How many services are FREE these days...

Recently I met a young couple who had contacted me to arrange a time to see one of my properties. We met at the home, walked through it, talked for a while about what they liked and disliked, and then made our way to our vehicles to say goodbye. At that point, I offered to send them a list via email of current listings meeting their criteria. They explained that they preferred not to work with any one real estate agent and that they would look on their own and contact the specific listing agents to see properties that caught their eye.

I wanted to address this strategy via the blog, because I think many people (especially first time home buyers) may not realize the pros and cons of using one specific Buyer's Agent.

First and foremost, a buyer's agent works with their buyer, for their buyer, and in their buyer's best interest to find a home. They get to know their client, get a feel for what their client wants, and then is on the hunt for a home that meets their needs. The agent knows immediately when a home hits the market and can inform their buyer right away. When buyer's choose to look for themselves they typically use a homes guide, or Internet service. These are great resources but the information within can be a week to even a month old by the time it is published and/or circulated putting the buyer at a disadvantage to other buyers who are using their own agent.

Secondly, it is one of very few professional services that I can think of that is typically 100% free. The Real Estate Agents's commission is customarily paid by the seller as a percentage of the sales price. A buyer benefits from the real estate agent's time, attention, and expertise and the seller foots the bill. You can't get much better than that.

Third, many buyers are under the impression that a real estate agent can only show them what is currently listed by them or with their real estate company. Almost all offices everywhere are entered into a reciprocal agreement via their local MLS (Multiple Listing Service) where by each agent has access to info and can show any listing on the MLS.

So the long and the short of it is ... Finding one buyer's agent that you like and feel comfortable with is a win - win situation. No negatives - only positives.

Here's a post note - let's say you choose a buyer's agent, you look at several homes, and in the end you fall in love with a home that happens to be your agent's listing. In this case your agent can act under a "Dual Agency Contract" and represent both you and the seller and thereby act in the best interest of both parties.