By law, a Designated Seller’s Agent MUST “promote the interests of the seller with the utmost good faith, loyalty and fidelity” and MUST “protect the seller’s confidences…” A smart seller will hire a good seller’s agent to work for them in this fashion – As they should.
What does that mean for you, the buyer?
Simply put, the seller’s agent is only looking out for the seller. Understanding this, it is important to realize that what you say to a seller’s agent may compromise your ability to negotiate the best deal for you. If, for example, during an open house, you casually mention to the seller’s agent that your family must be relocated by the end of the month to accommodate the start of a new job, the seller’s agent, by law, must “promote the interests of the seller” by letting the seller know about your situation. As a result, the seller is now aware that you are somewhat desperate and must move quickly, thus compromising your ability to negotiate the best deal.
How does this affect your bottom line?
Remember, the seller’s agent is “promoting the interests of the seller… and protecting the seller’s confidences…” Usually, the interests of the seller consist mainly in getting the best price for their home within a given time period. Even if the seller’s agent knows the seller has enough equity and is willing to accept $10,000 less than the asking price and, in fact, the home may not be worth what the seller is asking, the seller’s agent cannot, by law, disclose that information to you. Without a real estate professional working hard on your behalf by providing you with experienced and accurate market information, you may end up paying more than necessary to purchase that particular home.
McGrew Real Estate Realtors are trained buyer’s agents, too. By law, a Designated BUYER’S Agent MUST “promote the interests of the buyer with the utmost good faith, loyalty and fidelity” and MUST “protect the buyer’s confidences…” Better still: In most cases, no out of pocket cash is required for you to obtain the services of a Designated Buyer’s Agent. The agent’s fee is paid from the transaction, and usually comes directly from the seller’s side!
What can a McGrew Designated Buyer’s Agent do for you?
If you are thinking about trying to complete a real estate transaction without the assistance of a real estate professional, consider this: climbing and descending a technical mountain is simple in its premise. You go up the mountain and you come down. Even the most unskilled individual can accomplish some, if not all of the climb. The condition they end up in, though, may vary greatly. A climber with an expert guide not only has a greater chance of getting to the top, but also getting back down, and living to talk about it. The same truths are applicable in a real estate transaction. Your McGrew Real Estate Designated Buyer’s Agent will not only get you ‘up the mountain’, but also ‘back down safely’ by leading you on the path that is best for you. Let our experience and knowledge light your path and help you avoid a disastrous experience. Remember, getting off the mountain is the easy part. It’s how you get off the mountain and how you feel at the bottom that makes the difference.