Lynn's Blog

Isn’t it true that I will get a better price on a home if I call the listing Realtor?

Isn’t it true that I will get a better price on a home if I call the listing Realtor?

In my job as a Nanaimo Realtor I often get asked questions like “Isn’t it true that I will get a better price on a home if I call the listing Realtor? “  When I get questions like this from buyer’s I realize that the public, as a whole, do not really understand the benefits of working with a Realtor when shopping for a home. 

I am going to write a few posts to help debunk some of these misconceptions.

1st debunker:

Isn’t it true that I will get a better price on a home if I call the listing Realtor?

Working with a Nanaimo RealtorFirstly, it is important to understand Agency.  The listing Realtor is in an Agency relationship with the seller.  He owes fiduciary duty to his client, the seller.  In other words; the listing Realtor will work in the seller’s best interest.  Now, you could request that the listing Realtor represent you as well. You and the seller must agree and sign papers indicating that you both agree to a dual agency relationship.  The agent will then work to represent both parties fairly.

There is nothing wrong with dual agency if both parties agree to it.  However, if you could work with a Realtor who would represent your best interests exclusively, wouldn’t it make sense to have a Realtor working for you?

To answer the part of the question regarding getting a better price by dealing directly with the listing Realtor; the answer is NO.  As mentioned above, even if the listing Realtor is going to receive both ends of the commission of the real estate transaction in dual agency, that does not mean that the seller will agree to lower his price.

Both Realtor's commissions are paid by the seller.  So, as a buyer, working with your own Realtor to assist you, in the sometimes complicated steps to home ownership, makes allot of sense!

For additional information on how a Buyer’s agent makes home buying easier please give me a call.

 

 

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