Advantages Buyers Have over Sellers
Did you know that as the home Buyer, your Real Estate Agent's commission is paid by the Seller in almost all circumstances? This means that having an Agent who is fiercely loyal to you costs you nothing!
The Seller's Agent has a Fiduciary Duty to the Seller, which means he is legally required to 100% support the Seller's Financial Interests. This means that anything you say to him can & will be used against you (by law)!
In contrast, a Buyer's Agent has a Fiduciary Duty to the Buyer, which means she is required to completely support the Buyer's Financial Best Interests. As the Buyer, having your interests protected by a knowledgable and intelligent professional who understands the local Market and laws is extremely valuable! And by long-standing Real Estate convention in America, it's usually even free.
So be sure to get your own Agent who fully represents YOU and has a legal duty to protect your best interests. Level the playing field; It costs you nothing! And you will be glad you did, especially if any hiccups arise during the home-buying process.
For example, suppose you allow the Seller's Agent to convince you to accept "dual representation" and believe their earnest claims that they can fairly represent both you and the Seller at the same time. What do you think will happen if you find a deal-killing flaw with the property? Do you think the Seller's Agent will encourage you to walk away from it, thereby sacrificing their double commission? Or do you think they'll encourage you to "negotiate" and accept the flaw in exchange for some Seller concession?
By contrast, when you have your own Buyer's Agent, they have loyalty only to you, not the Seller. And they will help you do the right research and make the best decisions possible throughout the buying process, including asking the tough questions and finding hidden issues. Which may mean walking away from a bad deal, knowing full well that they can help you find a better one.
So do YOURSELF a favor and get your own Agent. It costs you nothing and could save you everything!
- Melveen Fredeluces