maybe and maybe not. Is your buying agent more experienced that you in negotiating the price of homes? Probably. But most important, does your buying agent care about the seller's feelings or the seller's agent's feelings? No, because your buyer's agent has no emotional involvement with the house in Boca Raton you are looking at and has no obligation to the seller.
Your buyer's agent, who is working for you, is focused only on making sure you get the best possible price on this house in Boca Raton.
And, if for some reason the deal does not work, your Boca Raton buyer's agent is able to locate several other homes for you, thus saving you the time and effort of calling a couple of dozen seller's agents.
In addition, your buyer's agent saves you time and energy because that agent sorts through listings to make sure you're looking only at homes you want to see, and your agent brings you to five or six homes at your convenience, instead of your having to meet with scores of seller's agents at different times and days of the week.
If you're still looking for homes in Boca Raton, consider using a buyer's agent. He or she can help to make your home buying experience much better that it might be on your own.
Marc Jablon, The Jablon Team