Apparently, I'm not the only agent who gets their panties in a twist with buyers who are unrepresented and don't know THEY OUGHT TO BE!!

Having a licensed professional assist in the home buying process does not cost the buyer anything.  So why wouldn't a buyer WANT to have their own agent??

The listing agent works for the Sellers.  They like it when an unrepresented buyer comes a'calling, or a'looking . . .

And Diana Philips is an agent working on the other side of the nation (from me).  So it's NOT just something I'm dreaming up . . . agents across the country should ADVOCATE for their CLIENT.  A listing agent is the seller's agent . . . and they can't advocate for both teams, now can they?!?

Via Diane M. Phillips, MD & PA Realtor® Real Estate, Homes For Sale, Homes (Frankly Real Estate Inc.):

Who does the real estate agent represent?

Who does the real estate agent represent?In some industries it’s often made clear by the hat a person is wearing what job they hold. In real estate it’s much less  obvious. We don’t wear a hard hat, police hat or jesters hat. The agreements we make in writing with our clients define the job we hold.

As a buyer or seller of real estate you have the responsibility to protect your own interests. It is important to understand your relationship with real estate agents and what their obligations are to you and other people.

In some situations, for example an open house, the real estate agent has a written agreement with the seller. In a nut shell that means to represent the sellers best interest while actively marketing the property for sale. As a potential buyer it is not in your best interest to visit the open house and share information with the agent holding the open house regarding the details of your ability to purchase, such as, you are qualified for $325,000 but only plan to offer $300,000, and that your significant other said get us that house at any cost. The sellers agent is under no obligation to keep that information to his/herself.

The State of Maryland requires, “at the time of the first scheduled face to face contact with you (the potential buyer/tenant/seller/landlord), the real estate licensee (agent or REALTOR®) who is assisting you is required by law to provide you this notice.” The notice is called “Understanding Whom Real Estate Agents Represent.”  “This notice is NOT a contract or agreement and creates NO obligation on your part.” It explains what agents can and can not do and is a good first step in understanding business relationships in a real estate transaction.

Who does the real estate agent represent?


Buyers, protect your best interest, hire a buyers agent.


Make sure know who the real estate agent represents.

 

___________________________________________________________________________________________

Diane M. Phillips, REALTOR®
Cell/Text: 443-286-4365
Office: 703-827-4066
DianeJustSold@gmail.com
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search Portland PropertiesEBA Portland ~~ 100% BUYER REPRESENTATION ~~ 100% of the Time

EBA Portland, LLC is an Exclusive Buyer Agency serving the Metro Portland real estate market since 1999. If you’re a Buyer in the Metro Portland area (including: Beaverton, Tigard, Hillsboro, Lake Oswego, Downtown Portland,) and contemplating a purchase, talk with a Buyer’s Agent . . . better yet, talk to an ExclusiveBuyers Agent. Exclusive Buyers Agents do not work for listing brokerages or Sellers. An EBA’s fiduciary dutyis: 100% BUYER REPRESENTATION . . . 100% of the Time.

 Carla Muss-Jacobs
503-810-7192
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BuyersAgentPortland.com

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8 Comments on Who does the real estate agent represent?

MAR
03
2012
111,905 Points

I've run into a lot of dual agency transactions lately. They seem to have one thing in common, it's always a short sale. I hear from the buyer, they believe they'll get a better price and be more successful in getting an accepted offer and completed escrow if they use the listing agent.

As we go through the inspection process the buyers start to notice the agent isn't on their side at all. The buyer ends up being alone with no advocate during one of the most expensive purchases in their life time. 
9:24pm • #1
239,069 Points 9 Featured Posts Outside Blog Called Shot Master

I do think a lot of times it is purely misunderating or not knowing what they don't know.  Because seriously, why wouldn't you want to be represented?  A lot of dual agency situations end badly where the buyers say the agent wasn't on their side.  Yep.  They just didn't know it to begin with.  Maybe that's the agent's fault, but I also think sometimes buyers don't listen or think they know better, or only are looking for a possible commission break, thinking they will get the home for less (which as we know can shoot them in the foot). Nice reblog.  -Kasey
10:24pm • #2
585,313 Points 1 Featured Post Outside Blog Attended Rain Camp Called Shot Master

Personally, I have a lot of hats.  But I'd like to have one marked appropriately on front and back - so that when I trade sides I can most eaily change my hat as well.
11:51pm • #3
MAR
04
2012
276,190 Points 17 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Agency is not understood at all.  And I have never seen anything from NAR to try to educated the public.  Thanks for your post!
4:47am • #4
282,019 Points 1 Featured Post
Great choice for a reblog. Have a great day!
11:10am • #5
951,821 Points 95 Featured Posts Outside Blog Attended Rain Camp

It get so tricky in states that permit dual agency. In California, it's allowed, but we do our best to avoid it.
5:58pm • #6
MAR
06
2012
340,045 Points 13 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Carla ~ Thanks for the re-blog I really appreciate it. Love the buyer awareness ribbon!
10:16am • #7
1,003,356 Points 117 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

@ Diane -- that is courtesy of Debe Maxwell ;-)
1:53pm • #8


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Carla Muss-Jacobs - Principal Broker/ Owner | Buyers Broker | Buyers Agent EBA (503-810-7192 | BuyersAgentPortland.com) Rainmaker_large

Carla Muss-Jacobs - Principal Broker/ Owner | Buyers Broker | Buyers Agent EBA

Portland, OR

More about me…

503-810-7192 | BuyersAgentPortland.com

Address: Beaverton OR, Portland OR, Forest Heights, Lake Oswego, Hillsboro, SW Portland, SE Portland, NW Portland, N Portland, Downtown, The Pearl, NE Portland, Milwaukie, West Linn, Aloha, Cedar Hills, Portland, OR

Office Phone: (503) 810-7192

Cell Phone: (503) 810-7192

Email Me

Author Bio: Carla Muss-Jacobs is the Principal Broker/Owner of EBA Portland, LLC an Exclusive Buyer Agency representing Buyers in the Portland Metro real estate market since 1999.

The Sellers have their own agent ~~ Why don't you have yours?  

Carla Muss-Jacobs practices the TRUE FORM of Buyer Agency ~~ Exclusive Buyer Agent.  Her office/brokerage never takes listings and never respresents the Seller.  Exclusive Buyer Agency is the BEST form of legal real estate representation a Buyer can have.  There is 100% Buyer Representation - !00% of the Time.  There are NO CONFLICTS OF INTEREST and there is no possibility of ever having YOUR Buyer Agency comprised.  When buying a house -- it's important to know who is working for you!!  



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