I receive calls weekly from potential home buyers that are interested in my listings, but are not working with a buyers agent. Some take it a step further and only want to work with the agent that is listing the property. In this case I'm asked to represent both the buyer and the seller in the transaction. This is called "double ending" a deal as it means an single real estate agent will receive the commission on both the buyers and sellers side of the real estate transaction. I can count the number of times on a single hand that I've represented both the buyer and the seller in the same transaction. I think it's ethically a rocky road and not something I'm entirely comfortable doing.
If you were getting a divorce would you want your spouse to share the same attorney as you? Absolutely not! I don't think it should be any different in a real estate transaction. I believe a Realtor should be there to represent their clients interest above all else. This is difficult when you have to try and represent both the buyer and the seller, you've now got split loyalties. During the transaction this means the buyer and seller may now have a certain level of "distrust" towards the agent. Neither party can be certain that the agent is looking out for their interests.
You don't need a buyers agent to buy real estate, and you don't need an attorney in a court proceeding. Just as a judge warns a defendant against self representation, buyers without an agent should be warned as well. A buyers agent will walk you through the inspection process, ensure that you are adhering to time lines set forth in a purchase contract, and communicate with the sellers agent to ensure a smooth transaction.
On the other side of this is a cautionary tale for sellers as well. If the agent listing your property brings in buyers at prices well below the listing value of your home, you will be left to wonder what they are telling the buyers they feel is the true value of your home. Too much distrust can quickly develop in these situations.
A final note on this topic. Working with a buyers agent can save you something that is arguably the most precious commodity, your time! You can comb through listings for hours trying to find the one you think is the best available, but that's what I do all day long, everyday. I can also give you my opinion on a property. Maybe you want to buy a condo and don't realize that the line of the building you want to buy in sells for less than the line next to it due to a lack of direct sunlight. Or you find a low priced low floor unit and haven't been into it to hear how much noise comes into the unit from the street and parking garage on the level below it. Maybe you found a home you think is priced far below market without realizing it's wood framed where the other houses surrounding it have CBS construction and sell at a premium. If you're looking for a home and want an agent to work on your behalf, please contact me.
I work as a real estate specialist in a small area of Fort Lauderdale. If you’re interested in buying or selling a home in: Rio Vista, Victoria Park, Downtown Fort Lauderdale, Fort Lauderdale Beach, Harbor Beach, Lauderdale Harbors, Collee Hammock, Seven Isles, Nurmi Isles, Idlewyld, or Las Olas Isles, please feel free to contact me at (786)443-7203 or through my email email@example.com.
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Written By Casey Prindle