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12 Questions to ask your potential buyers agent?
Many buyers today are missing the benefits of working with a professional real estate agent, preferring to search the internet and visit Open Houses to see homes on their own. Possibly there is a mis-conception that using the listing agent will save them money because of reduced commissions when they find the home of their dreams and make an offer. However, the listing contract signed by the seller long before these buyers appeared specifies what commissions will be paid even when the listing agent is used in a dual agency situation and it generally saves the buyer nothing.
Before buyer agency, some brokerages would give larger commission splits to their own agents if the home was sold "In-House". The introduction of buyer agency created a situation where it does not matter what broker or agent sells a listing there is no difference to the seller or the agents involved, and if there is this must be revealed to all parties, agents and buyer and seller so the playing field is even for all parties.
Attorneys shake their heads in confusion when real estate agents practice dual agency on a personal level because of the implied conflict of interest and lack of fiduciary responsibility.
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