Real Estate Agent Craig Summers Explains Why Buyers Need Representation in the Real Estate Transaction
One of the most common questions that home buyers ask is why do they need a real estate professional to help them buy a home? It might seem like it would be a lot easier to just go out on your own, drive around and find the house that you’re interested in. Many buyers do this and just call the listing agent directly to proceed with the real estate transaction. However, this can present a problem in some cases.
Most of the time, the listing agent on the house represents the seller. Many listing agents do not take on a dual agency capacity meaning that they cannot or will not represent both parties. In fact, some states do not even allow the practice of an agent representing two parties. Either way, it makes a lot more sense for a home buyer to have their own representation when dealing with a real estate transaction.
Think of it this way: When an agent lists a property for sale, they promise the seller to do their very best to get the most money for the property. When an agent contracts with a buyer to represent them, they promise the buyer that they will do their very best to get the buyer a fantastic deal on their property. If an agent is representing both parties, those interests can be conflicting because it might be impossible for the agent to get the seller the most money and the buyer the least money at the very same time.
Most of the time, the services of a buyer’s agent are paid for by the seller via the commission. The commission amount is set out at the beginning when the house is listed, so someone is going to make that money regardless. As a buyer, it makes more sense for you to have representation that is paid for by the seller but has your best interests at heart.
If you would like to know more about how buyer representation works in GA, visit my website at www.pauldingandpolk.com or contact me directly at 404 374 1620. I’d be glad to assist you by answering questions about the process!
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