The Macomb County Michigan Real Estate Blog

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Buyer Myths; You get a better deal if you deal direct with the listing agent.

Buyer Myths; You get a better deal if you deal direct with the listing agent.

Buer Myth

Twice this week, I received a call from a potential buyer viewing my website asking if I was the listing agent of the property they were inquiring about. I responded no. I explained how I share listings on my site via IDX.

The potential buyer was adamant in dealing directly with the listing agent. I asked why? His opinion as summarized went like this: "You cut out the middle man", "The listing agent knows exactly what the seller will take"; "The listing agent will work harder to make the sale happen because he wants the deal to come together";" The listing agent will work more because he will get more commission."

I tried to explain the importance of having a buyer's agent, but he wasn't listening. He wasn't interested in learning that in Michigan ALL agents by default work for the seller unless represented by a buyers agent. He was defensive and insisted on obtaining the listing agents phone number, which I obliged

Is it just me, or is this the new norm being perpetuated by buyers?

5 comments • David Elya ABR, e-PRO, GRI, SFR - Broker Owner • February 17 2007 09:26AM

Comments

this is great for the listing agent

Posted by Rich Kruse (Gryphon USA, Ltd.) over 3 years ago
I've heard all these stories before...but then the buyers usually realize that any "discounts" would then be applied to the commission the seller is paying, and not necessarily off of the price the buyer pays...
Posted by Don Fabrizio-Garcia - Connecticut Real Estate (Nationwide Realty) over 3 years ago

And if any problems arise the buyer finds out there is no one on his side, the agent has a legal obligation to the seller.

Unless of course there is a disclosed dual agency which means the buyer still has no one on his side.

buyers:Get your own agent, you'll be happier and safer in the long run

Posted by Terry Lynch (LAR Notary and Closing Services) over 3 years ago
We are seeing an increase in unrepresented buyers. The internet is making it very easy for people to shop for homes but they still need the help of a buyers agent.
Posted by James Gordon REALTOR® PBD SFR SRS (Sibcy Cline Realtors®) over 3 years ago
I always find it interesting when I met a buyer who only wants to work with the listing agent, thinking they will get a better deal.  I usually ask them if they think the listing agent will prepare a market analysis on the property to justify the price? And what makes them think the listing agent would want the buyer to pay the lowest price? And what makes the buyer think the listing agent would act in the buyer's best interest when the listing agent has a long term relationship with the seller and doesn't know them from Adam?  If a problem arose, whose side do they think the listing agent would be on? The looks on their faces as the little light bulb goes off!
Posted by Guilford Connecticut Real Estate Agent, Sandra Cummings (William Raveis Real Estate) over 3 years ago

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