I've been working with buyers for a few years now. Buying a home is such an emotional decision as well as a big financial investment. Moving is near the top of the list of stressful life events.
Today's competitive market is making buyers a little crazy right now. One of my buyers has an idea that they should deal directly with the listing agent, because, gee, who wouldn't prefer both sides of a deal?
So desperate to buy a home they give up their rights to be represented and begin listening to all the family and friend "experts" instead of their own real estate professional.
In New York, every agent is working for the Seller, by default. The agents owe every seller a fiduciary duty, even if that agent is showing you a home as a buyer. Bouncing around to different agents may give the appearance of moving the process forwards, but in fact, does the opposite. It does wear you out, though!
Retain your own buyers agent who can do the legwork for you and listen to their advice when it comes time to enter that bidding war!
And PLEASE use a real estate attorney, rather than a family member or friend. It really can make or break the deal.
Comments(17)