Buyers Beware!

By
Real Estate Agent with Keller Williams Realty Greater Nassau

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)

Terri Poehler
Realtor - Coral Springs, FL
Coral Springs Real Estate Agent

Good post. I love it! Very true for thye buyers and I like the way to put it across to them.

Jul 07, 2015 09:31 AM
Michele Milic
Realty ONE Group ~ 702.419.5359 - Las Vegas, NV

Kimberly, congratulations on your first post and welcome to Active Rain.

 

Jul 07, 2015 10:03 AM
Mike Sasse
OfferPad Home Loans, LLC - Scottsdale, AZ
Sales Leader

You mean the selling agent isn't trying to get a "great deal" for the buyer??!

Jul 07, 2015 10:15 AM
TeamCHI - Complete Home Inspections, Inc.
Complete Home Inspections, Inc. - Brentwood, TN
Home Inspectons - Nashville, TN area - 615.661.029

Good Tuesday evening Kimberley. Congratulations on your first ActiveRain post. Keep up the good work! Welcome to ActiveRain.

Jul 07, 2015 10:20 AM
Brenda J. Andrew
ULTIMA REAL ESTATE - Willis, TX
Professional Realtor in Conroe/Willis, TX

This is the best wording on this subject I have heard in a while.  You did such a nice job!  Welcome to the Rain!

Jul 07, 2015 02:08 PM
Captain Wayne - Rowlett Real Estate School
Rowlett Real Estate School - Panama City, FL
Rowlett Real Estate School / Owner and Instructor

Hi Kim, Excellent advice!  Thanks for the post.  Keep up the good work.

Jul 07, 2015 10:42 PM
Captain Wayne - Rowlett Real Estate School
Rowlett Real Estate School - Panama City, FL
Rowlett Real Estate School / Owner and Instructor

Welcome to ActiveRain, it's great to have you aboard.  I hope to read more of your posts.

Jul 07, 2015 10:42 PM
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

Good morning, Kimberly Crail good post....every buyer needs representation and every buyer NEEDS a buyer's agent....how foolish to search for a home without representation....

Jul 07, 2015 10:47 PM
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

and welcome to ActiveRain.... hope you enjoy your time spent here....it's addictive!!!

Jul 07, 2015 10:48 PM
The Temple Team
THE TEMPLE TEAM - Mooresville, NC
Specializing in Lake Norman/Charlotte/Charleston

CONGRATULATIONS on your First Blog Post and WELCOME to Active Rain! You're going to love it here!

 

KT

Jul 08, 2015 05:52 AM
Marla Yost
Marla Yost Team- Keller Williams Realty - Arlington, TX
The Marla Yost Team

Well put...Congrats on your first blog .

Welcome to Activerain 

Jul 08, 2015 06:08 AM
Les & Sarah Oswald
Realty One Group - Eastvale, CA
Broker, Realtor and Investor

Firstly, I want to welcome you to ActiveRain.

Many buyers out of desperation are turning to listing agent in hopes of getting their offer accepted. But we all know that it is not the case...

Buyers...beware, you must be represented, so use a buyer's agent.

 

Jul 08, 2015 06:12 AM
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Buyer agent is where most newer agents start...Get a import car, wear suit to show homes.  The problem after failing to get into a contract buyers realize to go direct. These days getting them to sign a broker agency agreement is important.....

Jul 08, 2015 12:59 PM
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Welcome to the Rain, Kimberly. I hope to see a lot of you and look forward to reading many more posts.

Jul 09, 2015 06:15 AM
Christine Donovan
Donovan Blatt Realty - Costa Mesa, CA
Broker/Attorney 714-319-9751 DRE01267479 - Costa M

Kimberly - It can be difficult for a buyer in a strong seller's market, and it's even more important then to have a great representative.

Jul 10, 2015 04:47 PM
Christine Donovan
Donovan Blatt Realty - Costa Mesa, CA
Broker/Attorney 714-319-9751 DRE01267479 - Costa M

Kimberly - Congratulations on your first post here in the Rain, and welcome to the community.

Jul 10, 2015 04:47 PM
Christine Donovan
Donovan Blatt Realty - Costa Mesa, CA
Broker/Attorney 714-319-9751 DRE01267479 - Costa M

Please know that the ambassadors, those with the orange badges, are here to help if you have questions.

Jul 10, 2015 04:48 PM