Well, here we are. Another Tuesday, another Tip. It's time we explain a common myth that buyers have. They think they will get a "better deal" or "higher chance" of an accepted offer if they go directly to the listing agent.
Raise your hand if you thought so, too. To get straight to the point, Realtors have an ethical and fiduciary duty to EACH buyer and seller INDIVIDUALLY.
We wanted to talk about our own experience. When we work with sellers, we emphasize that our goal is to get your the MOST amount of money with the LEAST out-of-pocket. We wouldn't want to weasel in our buyer's offer at a better deal, because we then wouldn't be keeping our word of trying to get sellers the most for their money.
If you are a buyer, you need a Realtor who will go to bat for you. They should be knowledgable of the market and how to make your offer look as good as possible. Also, Realtors spend a lot of time and energy on their buyers. They don't get paid until the transaction closes so they want to help you find your dream home.
Another thing to consider, the listing agents are getting bombarded with calls and "looky-loos" who are not necessarily intreseted in buying the home. This makes agents less eager to jump up and show you the listing. They want to vet buyers to make sure they are serious. One of the first things a listing agent will ask when you call them is, "Are you working with a Realtor?" They want to respect the relationship you already have established with your current Realtor. Also, they can communicate and ask/answer the right questions.
Yes, you're not required to commit to one Realtor. However, in our opinion, staying committed to one, good Realtor will give you the best representation and experience.
Lastly, it is not wrong or bad for Realtors to "double-end" a transaction by working with the buyer and seller. Sometimes it happens. A listing agent might happen to have a buyer for their listing. But, the end goal shouldn't be to only sell you their listings. They should be willing and eager to show you any home that could potentially be your "Dream Home". A reputable Realtor should know where their boundaries and loyalties lie with each Buyer and Seller if they do represent both in the same transaction.
