Paying through the nose . . .
This is going to be a "Chicken or the Egg" argument, I will be interested in your opinions.
I recently wrote a post Are Sellers better Consumers than Buyers? In that post I ask the question of why do sellers seem to do more homework and research when selecting an agent as opposed to the buyer's process of agent selection.
The consensus from most of you was that the seller pays the commission and wants to protect their equity. The buyer does not pay commission to the agent so maybe the choice is not as important? Okay, that sort of makes sense to me, well sort of?
I have a big but with that argument - yes, I have a big butt elsewhere, but that is another post entirely.
My argument is the SELLER would not have the MONEY to pay both of the agents if the BUYER didn't come up with the money to buy the home. The seller doesn't pre pay us, at least not in my market?
So, yes, as a ledger sheet goes, the money does come from the seller's side of the sheet, but the buyer has to come up with the lump sum in order for this to occur.
For me, the argument that the buyer doesn't pay the agents doesn't hold water. I believe that the buyer should be very selective in the choice of real estate agent when they are making their selection for the best representation in a transacction.
This doesn't mean I think the seller's side of the transaction is less important. Not for one minute. My opinion is that the buyer should stop and give more thought to the fact that they are "paying" too.
In the end, not having an agent with experience and know how could end up costing the buyer MORE money.