I Only Want to Deal with the Listing Agent
Apologies in advance.....I do hear this statement from buyers - not often - but enough so that I feel compelled to help to dispel this misconception. First of all, whether you deal with an agent or a Realtor(R), the initial response is the same. The basis for understanding is in AGENCY.
Every state is different but here in South Carolina - because this issue is STATE oriented - it's about the definition of a 'customer' and a 'client.' I hate to be long-winded but really think it's important. A 'customer' is due very clear behavior from an agent; "(1) present all offers in a timely manner, (2) account for money or other property received, (3) explain scope of services to be performed, (4) be fair and honest and provide accurate information, and (4) disclose "adverse material facts" about the property within the licensee's knowledge."
HERE'S THE DIFFERENCE BETWEEN CUSTOMER AND CLIENT IN SOUTH CAROILNA: A CLIENT is owed (1) Obedience, (2) Loyalty, (3) Disclosure, (4) Confidentiality, (5) Accounting, and (6) Reasonable care and skill. (add to that that we can and will negotiate on your behalf to the best of our ability - if you are a CLIENT and sign a Buyer's Agency Agreement, we are not just a scribe.)
Now back to the question at hand, you, potential buyer, have seen several properties online and you begin to call the listing agent. At the moment of your call, you are a customer; meanwhile, the listing agent has a listing agreement with the seller - who is owed all the strong words above. The misconception is that the listing agent will give you a better deal and will negotiate their commission. WHY? Not to be ugly but we don't know you, you don't want to have a professional relationship with us, you've already said that you want to represent yourself. Our DUTY under the listing agreement is to GET THE HIGHEST PRICE for our seller - WHY would we give you a better deal? I'm sorry to be so strident but, please understand we work for the seller.
Now in fairness, are there agents who will consider this - yes - there are. The circumstances under which this happens might be helpful to explain. When we take a listing, often we already have in our databases people with whom we've been working - with whom we already have a relationship - people who have said yep I want to work with you and many, if not all, who have signed a Buyer's Agency Agreement with us. These are usually the people that for which we are willing to take a lower commission. They are not usually folks who just call; no offense but we are obligated to also qualify buyers for our sellers.
So, moral of the story, we want to help you; we inherently like you; we want you to ask us for counsel; we will totally abide by agency laws in our state, but please understand who we work for.
P.S. As a side note, this same response true when you walk into those large communities and deal only with the developer. You are unrepresented - you will not get a better price if you don't have an agent or Realtor(R). They pay us out of marketing dollars, they budget for this; and in fact, since we sell in there all the time, we probably can get you a better deal if you use us!
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