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I May Not be The Listing Agent But I Can Certainly Help You

My Los Angeles colleague, Jane Peters, states so clearly just why real estate buyers need to be represented by their own agent. Same holds true here in San Mateo County and the Silicon Valley. Think about it -- it makes sense.

I receive calls all the time from people searching Los Angeles homes for sale on my site asking if I am the listing agent on a particular property.  I wish all the properties found online were my listings…..The Deal

When I say I am not, sometimes people will say thank you, and try and find the listing agent thinking they are going to get a deal.  It’s not that I blame them.  Logically you would think that would be the case:  the seller is paying commission for both sides of the deal, 50% to the listing agent, and 50% to the buyer’s agent.  So, if the listing agent represents the buyer (dual agency) they are going to get double the commission.  Or maybe they made a deal with the seller that they would lower the commission a little if they brought in the buyer.  In any event it is in the listing agent’s, and maybe the seller’s best interest for the buyer to go direct.  And consequently you the buyer are going to get a better deal, right?

Wrong.

You the buyer need to understand that no one in the above instance is representing you alone.  It would be like going into a car showroom and thinking that the salesman there has your best interests at heart.  They are working for the dealer who is paying them and wanting the most money they can get.  Sure you can negotiate and think you are getting a deal, but you always walk out thinking you could have gotten a better price.  I don’t like to walk into a showroom on my own.  I have no clue what I am doing and never know if I am getting a deal or not.  I wish they had professional car buyers, I would hire one in a minute.  Not, of course, that the car salesman owes you anything.

As agents we are bound to provide a fiduciary duty to our clients, meaning we owe them our full and best service, whether we are representing a seller or a buyer.  But I don’t think that is entirely possible when we are representing both sides of a deal.  Imagine the seller telling the agent what their bottom line is and then the buyer telling them the same thing.  And understand that an agent cannot disclose to one side what they know about the other.  That is an extremely difficult negotiating position to be in.  And remember who is paying the commission!  How comfortable would you as a buyer feel in a situation like that?

Let’s say you are successful with your offer, that is not the end of the representation you are going to need.  What about the home inspection? Negotiating the repairs you may want can also break a deal.  The listing agent will be negotiating those too?  What if further inspections are required, hard as they may try, how motivated will the listing agent be to delay the removal of your inspection contingency to wait for those?

This is not to say the listing agent cannot do this.  Of course they can, but somehow, some way, don’t you think you might think you would have ended up better off if you had your own buyer’s agent negotiating for you?

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Buying or Selling Los Angeles Real Estate

Buying or selling a Los Angeles home can be a daunting process in a city this size, especially if you’re new to L.A. Town. You’ll need a resident expert to show you around and help you narrow down the areas where you might like to live. I will help you find the perfect home in the right area to fit your lifestyle, budget and needs!

When I list and sell Los Angeles homes for my clients I strive to make the experience a pleasant one. My mission is to provide outstanding service while utilizing the best practices and systems available.

If you are an absentee owner, you’ll need someone to handle all the details that you can’t handle remotely. That’s where I come in – I’m there when you can’t be. I also specialize in lease property in Los Angeles.

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For more information on how I can best serve your Los Angeles real estate needs, don’t hesitate to fill out the contact form or give me a call at 310-473-6919.


Read more: http://www.homejane.com/no-im-not-the-listing-agent-but-i-can-help-you-get-the-best-deal.html#ixzz1vu6GL49U

Jane Peters, connecting you to the L.A. real estate scene

Buying or selling real estate in Los Angeles can be an overwhelming process.  Contact Jane Peters, Los Angeles realtor specializing in absentee owners, out of town buyers, and those who need that extra attention, in order to make the transaction a smooth, trouble-free, and fun experience.

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Lottie Kendall, Realtor®

Compass

CA DRE#10215160; 650-465-4547

Lottie@LottieKendall.com

www.LottieKendall.com

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Comment balloon 3 commentsLottie Kendall • May 26 2012 08:34AM

Comments

As a listing I just love to list and get these types all the time after all next to the seller who knows the house better.

Posted by Charles Stallions, 800-309-3414 - Pensacola, Pace or Gulf Breeze, Fl. (Charles Stallions Real Estate Services ) almost 8 years ago

Thanks for the reblog, Lottie.  In the end a buyer is going to save more money by using their own agent who will be fighting to get them the best deal possible.  The listing agent will not.  It isn't possible.

Posted by Jane Peters, Los Angeles real estate concierge services (Home Jane Realty) almost 8 years ago

Lottie:  This was a great choice for a reblog and a good lesson on Agency and the benefit of having someone represent you as the buyer in any Real Estate transaction.

Posted by Doug Bullwinkel, Mortgage Loan Originator NMLS #281609 (Envoy Mortgage, NMLS 6666) almost 8 years ago

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