Thanks for asking!
Well ... most likely no.
When a real estate agent lists someone’s house for sale, they negotiate how much commission they are going to charge the seller. The agent and the sellers also determine how much of that commission they are going to offer to the agent who brings the buyer.
For example, Joe Agent has decided to list a house at 1234 N 4th St for Mr. and Mrs. Smith and he has negotiated that he will charge the sellers 6% of the sales price to sell their house. He also indicated that he will offer 3% (half) of that commission to whichever agent brings a buyer for the Smith’s home.
So, what happens if you approach Joe Agent without your own real estate agent? Some people think they have saved the 3% that Joe was going to give to the buyer’s agent. However, this is not the case. Joe will keep all 6%!
And that’s fine in some respects, because Joe is doing all the work for both sides of the transaction. However, Joe’s legal and ethical responsibility in this scenario is to do what’s in the best interests of HIS clients — Mr. and Mrs. Smith. And that is probably not getting YOU the best deal on the sale of their house.
Now, if you sign a Buyer Representation Agreement with Joe, he is legally and ethically obligated to do what’s in YOUR best interests, as well. His job will be to negotiate a win-win scenario for you and the Smiths. There is nothing wrong with this situation. However, if you don’t know Joe from Adam, wouldn’t you rather have someone you know and trust represent you in the purchase of your home?
We would be more than happy to help you and promise to always look out for your best interests!
And always remember, if you or your friends or family have real estate needs, we are your Boise, Idaho and North End real estate experts. If you are interested in searching for your next dream home, please click here.
