Every Buyer Needs His/Her Own Representation To Be Treated Fairly!!!

Reblogger Roger Stensland
Real Estate Agent with Keller Williams Realty Puget Sound 91333

Great post Barbara.  My only disagreement with you is that if a buyer insists on using the builder's agent, there is still absolute fairness.  The buyer just needs to be aware that they have no representation and as you said the builder's agent's responsibility rests in being honest with the buyer and representing the builder 100%.  How long would you last as a builder's agent if you continually gave away the shop?  As long as you are honest, there is fairness.

Original content by Barbara Todaro 104763

This morning I read a post written by Mona Gersky titled “Buyer Agency Explained-Working with Real Estate Agents in NC” and I thought I’d share my thoughts on this topic.  Mona mentioned and I quote All agents (Seller's Agents & Subagents included) owe Buyers honesty, fairness and material facts about properties.”

We are listing agents, and much of our focus is on new construction.  We often have visitors to our open house events who do not have and do not want to use a buyers’ agent.  Those are the buyers who will be paying full list price and top dollar for all extras and upgrades. 

It’s the listing agent’s job to “sell extras.”  It’s the listing agent’s responsibility to make as much money for the builder as possible.  It’s the listing agent’s duty to make sure that builder has received top dollar for each and every extra. 

There is “NO FAIRNESS” to the buyer if the buyer is working without proper representation.  There is “NO FAIRNESS” if the buyer does not want to include a buyers’ agent in the equation.  There is “NO FAIRNESS” to the buyer by a listing agent.  The listing agent’s loyalty is to the seller and only the seller. 

Any buyer who thinks the listing agent will be fair is mistaken, if the listing agent is doing his/her job properly.  The listing agent’s job is to make sure the seller/builder has received the most money in the shortest period of time.  Period!!  This is not a gray area.  All buyers need their own representation. 

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New Homes in Franklin Massachusetts
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

Hi Roger....thanks for the reblog.... I have to challenge you on fairness.... is it fair that the buyer pay for extras that will not give them a return??  a buyers' agent would direct the buyer to purchase the items that make sense and will bring a return on selling in the future.... is it fair that the buyer pay for every extra and not attempt to include anything in the agreement or increase the allowances to buy more??  the listing agent won't suggest that.... it's the listing agent's job to get as much money for the builder as possible....there is no fairness from that listing agent if he/she is doing the job properly.

Jul 24, 2013 12:34 AM
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

She makes some very good points. When I see situations that someone is not properly represented, it often creates problems that I end up having to deal with.

Jul 24, 2013 08:42 PM
Roger Stensland
Keller Williams Realty Puget Sound - Maple Valley, WA
Let's Move!

I don't think that it is either fair or unfair it just is.  That is why it is so important that buyers are properly educated as to the choices they have.  My choice as a Realtor® is to never do both ends of the deal, even though it is legal.  If I get a sign-call that ends up wanting to purchase one of my listings instead of another listing, I will refer the buyer to another good agent.  I love the negotiating part of the process and do think that each party should be fully represented during the transaction.  This is something that I do not believe is possible if you work both ends of the deal.  The pay is great, but just is not right, in my opinion.

Jul 26, 2013 05:53 AM