Buyer Agent Ethics

Commission Motivation:

In almost every transaction, the Realtors will earn a substaintial commission when you buy a home. Due to the large economic motivation, it is human nature that your buyer's agent will be very happy when you decide to write an offer on a home. CataList Homes hopes every buyer understands the underlying economic incentives and looks out for their own interests, not the agent's.

Many agents are trained how to get you to write an offer quickly. After all they make less money per hour with every home they show. You may have heard things such as "this home won't last another 12 hours on the market." Sometimes the buyer agent is correctly assessing the situation; some times they are simply using tactics to earn a quick commission. Some unscrupulous agents ask the seller behind your back for additional commission (usually resulting in a higher price paid by you).

Reliance on Agents:

In an active market, very few agents can possibly inform you in a timely fashion about every new listing that hits the market. This is especially true for part-time agents who make up a huge percentage of the industry. If you are a serious buyer, rely on several agents for information and do your own homework. Our site contains for sale data updated daily.

Buyer To Do's:

• Ask your agent if you will be shown ALL of the homes for sale that match your criteria.
• Ask your agent if you will be shown homes that are listed EVEN IF the commission on that home is less than 6%.
• Tell your agents that you will not agree to additional commission requests of the Seller.
• Discuss your needs with several reputable agents.
• Demand to be signed up on the MLS automatic notify system.
• Keep an eye out for all properties in which you may have an interest. Read the newspaper and ask your agent about signs you see in the neighborhood when you are driving around.
• Register with our Virtual Agent and receive email notice of ALL new listings within your criteria.
• Do not succumb to commission driven pressure to write an offer on a home that you are not satisfied with.

In conclusion, if you believe your agent is not looking out for your best interests find another one immediately. You may look in our buyer agent hall of fame for outstanding agents our company has worked with in the past.