Buying home is a BIG DEAL and it can be scary. This is why we strongly believe that EVERY buyer should have their OWN representation. Working with a skilled agent who works exclusively for you could greatly influence the outcome of your home buying experience. Here are some common myths.
MYTH: YOU WILL GET A BETTER DEAL IF YOU DEAL DIRECTLY WITH THE LISTING AGENT, YOU WILL HAVE A BETTER CHANCE OF WINNING IN MULTIPLE OFFERS IF YOU WORK DIRECTLY WITH THE LISTING AGENT OR WORKING DIRECTLY WITH THE LISTING AGENT, THE BUYER WILL GET INSIGHTS ABOUT THE SELLER FOR NEGOTIATIONS
The listing agent WORKS FOR THE SELLER and is obligated to protect the seller’s interests. In Nevada the listing agent can also work for you if all parties agree and a Consent to Act form is signed. The following language is right on the form. “CONFLICT OF INTEREST. A licensee in a real estate transaction may legally act for two or more parties who have interests adverse to each other. In acting for these parties, the licensee has a conflict of interest.” Don’t you want someone working exclusively in your best interest?
MYTH: THE LISTING AGENT WILL CUT THE COMMISSION THEY CHARGE THE SELLER IF THEY REPRESENT BOTH SELLER AND BUYER
The commission is negotiated upfront between the seller and the listing agent, and written into the listing agreement, usually a percentage of the sale price. The listing agreement is a contract between the seller and the listing agent. Then, the listing agent agrees to share that commission with any “cooperating” agents when the property is marketed on the local MLS (Multiple Listing System). The listing agent is not obligated to reduce the negotiated commission if representing both parties.
MYTH: I DON’T NEED A BUYER’S AGENT WHEN PURCHASING NEW CONSTRUCTION, THE VERY HELPFUL SALES AGENT IN THE OFFICE IS MY AGENT
When you visit a new home subdivision most have notices on the door that state if you want buyer representation the agent must be with you the first time you visit the sales office. If you want to be represented DO NOT ENTER the door (or sign up on the builder’s website) without your agent. The agent in the sales office represents the builder. If you do not bring your agent with you, you will be UNREPRESENTED.