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.
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.
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.”
“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.
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.
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.
The same is true in real estate. Hire your own buyer agent…and it’s free…imagine that.
Frequently Asked Questions
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Won’t I get a better deal if I go with the Listing Agent?
No. The listing agent does not control the price the property. The seller does. It is the listing agent’s job to get the seller the HIGHEST Price and terms. The selling price is determined by what a buyer is willing to pay and a seller is willing to accept. As your buyer’s agent, my goal is to help you get the lowest and best price.
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I want to go with the listing agent because they know more about the property.
Maybe. I have talked to many of them that do and some that have no clue about certain aspects of the property. Plus, they usually tell your buyer’s agent additional information about how flexible their seller is. And we will share that information with you…
For example, I showed homes in Yorba Linda in Orange County on February 8th, 2014. One of the homes was listed for $799,000 and the seller’s agent told me that they would take $750,000 to $760,000. I told my client, the buyer. I want the best for my clients. I’m considering an investment property in Arizona to close to family. I have an agent in that area that is working as my buyer’s agent. I want someone who is working for me and not bias toward the seller
Real Estate Agents: Listing Agent vs Buyer Agent
Listing Agent Benefits:
They focus on getting the seller the highest price and terms.
Pricing Expertise: Listing agents are knowledgeable about the current market conditions and can help you set an appropriate price for your property based on its location, condition, and other factors.
Marketing: Listing agents can create a marketing plan that will help you get your property in front of the right buyers. They may use a variety of strategies, including online listings, open houses, and print advertising, to attract potential buyers.
Negotiating Skills: A listing agent will help you negotiate with potential buyers, ensuring that you receive the best possible price for your property. They can also help you navigate any counteroffers or requests for repairs that may arise during the process.
Expertise: Listing agents can guide you through the legal aspects of selling a property, including the preparation of contracts and other necessary paperwork.
Buyer’s Agent Benefits:
They focus on getting the buyer the lowest price and terms.
Access to Listings: A buyer’s agent can help you find properties that meet your specific needs and preferences. They have access to a range of listings, including those that may not be publicly available.
Local Knowledge: A buyer’s agent is knowledgeable about the local real estate market and can provide valuable insights into the neighborhoods, schools, and amenities in the area.
Negotiating Skills: A buyer’s agent can help you negotiate with sellers to ensure that you get the best possible price for the property. They can also assist with counteroffers and requests for repairs.
Coordination: A buyer’s agent can coordinate the various aspects of the home buying process, including scheduling inspections and appraisals, and working with lenders to ensure a smooth closing
Buyer’s agents explain offers and disclosures from the seller so you can make good decisions.
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 31 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?
