Do I Need A Buyer's Agent
This is a question that is not typically asked because many buyers don't recognize that they don't have representation in a transaction unless they consciously choose a buyers broker. A buyer's broker protects you. A buyer's broker is your representative. I have been amazed over the past 30 years buying and selling real estate that most real estate buyers have no idea how the process of purchasing real estate works.
The seller generally contracts with a listing agent to market their property. In doing so, the listing agent represents the SELLER'S interests contractually. The listing agent is obligated to get the highest price for their client, the seller. By law, the listing agent has a duty to the seller. Moreover, the seller's agent has agreed to pay some compensation to other agents to bring them a buyer. Those selling agents use various multiple listing services (MLS) to promote and make these listings available to the public. Part of their membership in the MLS is an agreement to share compensation. These are called cooperative compensation agreements whereby the buyer of property can have the representation of a buyer's agent. It COSTS THE BUYER NOTHING. The buyer's agent gets compensated and the buyer, you, has someone to represent your interests. Just as an attorney cannot represent both parties without a conflict of interest, similarly, using the listing agent to buy the property you want, typically is not in your best interest. You need someone to
look out for your interests and negotiate on your behalf. The listing agent CANNOT wholly represent your interests. DO NOT BUY REAL ESTATE, without having your own agent.
I have had some buyers tell me that if they call the sellers agent they get faster information and they will be able to purchase the property for less. In some cases I suspect they can get information on the property faster but at what cost ultimately? Unless you are an exceedingly gifted negotiator with some experience, the likelihood that you are going to get a property for less working with the listing agent is about 0%. I have NEVER, in 30 years, seen a good end to that theory. However, I know without a shadow of a doubt that my buyers get the lowest possible price for their properties.
A buyers agent can help you identify a property that will meet your needs. A good buyer's broker/agent will help you develop a strategy for making offers and then execute the negotiations to culminate in an exceptional deal for the buyer and a win for the seller at the same time. Seasoned buyer's agents sometimes even are aware of properties that meet your criteria that are not yet on the market but the owners would consider selling. A good buyer's agent is worth getting to know if you are serious about buying real estate. Even if you don't use Laura and me as your buyers broker, please find a competent agent you can trust and work with. It will save you countless hours in searching for property and it will save you money in the long
Bitterroot Valley Real Estate- Craig Siphers, Senior Broker
Providing trusted consultation on buying and selling Montana
real estate for over 30 years in Lolo, Florence, Stevensville,
Victor, Corvallis, Hamilton, and Darby. Call or text Craig Siphers
at 406-360-9108 to make a legendary deal!