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Why you should always have an agent representing you in a real estate transaction - 1 example

Suppose you find a home of interest and the Listing Agent tells you they will reduce the price of the home by 3% if you choose not to use the Buyer's Agent you have spoken to, but have not yet signed a written agreement with.

What have you benefitted if you "save" 3%, but still end up over-paying for the home by 5%? Absolutely nothing. You have, in reality, lost.

Listing Agents Represent the Seller. When you need to sell your home, hire one. When you need to Buy a home, hire a Buyer's Agent who will work solely on YOUR behalf.

There are many Buyers who may not even know they overpaid for their home because the comparables they were shown by a Seller or a Listing Agent justified the higher price.

Remember who the Listing Agent represents. Comparable sales provided by a Listing Agent should always be verified by an independent agent, preferrably your Exclusive Buyer's Agent.

I have seen comparables used for non-similar properties, sometimes miles away, when there are 2 or 3 of the same floor plan, in the same neighborhood that have sold within the past 30-60 days.

Make sure you hire an agent who is legally obligated to protect your rights as a Buyer. To get you the best price and terms, not the Seller.

Homebuyer Representation, Inc. is an Exclusive Buyer Brokerage serving Salt Lake and surrounding areas. We do not list homes and we don't represent Sellers. We work for you on the Buying side of the transaction at all times.

For more information, just call us at (801) 969-8989 or contact us via the link on this page.

Posted by Benjamin Clark - Exclusive BUYER'S AGENT - Salt Lake City, Utah on 12/20/2007 01:05 AM

Comments (6)

buyer protection, representation, comparable sales, buyers agents, exclusive buyer agent, salt lake city, utah

This post has been included in Utah Information Salt Lake County, UT Information

6 Comments on Why you should always have an agent representing you in a real estate transaction - 1 example

Benjamin,

I really enjoy your attitude; you put it out on the table. Salt Lake City is lucky to have you!

Sincerely

Tom Braatz

12/20/2007 09:25 AM

by Tom Braatz, South Eastern Wisconsin (Tom Braatz)

It is impossible to make an informed decision when you haven't been informed.

12/20/2007 11:12 AM

by Benjamin Clark - Exclusive BUYER'S AGENT - Salt Lake City, Utah (Homebuyer Representation, Inc.)

"Do not assume that you are working with a buyer's agent whose sole loyalty is to you.
"If it's not in writing, it doesn't exist. In the absence of a signed buyer-agent agreement or other disclosure to the contrary, your agent is almost certainly working for the seller and will squeeze the highest price possible out of you on the seller's behalf."
Washington Post - Agents Falling Short On Disclosure, Kenneth R. Harney, Saturday, March 18, 2006; Page F01

12/20/2007 11:24 AM

by Benjamin Clark - Exclusive BUYER'S AGENT - Salt Lake City, Utah (Homebuyer Representation, Inc.)

I also want to add that there is nothing nefarious about the Seller's agent squeezing the highest possible price out of the buyers... that is what they were hired to do! That is their legal obligation!

If Buyer's want to level the playing field, they need an agent whose job is to protect the Buyer's interest. This is exactly what Exclusive Buyers Agents offer to Buyers. 100% Buyer Representation.

12/20/2007 11:30 AM

by Benjamin Clark - Exclusive BUYER'S AGENT - Salt Lake City, Utah (Homebuyer Representation, Inc.)

Benjamin,

I was looking through the "exclusive buyer agent" posts and ran across a few of yours, all of them good. I'm impressed with your ability to get ideas across in a concise and informative manner. Keep up the good work.

12/29/2007 01:16 PM

by Rich Quigley CRS, GRI, ABR, SRES (Baird & Warner)

Benjamin, excellent post in regards to buyers agents. Buyers need to understand that a seller agent represents the seller. When I work as a buyers agent in a transaction. I represent them 100% and intend to save them the most $$$ money $$$. You couldn't have said it better.

01/25/2008 02:20 AM

by Steve Ramirez (Legacy Homes Realty)

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