Can't I Just Call The Listing Agent?

By
Real Estate Agent with Infinity Realty

So you're driving down the street, and you see a beautiful home for sale.  You pull a flyer out of the box in front, and it looks like THE perfect home for you. The next thing you do is call the number for the listing agent and set up a showing - right?  WRONG!  At least not if you want an agent that's working for YOU.

When you're ready to buy a home - one important thing you need to understand is "Agency".  There are many ways a consumer can work with an agent in the KC Metro, and it's important to know who is working for whom.

In most cases, the agent who lists a home for sale is representing the seller - and the seller only.  So if you call the listing agent to view & write an offer on a home, you're on your own.  What's worse is not only will they not be able to provide you advice on purchase price and terms, but any personal information you tell them about yourself WILL be passed on to the seller.  (Why you're moving, what you can spend, how interested you are in the home, etc..)  This can definitely jeopardize your position at the "negotiating table."

What you need is an Exclusive Buyer Agency Agreement with a qualified Realtor, so that your interests are represented.  A Buyer's Agent will be working for you to get you the best price and terms possible, and all of your information and motivations will be kept confidential.  Best of all, buyer representation is at no cost to you in Kansas and Missouri.

So, rather than driving around looking for homes, and calling several separate Realtors to view the ones you like - get your own Realtor first.  Having a qualified professional on your side will save you time and money.  Although buyer representation is "free", having someone to guide you through the process from start to finish is "priceless."

For more information about buying a home in the Kansas City Metro Area, call or email me any time.  I stand ready to answer your questions and help to guide you through the process.

Posted by

Lori Day

Infinity Realty

(816) 200-4372 Cellular 

(816) 554-6351 Fax

(816) 554-6368 Office

mail to: Lori@LoriDaySells.com

 

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At Infinity Realty, we make a difference in real estate by saving our clients thousands! Whether you're buying or selling, I WILL save you money; with expert negotiation skills and lowered commission rates. When you hire me, you won't sacrifice service! I promise I'll provide you with a full-service customized client experience, at the highest level of integrity. I do the little things that make a difference - from start to finish, and beyond. Your satisfaction is my mission, because I want to be your Realtor for life!

Comments (8)

Richard Strahm
American Foursquare Realty - Lansdale, PA
Lansdale and North Penn Real Estate

The different types of agency representation are, I think, one of the least understood items by consumers.  Although we have a mandatory Consumer Notice here in Pennsylvania regarding agency representation, I still think many people just don't get it!

Mar 13, 2010 11:56 PM
Jane Heiss-Armitage
Ayre/Rhinehart Realtors (Midland County, Bay County,Saginaw County, Mi.) - Midland, MI
Selling Homes in the Great Lakes Bay Region

Lori,  this is so true,  in Michigan we have Duel agency and it is very difficult to have to hats on at once.  It isn't really fair to either client.  

Mar 13, 2010 11:57 PM
Lori Day
Infinity Realty - Lee's Summit, MO

Agreed.  We also have to disclose Agency at the "first reasonable opportunity".  However - this is one thing that many consumers "glaze over".  In Missouri Dual Agency is still allowed *for now*, but I personally do not practice it.  When the problem arises, I roll it back to Transaction Broker for the best interest of all parties involved.

Mar 14, 2010 12:02 AM
Dr. Paula McDonald
Beam & Branch Realty - Granbury, TX
Granbury, TX 936-203-0279

I agree with Richard.  I think that most people really don't get the idea of a listing agent and a buyers agent.  I think as an industry we need to do a better job of educating the masses on this.

Mar 14, 2010 12:03 AM
Larry Estabrooks
Independent Real Estate Agent - Moncton, NB
100% representation means NEVER DUAL AGENCY !

A "transaction broker" is no representation at all for either side.

I would never say that limited or even no representation is in the best interest of any party to a real estate transaction.

Mar 14, 2010 12:34 AM
Lori Day
Infinity Realty - Lee's Summit, MO

Larry - 

 

Transaction Brokerage is not ideal - I agree.  And it is extremely rare that I enter into that situation.  I will only consider it when all parties have purchased/sold in the past - and are competent in the process without the guidance they'd receive being exclusively represented.  

However, representation of neither party, in my opinion, is preferable to attempting to represent both parties simultaneously.

Mar 14, 2010 12:44 AM
Mark Brian
Silver Star Real Estate LLC - Anderson, SC
Anderson SC Realtor

Although buyer representation is "free", having someone to guide you through the process from start to finish is "priceless."

Some of the best advice I have read lately for buyers. Without a doubt an excellent article.

Mar 14, 2010 01:45 AM
Anonymous
Tammy Nguyen

Great article!  Agency is surely one of the least known facts that clients are aware of.  I personally also stay away from dual agency.  My personal ethics won't allow me to practice this, and for my own protection, I will not.  I'll let my broker find another agent to handle the transaction.

Mar 14, 2010 03:56 AM
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