You need a buyers agent to gather research, provide you with a fair market analysis so that you don't over pay or under bid, negotiate on your behalf and in your best interest and provide you with the tools to make a solid financial decision on what may be one of the biggest decisions you make in your lifetime.
Normally a buyers agent representation is at no cost to you as a buyer.
Hope that helps!
Thank you for asking. As a listing broker I love it when buyer's come directly to me. It's my job to get the house sold under the best possible terms for my seller. When I don't have another agent involved, my job is easier. That doesn't mean we lie, cheat or steal, it means we do a professional job, answer direct questions honestly, and keep everything in the best light for our contracted client.
As a buyer, you deserve your own representation. The seller has already promised to pay an agent to bring them a buyer, you won't save any money by not getting your own agent. In fact, as a buyer's agent my job is to represent my buyers and get the best possible terms for them. To inform and advise them of potential issues they need to be aware of and to negotiate hard on their behalf.
You will not pay more to have your own agent. Select an outstanding agent and there's a good chance you'll actually pay less.
I work for a RE/MAX office. It is really in your best interest to have your own broker. Our company frowns on duel agency because the job of the listing agent is to represent the seller. Remember using a real estate broker is at not cost to you and can save you headaches.
Your question, if when read to the end, presents the question, '"how much can we expect to pay?"
My peers got stuck on a differing line of thought. ------ The answer to your quest is..."The seller has ALREADY agreed to the fees they will pay. Whether you choose to have someone representing your or not will not influence what the "Listing agreement' already states. ----------- I know, we all like to save money. I do too! That's what gives my STAPLES REWARD card so much value....I save MONEY!.--------------You may be presented with the illusion of saving money via the "Kickback or Rebate" offer. All of these fail to make clear to you what you will be forfeiting.-------------- Any agent can construct the illusion that you are saving money in the situation you describe. However, you can not see, nor can you know, nor have you the experience to know what is happening behind the curtain. That is why it is so wise to hire someone (who is paid by the seller) to protect your best interests and who has your back. You will not save a dime and you will not pay more than you expect. (inspection, appraisal, finance fees, etc) ---------------- How will you know if you are being pillaged and plundered? Those who do this dozens of times every year, know what the rates and fees 'could' be. Everyone likes saving money. However, if you save too much, it starts costing you money. In this case, the fee has been PREPAID to protect you. (of course this depends on the property you select)
Feel free to contact me should you need any assistance.
Even when you have your own broker it's still not really in their interest to get you the best price. They are compensated based on a percentage of the purchase price. So like for the seller agent, the buyer agent And like the seller's agent, your agent is anxious to get the deal done and move on to the next one. A $10K difference to you might be a big deal but it's a small differential in the commission payment to the broker.
Ultimately it's your responsibility to understand the sales comparables when buying (and listing) a property. An agent working for you can be helpful in the mechanics of the home purchase and especially valuable if you've never purchased property before.
The listing agent works for their client, the seller, NOT YOU OR YOUR BEST INTEREST.
The listing agent can perform ministerial acts on your behalf. Ask for the sheet that lists what they can and can't do for you. Once you have all the facts, The decision should be easy for you to make from there.
Now why would a listing agent tell you there is a benefit to the buyer to engage in a dual agency situation. It's simple....they get to collect the commission from both sides of the transaction. DOUBLE MONEY! Make no mistake. There is a real benefit for not going with the listing agent......Bill
Regardless of whatever you may get told by agents swearing up and down that "Dual Agency" is the way to go, stop and ask yourself how one agent can possibly do what is in the best of interest of two parties who have diametrically opposed positions. Dual Agency clearly presents a conflict of interest and I have long argued that it should be prohibited. Every State Real Estate Commission was set up for the purpose of protecting the consumer, yet every State Real Estate Commission has caved in to the lobbying efforts of the big national real estate firms who wanted an end run around true buyer side brokering when it frist came into being in the early and mid 1990's. Do yourself a huge favor and find yourself an experienced buyer broker. For more on the subject of Agency read the link I've attached below.
Best of luck.
There is one commission. When there is one agent they get 100% of the commission. When their are 2 agents, the split it, usually 50/50. You save neither you nor the owner anything by not brining an agent. You just make it easier for them to get their way and their agent gets to keep more of the money.
If anyone offers a rebate, always ask yourself. Why do they feel they need to offer a rebate in order to compete with other brokers? There is usually a reason they offer the rebate, and you don't want to figure that out the hard way.
Feel free to contact me after talking to some other buyer brokers in the area. There is a differance between the "corporate" brokers and the boutique-style brokers. Most of my clients enjoy the journey and become friends that talk years after the transaction closes.