Who represents you in the purchase of real estate is critical. Take a few minutes to read about the role of the listing agent verse the buyer agent.
Who should you call when it is time to buy?
The Listing Agent
When the agent represents the seller of real estate, they are known as the listing agent (seller agency) of the property.
This agent represents the best interests of the seller and has a goal to help the homeowner get the highest and best price for their property.
The Buyer’s Agent Job
When an agent represents YOU and did not list the property, they are a buyer’s agent with the goal of helping you get the lowest and best price.
As your buyer agent, we are looking at for your best interests.
Your buyer agent will share with you everything that they find out from the listing agent so you have someone on your side when purchasing real estate. Call Jay Valento (562-413-7655) to arrange a free 30-minute buyer consultation to learn the benefits of having your own agent to represent you.
Buyer Agents and Agency happens in one of two ways:
- First, the buyer agent can have a written agreement with the buyer to represent their best interest. That agreement is known as a buyer broker agreement. It dictates what the agent is to do for the buyer to acquire real property.
* The buyer agent represents the best interests of the buyer (who of course, wants the best value for their money).
- A buyer can work with an agent without a buyer broker agreement but there are limitations on the relationship. If there is no agreement in place, then the buyer agent is really a sub-agent of the seller’s agent.
And the seller’s agent’s job is to get the seller the highest price. That’s why a buyer broker agreement is so important.
Here is what Money Magazine says about Buyer Agents:
U.S. News & World Report says:
“If you agent isn’t a Buyer Broker, then he works for the seller.”
Transactional Agency or Dual Agent
But, you should watch out for agents who want to act as dual agents representing both parties, buyer and seller, in a real estate transaction. It is hard to do this and lookout for the best interests of both clients.
Who do you want to represent YOU?
If you were in a lawsuit, would you hire your opponent’s attorney? Of course not. You would want your own attorney to represent you.
The same is true in real estate. Hire your own buyer agent…and it’s free…imagine that.
Frequently Asked Questions
Real Estate Consultation to Talk about Your Plans
We can meet for coffee and talk about your real estate plans. I have a 52-page Jay Valento’s Home Buyer’s Guide that we put together over the last 29 years that will give you some insights into buying a home in Southern California.
I will give you a free copy when we meet for coffee, talk on the phone or do a Zoom meeting online. What time is good for you?