Donna Yates, Move 2 North Georgia.net: Get Your Own Agent, I Work For The Seller!

Get Your Own Agent, I Work For The Seller!

I found Doug's blog today and thought he really nailed the reasons why a prospective buyer should get their own representation.  I think this is important information for a real estate agent as well.  Good advice and reasons why buyer's should have a professional advocating on their behalf. 

Doug Rogers Bayou Properties Realty

Buyers will often call "the name on the sign" in the hopes of securing a better deal. After all, who knows more inside information about a home than the listing agent? In theory the logic is sound, but let's take a moment to see how this logic falters in practice...

1) The Listing agent represents the seller-- We have a contract to secure the highest price, and best terms for our seller clients. In fact, we have to put the seller's needs ahead of our own. If we are advocating "best terms" for our seller, guess who is advocating for you?

2) Agents typically cannot negotiate commission-- Prior to becoming an agent, I fell for this logic myself. After all, the agent can cut part of his/her commission to make the deal work, right? Sellers agree to a certain commission with the Sponsoring Broker of the firm. Guess how willing most brokers are to give away money?

3) Even if they can cut commission, most agents will not-- A buyer represents a second deal for the agent. Why would an agent take on a second work load without compensation? Do you work Tuesday for free because the boss paid you for Monday?

4) Disclosing "insider information" can cost  an agent his practice-- "Relax, my seller HAS to sell in 30 days or else" type statements can get an agent in a ton of trouble. And if the agent does engage is such behavior he/she is likely to throw you under the bus as well.

5) Foreclosure agents are graded based on performance-- Think you are going to steal that listing for pennies on the dollar by working with the listing agent? Think again. Foreclosure companies grade their agents on the transaction terms. The agent who consistently under performs will likely be replaced.

 When searching for your home find an agent to represent YOUR interests. In most cases such representation costs the buyer nothing out of pocket. Need help in Central Louisiana? Call Doug Rogers with Bayou Properties Realty today (318) 613-1994.

Doug Rogers Bayou Properties Realty

 

Doug Rogers

Broker/Owner

Bayou Properties Realty

 

 

Donna Yates
Associate Broker, GRI
706-633-0644 Mobile
Serving North Georgia Mountains and Metro
Metro Brokers - Better Homes and Gardens Real Estate
706-515-7500 Office

MOVE 2 NORTH GEORGIA - HOMES FOR SALE

SEARCH GEORGIA HOMES FOR SALE

 

 

 

 

Comment balloon 5 commentsDonna Yates • April 24 2012 08:21AM

Comments

Thanks for the re-blog!

Posted by Doug Rogers, Your Alexandria Louisiana Agent (Bayou Properties) about 5 years ago

Thanks to both Doug and Donna. I also fully agree and think it is in all parties ebst interest.

Posted by Michael Maynard (New Neighbors Realty) about 5 years ago

I think it is in everyone's best interest to have their own representation. I wish car dealerships had such a thing.   I would love to have the peace of mind of having an agent represent me during the purchase of a car!

Posted by Chuck Wartman RE/MAX Properties, Inc Colorado Springs Realtor, Colorado Springs Realtor (719) 231-5525 RE/MAX (RE/MAX Properties, Inc. 719-231-5525) about 5 years ago

I love it, chance to double the sale and we are turning them away, LOL I double end about 47% and have not problem since we are Transactional Brokers

Posted by Joyce Kelley, Buyers Agent 800-309-3414 Pace and Gulf Breeze,Fl. (Charles Stallions Real Estate Services Inc) about 5 years ago

Michael: Truly in each party's best interest.

Chuck: How many times have I wished the very same thing!

Joyce: That's true, you make a good point about Transactional Brokers.  I am not against getting both sides of the sale but if I focus on what's best for each party and not so much for me, I say it's better for them to have their own representation. As long as I've made that clear up front and the client I represent is ok with me working both sides, then I'm open to it as well but I'm not willing to cut my commission because of it. If a buyer wants to opt out of representation at that point, ok by me.  The other point I took away from Doug's post is how buyer's think they can get a better deal by cutting commission since an agent would be getting both sides and this is where I think agent's should educate the buyer. I'm wondering how other agents handle that situation when working both sides?

Posted by Donna Yates, Blue Ridge Mountains (BHGRE - Metro Brokers) about 5 years ago

This blog does not allow anonymous comments