You can work with the listing agent of the property and sometimes that works out well. The agent would be what we call a dual agent in that case and would be representing you and the seller. If your OK with that and it's permissible with the state in your area thats fine. If want someone to only represent you then a buyers agent is your best choice. Normally any agent your work with other than the listing agent would be your representative. Most of the time you don't pay for that agent yourself, he/she gets paid from the seller through the contract they have with the listing agency. You can however have a buyers agent contract where you may have to pay some or all of the buyers agent commission. Most of the time this is not necessary.
All the best,
Listing agents like myself have happy, sugar-plumb dreams of buyers calling us directly.
Certainly there must be a warm and fuzzy feeling for these buyers who think they have somehow circumvented the process in place to protect them. I do, however, wholeheartedly support the right of buyers to put themselves in harms way.
There is only ONE situation where it proves to be strategically beneficial for the buyer to buy through the listing agent. This situation, if present, would most certainly have been included in your question.
Those rainbow emblazoned days are not so common in this market. You should be a rainbow maker and give those listing agents a call.
Hmmm, what will you do when you encounter the 'no touch' listing agent. There are an increasing number of them. They don't answer their phone and rely on existing 'no touch' scheduling. These properties are sold exclusively through buyer agents. No touch, is a valid business model and works exceptionally well for many very high volume brokers and agents.
Oh, are you aware by the time a listing appear on aggregate websites it has already been rejected by no less than three pools of buyers? How do you think those homes sold, that show only one day on the market? Don't let that concern you. These pools are for "A" and "B" list buyers and those who work within collaborative network are regionally active agents.
Why do I need a real estate buyers agent?
I do not believe there is a valid reason for you to have one.
However, most serious buyer will see the value not only in making their home search more efficient, but in the 'first look' capacity so many buyers need today and guidance in avoiding and/or resolving the predictable obstacles that plague every transaction.
Best of success in purchasing your Shelby Township home,
It sounds as though the laws in MI are the same, judging from some of the previous answers.
And as far as fees go............. once again, I am not sure about MI, but my buyer agency form only requires buyers to pay the co-broke if they decide to go for a FSBO, otherwise known as For Sale By Owner, and the FSBO refuses to pay a commission, which hasn't happened yet. Most FSBO's are thrilled to pay a commission if you bring them a buyer.
So if you decide to hire an agent to be YOUR AGENT, ask to review the agreement ahead of time. Take it to your attorney if you like. But for Pete's sake, get an agent to represent your interests. You will be much better off in the end.
If I had a dollar for every time a buyer contacts me about a "my" listing on Trulia AND that listing is either under contract or SOLD weeks ago...I'd have about $8,475. Maybe more.
Good luck to you,
Unwavering Commitment to Service, Unsurpassed Results
here are terms of each to better explain......
A real estate licensee can be the agent of both the seller and the buyer in a transaction, but only with the knowledge and informed consent, in writing, of both the seller and the buyer.
In such a dual agency situation, the licensee will not be able to disclose all known information to either the seller or the buyer. As a dual agent, the licensee will not be able to provide the full range of fiduciary duties to the seller or the buyer. The obligations of a dual agent are subject to any specific provisions set forth in any agreement between the dual agent, the seller and the buyer.
A seller's agent, under a listing agreement with the seller, acts solely on behalf of the seller. A seller can authorize a seller's agent to work with subagents, buyer's agents and/or transaction coordinators. A subagent of the seller is one who has agreed to work with the listing agent, and who, like the listing agent, acts solely on behalf of the seller. Seller's agents and their subagents will disclose to the
seller known information about the buyer which may be used to the benefit of the seller.
A buyer's agent, under a buyer's agency agreement with the buyer, acts solely on behalf of the buyer. A subagent of the buyer is one who has agreed to work with the buyer's agent with who, like the buyer's agent, acts solely on behalf of the buyer. Buyer's agents and their subagents will disclose to the buyer known information about the seller which may be used to benefit the buyer.
Why would you want to do all that extra work? A great Agent will call set up the appointments for you.Get information for properties that meet your criteria. Schedule multiple homes at once. Assist you in making your home buying experience a better one.You can do all that yourself if you like.. this is what we do. We provide a service that deals with SERVICE!
Anyone of us would be happy to provide you with that!
Let me ask you a question. Why wouldn't you use a buyers agent when they have all the experience & you do not have to pay them? A buyers agent represent the buyer & not the seller but the sellers pay the commission.
Why would you want someone to sell you a particular house instead of someone who will direct you to the best house for you?
I send emails to my clients from my website that has direct access to 2 multi lists. This information on my website is immediate. The web sites like trulia & realtor.com get their information from the multi list but there is a delay. In today's market the early bird catches the worm. There might be a home listed & by the time it gets to trulia, it could be gone.
If you are still interested in using the sellers agent ask them this question; "What is your fiduciary duty and how can you serve us both?" If they can not answer that, then move on to someone who can and will represent you and only you.