Buying a Home in Salt Lake City, UT

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Get Your Own Agent - It's common sense, right?

Get Your Own Agent when buying a home. GetYourOwnAgent.comYesterday a client asked me why we have a website telling people they should get their own agent when buying a home. "Everybody already knows that, right?"

I let her know that MOST people out there don't know that. She didn't believe me. "You mean there are buyers that contact the agent representing the seller, instead of getting someone to represent them?"

I told her it happens all the time. And it's not a few people. It's a LOT of people. She couldn't fathom it.

Which I can understand. Our clients are smart people. They would never even consider that it makes any sense to work with the agent whose job it is to get a buyer to pay the most money for a home.

Yet, buyers do it all the time.

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Comment balloon 7 commentsBenjamin Clark • July 20 2012 08:40AM

Comments

I understand your comments and I also have heard clients tell me they only will deal with the listing agents.

Posted by Tim Lorenz, 949 874-2247 (TIM LORENZ - Elite Home Sales Team) over 6 years ago

Tim - I think my client would pass out if I suggested there are people out there thinking that way! Thanks for the comment!

Posted by Benjamin Clark, Buyer's Agent - Certified Negotiation Expert (Homebuyer Representation, Inc.) over 6 years ago

There is a very common " untrue" perception that if the buyer goes directly to the listing agent that they are automatically going to get the best "deal".

Let's just say a home is worth $800,000 and I price it for $789,000. I just did a CMA with the sellers and went over all the comps and explained to them why I am pricing it the way I am.

Now, here comes the buyer wanting me to get them a great deal. How hard is the listing agent going to go after his/her seller after promising them a certain price?

Or, if you are accepting offers on one day expecting a bid, this same buyer is going to have to pay top dollar to even be considered. Where is the great deal?

Perception is not reality.

 

Best,

 

Tap

Posted by David Tapper (Coldwell Banker) over 6 years ago

Tap - You are right. There are many up-front and behind-the-scenes conflicts and complications when a buyer works directly with the agent representing the seller.

There are no automatics. Buyers should find an agent they can trust. And that agent should have legal and contractual obligations to work in their best interests only. Then they can make better decisions... instead of trying to make decisions based on a distorted reality or with the uncertainty of whether the information they are getting is complete... or just hand-picked and carefully selected to make the sale happen.

 

Posted by Benjamin Clark, Buyer's Agent - Certified Negotiation Expert (Homebuyer Representation, Inc.) over 6 years ago

Good information for distribution.  There are many consumers that do not understand the real estate purchase process.

Many of us remember the times before buyer agents and it seems that there were even fewer problems.

Have an outstanding week with your camera in hand.

Posted by Roy Kelley, Roy and Dolores Kelley Photographs (Realty Group Referrals) over 6 years ago

Thanks Roy! One of the biggest problems is lack of information in the hands of consumers. I know that should not be the case today with the internet, but proliferation of bad information seems to be more rampant than good information consumers can trust.

One of the biggest issues in our industry is poor disclosure on agency representation. The agents do it wrong and then complain when a non-real-estate-professional consumer misunderstands. This is a black mark on the industry and we all need to be more professional and clear when explaining agency representation.

I feel another blog entry coming on.

Posted by Benjamin Clark, Buyer's Agent - Certified Negotiation Expert (Homebuyer Representation, Inc.) over 6 years ago
Wow! My clients would faint if they heard that too, but many of my prospects come to me after walking into a sales office alone or calling a listing agent from a sign. They really do not understand agency at all. When I ask them if they were getting divorced, if they would use their spouses attorney, they say of course not. Then they start to get the picture.
Posted by Dana Hollish Hill, Lead Associate Broker (Hollish Hill Group, Keller William Capital Properties) over 6 years ago

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