Is It Better To Go With The Listing Agent?

Is it OK to use same realtor as seller?

Working with a seller’s agent is always an option when you’re buying a house, but should you.

In the real estate biz, one agent representing both the seller and the buyer is called dual agency.

Although it’s legal in some states, many real estate agents—and house hunters, too—see dual agency as a conflict of interest..

What should I not tell my real estate agent?

Ross says there are three things you never need to disclose with your real estate agent:Your income. “Agents only need to know how much you are qualified to borrow. … How much you have in the bank. “This is for your lender to know, not your real estate agent,” he adds.Your personal and professional relationships.

Is it illegal to contact the seller of a house?

Contact the seller. It’s unlikely your real estate agent will be happy with your doing this, but it’s not illegal for you to contact the seller directly to ask about your offer. However, be prepared: This might not go over well.

Can I speak to the house seller directly?

Contact the seller directly Once negotiations have begun, a buyer might decide to drop the seller a note through the door of the property that they hope to buy. By speaking to the seller directly, a first-time buyer may be able to learn more about the property and what the seller wants in terms of an offer.

Can Realtors lie about multiple offers?

An agent has ZERO incentive to lie about multiple offers. An agent wants the property sold so they can get a commission. They do not want to scare away potential offers if there are none.

Dual agency occurs when a buyer and seller let a single real estate agent (or two agents from the same brokerage) represent them in a transaction. Dual agency is illegal in eight states: Alaska, Colorado, Florida, Kansas, Maryland, Oklahoma, Texas and Vermont.

Why do Realtors get 6 percent?

This commission is taken right off the top of the selling price of the home, so many sellers don’t really feel the impact because they never had the money to begin with. … This rate landed at around 6% of a home’s selling price, which included commission for both the buyer’s and the seller’s agents.

Is it better to be a buyers or sellers agent?

As a listing agent you control your time better. As a sellers agent, you set the timeline for your appointments, open houses, inspections and showings. Most of a buyer’s agent day is spent on nights and weekends when their clients have the time to look, but sellers agents can set a more normal schedule.

Is it OK to contact the sellers agent?

Can buyers contact a listing agent directly? Technically—yes. The only people who may frown upon contacting a listing agent are buyer’s agents, who make their commissions based on representing buyers. But there is no law or rule saying a buyer cannot contact a listing agent.

Why do Realtors not want buyers and sellers to meet?

Why is it that agents are so reluctant to let buyers and sellers get together? Unlike most business deals, the sale of a home can get very personal and real estate agents are nervous about the parties dealing with each other. That’s because most agents have seen what can go wrong when buyers and sellers meet directly.

What if your realtor is also the listing agent?

In your situation, your real estate agent is the listing agent and is also your buyer’s agent. In this case, your agent is considered to be a dual agent; and because an agent can’t hold a fiduciary duty to you and the seller in the same transaction, your agent’s role in the transaction is diminished.

Can a Realtor represent both parties?

“Agents can act as a dual agent. But you need to have the consent of both parties in writing beforehand, and the agent has to become a neutral party representing both clients,” says Mikel DeFrancesco, a top-ranked broker who’s sold over 74% more properties in Quincy, Massachusetts than the average agent.

Are you obligated to a real estate agent?

A: Unless you signed a Buyer/Broker agreement with the first Realtor you are not legally required to use them. Do your due diligence when selecting a Realtor and don’t forget to get pre-approved for a mortgage before starting out on your quest. The best agent for you will be one who really knows the local market.

Can your realtor tell you what to offer?

While some REALTORS® may be reluctant to disclose terms of offers, even at the direction of their seller-clients, the Code of Ethics does not prohibit such disclosure. In some cases state law or real estate regulations may limit the ability of brokers to disclose the existence or terms of offers to third parties.

Does the buyer usually pay closing costs?

Closing costs are paid according to the terms of the purchase contract made between the buyer and seller. Usually the buyer pays for most of the closing costs, but there are instances when the seller may have to pay some fees at closing too.