Buyers Agent vs Sellers Agent

Does having a buyers agent instead of a sellers agent make much of a difference? It seems like a much better idea, but I dont understand why a sellers agent would want to work with a buyers agent (therefore losing half of their commission from what I understand?)

Or maybe I'm just missing the point totally.

If anyone could explain, I would be greatful.

Thanks!

A seller's agent has every interest to try to get you to buy their property without being represented. This lands them the full commission.

You will usually get the quickest closings this way. But the problem with this is... that agent will in no way look out for 'your interests' and may do some things you may not entirely agree with, just for the sake of closing the deal as fast as possible.

At least if you have a Buyer's agent... you can have that person look out for your best interests to a point (even though that agent wants the deal closed as well).


The best thing to do is to find a real estate attorney that has a brokers license as well. There are lawyers out there that will 'kick back commission' to you.

Example... you go look at a property a seller's agent is showing. Tell the agent you will have your attorney 'show you the property' since he has a valid real estate licence.

Then come closing time... the seller's agent gets 3%... your attorney gets 3%... and you get a cut of the attorney's 3% (whatever you agreed with).

this may be a stupid question, but how do you find a buyer's agent? can you walk into any real estate agency and find one? please forgive my ignorance, but i am new to the game.

Yeah... the best way to do it is... look at a couple of places. If you don't like a house... but you think the agent is nice and is willing to show you a ton of other properties... ask them to find stuff for you.

As long as the property is MLSed (not an exclusive)... anyone with a real estate license can 'show you' the property.

But if you do that, wouldnt that be a sellers agent and not a buyers agent??

I found this - sounds good to me.. but then again I'm new to this too!

Home Buyers Resource Center

He only becomes the dual agent if you take the house he is showing.


For instance... lets say you see a house thats listed by a Century21 agent. You call them up... have the agent show you the property. If you buy that property... that agent becomes the dual agent.

Now lets say you don't like that house... but you liked the agent. Just tell the agent to give you a call as soon as something good hits the market.

Another seller decides to just list her house with ReMax. RE agents have access to MLS stuff as soon as it hits the market (quicker than the public sees).

If that agent that you picked to be your 'buyer's agent' is good... they should call you ASAP and alert you of the ReMax listing.

Instead of going to ReMax directly to look at that house... the Century 21 agent will 'represent you' and show you that house (probably meet you out there). If you decide to buy the ReMax property... then you deal with a buyers and seller's agent splitting the comission.

Of course your Century21 agent is going to immediately want to show you any listings that THEY get cause they get full commission.

But the goal of a good agent is to alert you once new properties hit the market. Sometimes if a property is hot... it sells within days (if not hours) of its listing. Quickness is key.


Hope this explains it better.

Thanks - that makes sense.

Do you think going to this company that is an exclusive buyer's agent makes sense?

(see link in previous post)

I am not sure about that link. Never used them. Not sure what advantages they offer over other agents. They don't give you any commission kickback... so i dont think i would use them.

But i only glanced at the site so I could be wrong.

Thanks - I'm not really concerned about the 'commission kickback.' I'm just looking for someone that would do an honest job for me; and not push me into bad decisions because they have alterior motives (yes yes, they all have alterior motives I know, they're all SALESPEOPLE). So I'll say, LESS alterior motives!

Thanks again.