20Dec/102
How sincerely do the realtors try to get the property at the best price for the buyer?
Do buyers' agents sincerely try to get the property at lowest possible prices? Are they are more interested in making the deal so that they get paid?
Do buyers' agents sincerely try to get the property at lowest possible prices? Are they are more interested in making the deal so that they get paid?
December 20th, 2010 - 06:23
Well, studies show that dual agents average a 3% reduction in price, buyer agents average 4%, and exclusive buyer agents average 8%. http://www.naeba.com
So, the typical buyer agent does very little extra, despite what they’re legally required to do. If you want to maximise your protection, find an exclusive buyer agent. Doesn’t mean you still won’t get screwed, but they’re your best shot.
December 20th, 2010 - 06:44
That’s a loaded question. I’m from Missouri, and worked at a Title Company for many years so that’s the only state I’m familiar with. Each agent is different, but keep in mind they are in the business to make money and they are going to do everything possible to close the deal. Some are honest some are not. I hope you chose carefully. A lot depends on what your home appraises for. Their commission depends on the price they get, so that causes them to want to list the higher priced homes. If your home is not highly appraised you might look around for a newly licensed agent. When I first got my license I worked like heck for every home I listed whether it was a shack or a big house. Be sure to look at every paper you sign. Don’t ever let them shove something at you, give you a pen and say “sign”. Or they might say “that’s just routine.” Read everything. Just proceed with caution. I sincerely hope that you selected a good agent, and that they will work with due diligence for you. Any questions you have you can contact your local Real Estate organization or the state agency.