Many home buyers are not getting the full representation they deserve because they fail to recognize a few simple facts. Most real estate transactions are biased in favor of the seller.
That’s because most real estate agents represent—either partly or entirely—the seller. As representative of the seller, most real estate agents are duty-bound to work against the interests of home buyers. Also a home’s listing agent is not on the home buyer’s side. Finally, these facts can apply to REALTORS® even when they call themselves a “buyer’s broker.” The best protection against the built-in skew of the system, of course, is to contact The Home Buyers, Inc.
They may be very well-intentioned. But as noted, they’re just doing their job; it simply is not in their interest to tell you things that might be detrimental for home buyers.
In fact, even if they wanted to tell you things that might benefit you, they may be prevented contractually—or even legally—from disclosing critical information. If you want to arrange a showing, do not contact the listing agent. To make sure your interests are served, contact The Home Buyers, Inc. Blame the way the real estate industry is set up. Accepted practices—not to mention the law, in some cases—are very specific about when and how a REALTOR® must represent the seller. The real estate agent’s obligations to the seller can put a home buyer at a real disadvantage.
The Listing Agent Is Not on Your Side
As a home home buyer, any time you call a home’s listing agent, you’re putting yourself in a vulnerable position. That agent—the one with the name on the yard sign, in the newspaper ad or on the multiple listing service—represents the seller. He or she is not on your side.
Who “Buyer” Agents Work For
Most real estate agencies offer to represent both home buyers and sellers. Some of these dual agencies even designate some of their real estate agents as buyer brokers or buyer agents.
This arrangement is supposed to assure home buyers that their agency—even though it is not an exclusive buyers agency—will do a diligent job of representing their interests.
But, as a home buyer, there are still questions that nag at you. How impartial can an agent be if his or her employer benefits from you buying a particular house? How important are your interests if the agency benefits from you paying top dollar? And, how thick is that firewall that protects what you need the agent to do for you from what the agent is required to do for the seller?
You know why lots of second-time home buyers choose an Exclusive Buyers Agent over a traditional real estate agency? It's because they've already been through the process—and realize there's a better way to buy a house.