Should A Home Buyer Use the Seller's Agent?
Have you ever been the third wheel joining a couple on a date? I know it's really stretching the analogy to compare a real estate transaction to a social function. But there are similarities.
In a social situation, the couple are getting to know each other, and the usual objective is to have fun with each other. If you are the third person in this arrangement, you add a differenct dynamic and things are likely to feel a bit out of balance. Somebody is going to feel a bit uncomfortable.
When a seller engages the services of a real estate agent to list and sell their property, they establish a bond and working relationship. They share confidential information that will not usually be divulged to outsiders. They have a relationship, a strategy for getting the house sold, and financial objectives.
If you, as a Buyer, are interested in the property, should you find an agent to represent your interests in obtaining information and possibly negotiating for the sale of the property, or should you work through the agent already hired by the Seller? The Seller's agent does know a great deal about the property. However, they also have a longer term working relationship to the Seller. Does that help your position as the Buyer?
Some Buyers have the opinion that if they do not have an agent, they will be able to buy the property for a lesser amount because there will not be a commission for a Buyer's Agent. In Texas, the absence of a Buyer's Agent usually has no affect on the sales priceor commission paid by the Seller.
There are issues regarding agency, and intermediaries in this sort of arrangement under Texas Real Estate Rules that should be discussed and understood by the Buyer and Seller. I will not be describing the issues or such variables in this blog post. But if you are inclined to take this approach, ask the real estate professional to explain agency and intermediary arrangements.
As with any business arrangement, having qualified representation, for all parties, is the best approach to take. If you don't mind being the third wheel, use the Seller's Agent. However, I think it best to have separate representation for each party.
Looking for a good Realtor® in San Antonio? Let me Google that for you.
Wayne Johnson
18756 Stone Oak Parkway
Suite 101
San Antonio, Texas 78258
e-mail: wjohnson@cbharper.com
Tel: 210.483.6329
Website:www.Wayne-Johnson.com
Texas Real Estate License #0566780
Texas Law requires all real estate licensees to provide the following information about brokerage services:
http://www.trec.state.ts.us/pdf/contracts/OP-K.pdf
The information, opinions, suggestions, and ideas contained in this blog are mine, and are not necessarily those of Coldwell Banker, Coldwell Banker D'Ann Harper Realtors. Information contained herein is deemed reliable but should be verified before acting upon. Suggestions and ideas expressed herein are appropriate under the real estate laws and regulations of the State of Texas.
©December 2010 By Wayne Johnson All Rights Reserved *Should A Home Buyer Use the Seller's Agent?*
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