Many homebuyers are apprehensive about hiring an agent to represent them in their homebuying, as they think they can obtain a better price on the home they wish to purchase. This simply is not the case. There may be an indirect way in a very small percentage of cases that this could indirectly be true. Here's how it works in Colorado. When a home is listed for sale by a real estate company that represents the seller, that office has already negotiated a percentage by which both agents, one that represents the seller and another that represents the buyer, will share a commission. They will both be paid by the seller, when the home sells. This is the case in well over 99% of the time. So in other words, a homebuyer is doing themselves a disservice by not hiring an agent to work, negotiate and look out for their best interests. After all, the seller has an agent doing the same on the seller's behalf. A buyer needs someone in their corner to obtain the best possible price and terms that they can get on their future home. Now here comes that exception that could have some bearing on the purchase price that the buyer may end up paying. There are times when the agent representing the seller is asked by the seller it reduce their commission should they (the seller) or their agent bring in the buyer themselves, therefore, only having to pay a single agent. This could inspire the property owners to reduce their price some, since now they are paying a reduced commission. Again, it may or may not inspire the owner to reduce their price. So now you can see why it is in the best interest of a buyer to hire an agent to represent them. It will helpto make their homebuying experience a happy one that isn't filled with little unpleasant surprises along the way.
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- Frederick, CO
- Brighton, CO
- Thornton, CO
- Westminster, CO
- Northglenn, CO
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