Trying to DIY the home buying process is never a good idea. Real estate agents go through 90 hours of extensive training to get their licenses, and then must complete “continuing education” classes to keep those licenses valid. They are experts on home buying and selling and know the ins and outs of all the procedures, paperwork, and negotiation along the way. If you begin the home buying process solo, you might encounter listing agents who would prefer that they represent you and the seller. Here’s why you should never take them up on that offer.
A listing agent represents the seller. While a listing agent may try to explain that they can act as a “dual agent” for both you and the seller, they ultimately represent the seller’s best interest and their own self interest before yours–leaving them with an inherent conflict of interest when representing both of you.
You are left to negotiate on your own. The listing agent’s original client obviously wants their house to sell for as much as possible and the listing agent wants to close. Even if the negotiations shake out poorly for you, the listing agent isn’t ever going to tell you to walk away from a deal that gets them a double commission and makes their client happy.
A buyer’s agent is free for you to use. The other thing that many people don’t realize that having a real estate agent help you buy a home is actually completely free for you, the commission for both agents (yours and the listing agent) comes from the seller’s side. So there is really no reason to not have an expert on your side.
A buyer’s agent represents you and only you. Hiring a buyer’s agent means that you have a highly-trained professional ready to get you the deal you want. They’re not going to be emotionally attached to selling you on one particular house, they’ll be able to find you a good fit and a good deal.
At the end of the day, remember that buying a home is a legal proceeding. And just like you wouldn’t hire the same lawyer as the person suing you, you shouldn’t use the listing agent for the home you want to buy!
Are you thinking of buying a home in the near future?
