Buyer’s Use Caution when Calling the Name on the Yard Sign

Reblogger Toula Rosebrock
Real Estate Agent with Diane Turton, Realtors, Forked River, NJ

Ed Silva of Waterbury, CT posted this wonderful post regarding Buyers using listing agents...

Original content by Ed Silva REB.0759001

It's inherent in human nature to try and get a deal on a purchase.

This will always be the case in real estate as buyers will call the name on the yard sign believing they can get a better deal than if they use a buyer's agent to assist them.

The belief is that if there is only one agent in the transaction then the seller will lower the price, as there is only one commission to pay. Although this does happen if the seller and agent have agreed to a lesser commission if the property gets sold by the listing agent, more often than not if it can cost the buyer much more.

 

 

The primary loyalty of the listing agent is to the seller. Even though we know what their bottom line might be, we still need to get as much for the listing as we possibly can. When a prospective buyer asks ‘What is their bottom line?' we cannot spout the number.

Our job as a Dual Agent in this case, would be to give the buyer pertinent comparables and let their conscience be their guide.

 

 

When a buyer calls in their own agent on the transaction, they get an individual whose primary duty is to help them get the best deal they possibly can. The Buyer's agent will get far more aggressive with the homework. Property records will be scrutinized to see if the home has had a sale in recent years. Sometimes a trip to town hall is in order to see what the town records show for liens and encumbrances. If that shows little, then it allows us to discuss a lower offering price with the buyer, especially if the home has been on the market for a while and they can work with the sellers' anxiety to get the home sold.

 

A buyer's agent can often times get a client a far better deal than the small percentage of savings that the seller might be willing to give up with only one agent involved.

Homebuyers need to exercise sound judgment when making a purchase this large that if done wrong can have financial repercussions long after the closing.

When in doubt, get a qualified agent that will work to your best interests, it could be the best investment you will ever make.

 

 

 

Want to get more information on available homes or condos in the Greater Waterbury area? Click HERE to sign up for ALL Connecticut property listings!

Do you know somebody who is behind on their mortgage and doesn't know what to do? I may be able to help them, especially if they are facing foreclosure!

Visit my Short Sale Help site;  www.ctshortsalessite.com 

Whether looking to buy or sell, we service the Greater Waterbury towns of Beacon Falls, Bethany, Cheshire, Naugatuck, Middlebury, Thomaston, Waterbury, Watertown and Wolcott 

Ed Silva  RE/MAX PARTNERS,  www.edwardsilva.com  203-206-0754

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Rainmaker
747,025
Robert Rauf
HomeBridge Financial Services (NJ) - Toms River, NJ

These are great points, people forget that the listing agent is working for the seller!

May 20, 2010 04:17 AM #1
Rainmaker
3,797,878
Dorie Dillard CRS GRI ABR
Coldwell Banker United Realtors® ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Good morning Toula,

Great re-blogg..good points. Thanks for sharing..I missed this one.

May 20, 2010 04:51 AM #2
Rainmaker
411,937
Catherine Chaudemanche - Edison & Central NJ
Metuchen Keller Williams Elite Realty / Middlesex County, NJ - Edison, NJ
Full Time, Informed and Involved- Results Driven

Hi Toula, call me the next time you go to Edison...

May 20, 2010 10:57 AM #3
Ambassador
2,204,754
Wanda Kubat-Nerdin - Wanda Can!
Prado Real Estate South - St. George, UT
So Utah Residential, Referral & Relocation REALTOR

Ed really nailed this one Toula and I can definitely see why you passed this one along - great buyer information!

May 20, 2010 12:27 PM #4
Rainmaker
597,934
Valerie Osterhoudt
Johnson Real Estate, Inc. - Cromwell, CT
ABR, Cromwell, CT Real Estate ~ 860.883.8889

Toula.. Once again you have re-blogged a post that needs to be read by as many as possible.  Thank you.

May 20, 2010 03:30 PM #5
Rainmaker
492,227
Richard T. Dolbeare
Keller Williams Realty Maui - Kahului, HI
R(B), ABR, CRS...Hawaii Multi-Island Specialist

Hi Toula.  It's a good post for home buyers to read, it's good that you reposted.

May 20, 2010 04:32 PM #6
Rainmaker
4,797,120
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

While I love getting sign calls and having my buyers agent make a sale, this is an excellent post and it's worth a re-blog.  Thanks.

May 21, 2010 12:41 AM #7
Rainmaker
3,108,568
Kristin Johnston - REALTOR®
RE/MAX Realty Center - Waukesha, WI
Giving Back With Each Home Sold!

Toula, I just commented on Vals reblog of this too....great minds think alike!

May 21, 2010 02:31 AM #8
Rainmaker
428,973
Betina Foreman
WJK Realty - Austin, TX
Realtor, C.N.E., with WJK REALTY

Dear Toula,

You made a great point that many home buyers are unaware of. Its kind of like going to court and asking opposing counsel to 'help you' make your case. Keep up the great job informing the public!

May 21, 2010 03:37 AM #9
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Ann Allen Hoover
RE/MAX Advantage South - Hoover, AL
CDPE SRES ASP e-PRO Realtor - Homes for Sale - AL

It seems common sense, but many buyers don't realize this.  I love the looks on their faces when they realize what a benefit it is to have a buyer's agent working for them......and it doesn't cost them a thing!

May 21, 2010 04:15 AM #10
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Charlie Ragonesi
AllMountainRealty.com - Big Canoe, GA
Homes - Big Canoe, Jasper, North Georgia Pros

Toula I do not know how many times I have run into buyers who have dealt with the listing agent and did not get a great deal. I am with you 100 percent on this blog and it is one of our mantras

May 21, 2010 08:11 AM #11
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Toula Rosebrock

Broker/Sales Associate, Realtor, Lacey Township,
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