Home Buying in Milwaukee>Question Details

b94lover1, Home Buyer in Milwaukee, WI

When purchasing a property, is it best to purchase with your own (buying) agent ? Can you just purchase through the selling agent instead?

Asked by b94lover1, Milwaukee, WI Fri Feb 8, 2013

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What really matters is the quality of the agent you have an opportunity to work with. Their experience, skill, knowledge and attitude should be the deciding factors. If you have signed up with an agent via a buyer agency contract you are stuck with that decision so hopefully you made the right choice and have a good agent representing you. If you have not done that you will have plenty of opportunity to find someone along the way who has earned your trust. There are too many variables to have a single answer to that question.
0 votes Thank Flag Link Sun Feb 10, 2013
I think the best comparison to draw is to that of buying a car, which is something people do far more often than buying a house.

If you go to the listing agent to write the offer, it is like going onto the used car lot. The primary job of the salesperson you meet is to represent the car in the best possible light, tell you everything that is super-duper awesome about it and minimize the down sides. Then, when you fall in love with the car and go inside to purchase it. Then, the salesperson's job is to make the most amount of money for the seller, or dealership in this case.

If you hire your own agent, it is like going on the used car lot with a friend who is totally divorced from the emotion of the purchase plus knows a thing or two about the mechanical features and ratings of the cars (or at least knows where to look them up for you) and also used to sell cars himself so he knows how to negotiate and about how far to push the deal to get you the best deal possible.

Real estate agents are more regulated than car salespeople, and you are less at risk from getting the flim flam with them than on the used car lot, but you get the idea.

Most agents see more real estate transactions in a couple months than most people see in their lives. Why not take advantage of all that free knowledge and add a little more security to the transaction?

Best of luck,

Jeff
0 votes Thank Flag Link Sun Feb 10, 2013
Turn the question around - is it best to purchase through the listing agent, or can you just purchase with your own buying agent?
0 votes Thank Flag Link Fri Feb 8, 2013
Definitely work with your buyer agent. Your agent will work for your best interest whereas the listing agent is working for their clients (the seller"s) best interest. Good luck with your home search!:)
0 votes Thank Flag Link Fri Feb 8, 2013
Eric is right, some buyer agents have to prove themselves and often will be so aggressive they blow a deal. I would still recommend having an agent represent you. Take the time to ask around for recommendations and when you do talk to a buyers agent ask for client testimonials. Designations are great but personal recommendations are better.
0 votes Thank Flag Link Fri Feb 8, 2013
Here's another take on the issue: The listing agent knows the seller and what works best for seller and can often work the buyer requirements compatibly with sellers' needs. I have found some buyer agents to be so aggressive for their buyer's wants that they make a deal difficult for seller to accept. As agents, we all want to put a deal together that works for everybody so we should be looking for common ground, not trying to out-do the other side all the time. If you opt for a buyer's agent, make sure they understand that issue.
0 votes Thank Flag Link Fri Feb 8, 2013
I would recommend using your own buyer's agent to help you purchase a home. Good luck to you!
0 votes Thank Flag Link Fri Feb 8, 2013
Yes, because you then have representation at no cost. usually the seller has agreed to pay the buyer's broker commission. You can modify the Buyer's Agency form so the buyer's broker is only due a commission offered from the seller, so you will never have to pay your brokers commission.
0 votes Thank Flag Link Fri Feb 8, 2013
Hello There,

Generally speaking, it IS best for a buyer to be working with the guidance of a buyer's agent. Wisconsin law requires that a real estate agent represent either the buyer or the seller. If the seller writes the offer for you, you have no representation.

A buyer's agent can give you a professional opinion on the price of the property based on a comparative market analysis, can recommend and assist you with negotiation strategies for best price and terms, critiques a seller's property beyond disclosing defects, provides you with advice on writing the offer and negotiating items that are in your best interest....whew!! Those are a lot of benefits for you as a buyer...and at NO cost to you since both agents are paid from the listing agents commission.

Please let me know if you have further questions...I'd be happy to help! You can click on the blue "CONTACT" link under my picture, or contact me on my cell, listed below!

Best of Luck,

Kris Plechaty
First Weber Group Realtors
Cell: 262-720-5157
0 votes Thank Flag Link Fri Feb 8, 2013
B,

The listing agent can write the offer for you but remember they represent the seller, NOT YOU!

Working with a buyers agent you can have that agent negotiate on your behalf, prepare a market analysis of the property before writing, have them point out defects or possible deferred maintenance issues....all at no cost to you.

Definitely work with someone who has your best interests in mind!

Troy Miller, ABR, RNG
Total Realty LLC
414-333-3723
troymiller@totalrealty.com
http://www.totalrealty.com
0 votes Thank Flag Link Fri Feb 8, 2013
Either way works. Things to consider are 1. the listing agent has been employed by the seller. Their loyalties are to be to the seller. That being said, they may be able to work as your buyer agent as well in which case they are straddling the fence as far as loyalty.
A buyer's agent is to always act in your (the buyer's) best interest.
An experienced buyer can probably protect themselves and working with the listing agent is just fine (happens all the time).
If you are an inexperienced buyer I would not recommend you go it alone. Get a reputable, experienced Buyer's Agent who you trust to work with you. The commission is typically paid from seller proceeds so you generally do not have any additional out of pocket cost than you would have working with the listing agent. For more information on buyer agency contact me directly and I can give you more items to consider.
rmoen@remax.net
0 votes Thank Flag Link Fri Feb 8, 2013
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