When it comes to buying or selling a home, choosing the right real estate agent can make a huge difference in your buying and/or selling experience.
One of the biggest misconceptions (and I hear it all the time) is that many people think they have to work exclusively with a listing agent to purchase real estate. Yes, the listing agent has a lot of knowledge about the property, but the reality is that clients have the freedom to choose which real estate agent they would like to view and contract the property with. We believe this topic is important enough to explore and explain why choice about who represents a customer in a transaction is essential for customers.
What is
Listing agent?
A listing agent (also known as a seller’s agent) is responsible for representing sellers in real estate transactions. They work to get the best deal for the seller, including negotiating the sales price and ensuring the property is effectively marketed. In some cases, a listing agent may act as a dual agent, representing the seller and buyer in a transaction.
What is
Buyer’s agent?
Buyer’s agents, on the other hand, exclusively represent buyers. They focus on finding properties that match the buyer’s criteria and negotiating on the buyer’s behalf to ensure they get the best deal possible. Buyer agents work for buyers, and their goal is to make the buyer’s real estate purchase process as smooth and successful as possible.
Advantages of choosing your own broker when purchasing a home
l Get your undivided attention — Choosing a different agent than the ones listed will ensure that you get the agent’s undivided attention. The agent has loyalty to you in the transaction and will guide you accordingly.
l Customized Real Estate Search — A buyer agent will listen to your preferences and search for properties that meet your specific criteria. It also provides insight into neighborhoods, market conditions, and potential issues you may not be aware of.
l Negotiation — Negotiating real estate transactions can be difficult. Your agent will negotiate on your behalf to secure the best possible price and terms.
l Paperwork and legal procedures — Real estate transactions involve a large amount of paperwork and legal procedures on both sides of the transaction. Your agent will manage these aspects and ensure that everything protects your interests.
While it’s perfectly fine to work with a listing agent to purchase a listed property, it’s important to make sure the listing agent also has your best interests in mind.
Make sure they communicate with you frequently and give you equal representation throughout the transaction.
Also, if you are already working with an agent you like and are already hard at work finding a home, it is best to contact that agent rather than the listing agent to view properties and write a contract. Please also keep in mind that. They’ve already worked hard for you, so it’s important to let them stick with you until the end.
So the truth is, customers have the freedom to choose any real estate agent they want, not just the listing agent for their home. Finding the “right” real estate agent is an important first step in the home buying process.
If you’re looking for a home, find a dedicated agent who will take the time to understand your wants and needs, listen and communicate regularly, and negotiate on your behalf. It’s comforting to know that someone is looking out for your best interests during the biggest financial transaction of your life.
Michael Stevens is the 2023 President of the Youngstown Columbiana Association of Realtors.