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Why All Buyers Should Have An Agent
Everyone has probably said it, or heard it, "I'll get a better deal on a home if I don't have an agent." It's understandable why buyers may believe this, but their thought process is flawed.
The total commission fee due has already been established in the seller's listing agreement with their agent.
To assume the the listing agent will, or should, reduce their fee because they "don't have to pay another agent" will lead to frustration and disappointment. Why? Because of several reasons, including:
1. The listing agent doesn't have to agree to lower his/her commission.
2. The seller doesn't have to "pass" the savings on to the buyer.
3. The listing agent already works for the seller, so why would he/she try to get a better deal for a buyer when their fidicuary duty is to the seller?
4. The listing agent's broker may require, or the listing agent may prefer, to refer the buyer to another agent at the brokerage so that each party can have representation. This is known as an "Intermediary", which basically means that the broker stays neutral, and appoints an agent to represent each side. And, what does that mean? It means that the agent that is appointed to represent the buyer gets a commission.
Sherry Hamm obtained her Texas Real Estate License in 1999. Sherry is a devoted full time residential Real Estate Professional focusing primarily on Houston's Westside, Katy, Northwest/Southwest Harri....