We can save money not using a buyer's agent, right?

By
Real Estate Agent with Atlanta Communities 303302

Over dinner this past weekend, I listened to the story of a buyer who was told that they could save 1/2 the commission fees by not using an agent in their transaction. Who told him this? The listing agent. When I asked if this was put into the contract, the answer was no. They just "Assumed" this would happen. I assume it won't.

There are unscrupulous people in the world that will tell you something and then not follow through with what they tell you. I know this is hard to believe, but it happens. Oh, and the listing agent was related to the sellers and would receive a cut of the profits from the sale of the home. Can anyone say conflict of interest?

The truth is, buyers are usually not charged for their agents time and efforts. The seller pays this. Yes, this is in the price of the home, but there is no separate charge for the buyer's agent. Unless something is put into the contract contradicting this, when a listing agent sells a home to an unrepresented buyer, they get to keep all the commissions. They are not generally given back to the buyer or seller.

The most important issue though is lack of representation of the buyer. Most buyers really need someone to represent them and be there to answer their questions. Don't just assume that by purchasing a home unrepresented that you will save some money. The odds are that you won't.

To learn more about how the real world of real estate works, give us a call at den Boer Homes.

Posted by

Peter den Boer, Associate Broker, Realtor

Atlanta Communities Real estate Brokerage

 

Ph. 770.713.1545

www.denboerhomes.com

 

I write about daily life as a Realtor in the Towne Lake Community in Woodstock Georgia.

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Rainmaker
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Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Peter den Boer - you are right.  If all of those were true they would be in the contact which they are not.

Aug 26, 2019 06:19 AM #1
Rainmaker
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Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good morning Peter. Some folks just believe everything they are told. Too bad.

Aug 26, 2019 07:04 AM #2
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Peter den Boer

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