Can I Save Money If I Contact The Listing Agent?
I have been asked the question many times through out the years “would I save money if I contact the listing agent”.
The short answer is no. There are 2 sides to any real estate transaction.
1) The Listing Side
2) The Selling side
If the listing agent sells you the property he or she gets both sides of the transaction commissions.
Another thing to remember is that the listing agent owes any buyer honesty and confidentiality, however their fiduciary responsibility is to their seller.
In most cases the myth about saving money by going through the listing agent is just the opposite, because the listing agent has contracted with the seller to get the maximum amount for the property.
A sub-agent or buyers agent is more likely to help facilitate a better contract for the buyer than would a listing or sellers agent.
I love busting Real Estate myths, so if you have one please email it to me.
Rhonda
2 Comments:
If a listing agent is representing both Buyer and Seller their fiduciary responsibility is to BOTH PARTIES. NOT TO ONLY THE SELLER AS YOU HAVE STATED.
The listing agent is more likely to give a better deal if they are representing both parties 99% of the time.
When you enter into a dual agency situation, you cannot disclose to either the buyer or the seller any confidential information, such as financial ability of buyer to offer more money, or the willingness of the seller to take a lower offer. You become merely a facilitator. The buyer almost never ends up with a better deal - the market value is the market value no matter how many agents are involved.
Now, for the cheap plug... Search the Chicago MLS Online at YourInternetAgents.com.
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