You need to be market savvy and an excellent negotiator. You may use the seller's agent to write up your contracts. A reputable agent will guide you through the process and ensure your transaction is completed in a timely and professional manner. If you don't know an agent, ask around. Ask your friends, family, coworkers if they were happy with their agent and if they would recommend them. Select someone you feel comfortable with and allow that agent to work for you.
You do need to work with a buyer's agent to get the best deal on the house. Just make sure you appropriately interview them rather than just going with a relative/friend who happens to have a license. You don't part of your financial future tied to someone that does this "on the side"!
For someone who works with buyers I highly recommend you work with an agent who represents your interests. And most important in my mind, the listing agent is contractually obligated to represent the seller's best interests. Are the seller’s interests the same as yours? Nope. The seller wants the highest price, and you want the lowest price. Automatic conflict if there's only one agent involved.
And that's not to speak of the $1,000's of dollars in other negotiable items like closing costs, inspections, etc. that a buyer's agent should be working diligently to swing in your favor. Just make certain that you interview the agent and review all the contracts that you sign and understand them thoroughly. Remember that a buyer's agent is there to get you the best price. Listing agents work for the seller.
And that's not to speak of the $1,000's of dollars in other negotiable items like closing costs, inspections, etc. that a buyer's agent should be working diligently to swing in your favor. Just make certain that you interview the agent and review all the contracts that you sign and understand them thoroughly. Remember that a buyer's agent is there to get you the best price. Listing agents work for the seller.
All that said it is possible to deal with the list agent if you are comfortable negotiating and get a fair deal. Listing agents must deal with buyers fairly. As far as compensation the list agent usually pays the buyer’s agent fee. So yes, in a way it doesn't cost you anything. You get representation and the list agent pays the selling agent.
There is times I have worked with the buyer and the seller at the same time and I was sure to be fair to them both there has never been a time that I hadn’t let both sides know what was going to take place.
My recommendation are that you choose the agent who will represent you in the transaction, for you have a better chance in getting what you ask for. There are times when I will ask another agent in my office to work with the buyer if they feel uncomfortable with working with me while I representing the seller and that way both parties are feeling secure.
For all my WNY Home Buyers most of the time you are not charged for the services of a buyers Agent for the Agent is normally compensated by the seller in-turn we agree to bring them a buyer. Win Win or no deal.
To conclude if you ever need assistance finding a home in the WNY Buffalo NY Area please feel free to contact me any time and I will gladly help assist you with all your real estate needs.
What do you think?
What do you think?
Mark Key
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