So You’re Shopping for a Home!
So you have been searching for homes online, driving by properties that pique your interest, and you finally find one that looks perfect. Now what?? Do you contact the agent on the yard sign or on the online listing? While that may seem like the most logical step, it is a common home buying mistake based on several myths and misunderstanding – Read the following Assumptions.
You think it is best to contact the listing agent because they are already familiar with the property benefit and features.
Well, of course the listing agent knows the property, but that’s because they have been HIRED by the Sellers to get their property sold. That’s their job! They represent the Seller and the Seller’s interest in the transaction and sell the home in the shortest amount of time for the highest price possible. They market to potential buyers and buyer’s agents to accomplish their task. Buyers might be better served if they avoid the listing agent because anything you tell the listing agent could put you in a poor negotiating position. By selecting a Buyer’s agent to show you the property you have in mind, you will receive benefits that a listing agent might not be able provide. For instance, they will arrange the showing in light of your real estate goals. They will point out things that you may have concerns over. A Buyer’s agent will also show you listings you may not have seen that fit your criteria and might be a better buy.
You think you will be able to buy the home for less because you will be saving the Seller money by using THEIR agent.
NOT TRUE. Commission paid to the buyer’s and seller’s agents are predetermined and written into the listing agreement; in most cases, if the listing agent brings a buyer to the table, the brokerage will earn both sides of the commission. That is not always the rule, but it is generally what happens unless there is an agreement to change the commission if the Seller’s agent represents both parties. While multiple representation is legal and used often in the State of Nevada, it is a misnomer because it is impossible to represent the interests of both the Buyer and the Seller. The only way it is remotely advantageous, is when the transaction has no controversy whatsoever.
All real estate agents are basically the same, so I might as well just use the Seller’s agent.
Again NOT TRUE. As with all professions, there are some agents that deliver a higher standard of care and service than others and you need to find an agent with which you feel comfortable. This is, in most cases, the largest purchase you may make and you need to have the confidence that YOUR agent is working for you and your goals. Make sure that the agent you pick is experienced (hopefully, living and working in the area), familiar with the area, and has access to all the home listed in the area – make sure they are a member of the National Association of Realtors® – A REALTOR®. If you are looking for a home in Southern Nevada, check out our website at: www.landandmore.com/house/ for accurate, up-to-date listings. Or just give me a call, my name is Norma Jean Opatik and my number is 775.727.5858 and I will be happy to help. Hope this has been informative – Happy House Hunting!