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Should you Trust the Listing Agent?

Should you Trust the Listing Agent?

It is common and rather obvious knowledge that the listing agent works for the seller and he/she is not entirely on your team. Why? Because while you may be looking to get your dream house at the lowest price, the seller will always be looking to make a killing from selling his/her house and listing agent is hired for this sole purpose to ensure the seller gets a good deal out of the house. 

There are buyers who will prefer working with the listing agent because this way they do not have to hire and pay their own real estate agents. While this may make sense on some level, it could also work against you because you will not have your own representative to speak up in your favor during negotiations.

Besides this, the listing agent signed a contract with the seller and not with you. Meaning, he/she is bound to the seller and not to you and so any information you share with him might very well be used to your disadvantage during the selling/buying process. 

Keep in mind that the listing agent gets a commission based on the price at which the house gets sold, if the price is low, then his commission will also be low. If the price is high, he will get a good commission, so can you really trust them to have your best interests at heart?

Well, one argument actually states that the listing agent just might be your best partner. How? Well, starting from the basics, the longer a house is in the market – as long as the time frame is within reason – then that property will appreciate and its price increases. Though this may be good news for the seller, it might not be so exciting for the listing agent because his commission will not increase by much.

Keeping the property on the market for longer will only prevent him from selling other properties, which will earn him a higher commission. If you use this to your advantage, you could strike a favorable deal with the agent and they will convince the seller that your offer is the best they will find. This approach will require a good strategy though, making sure you strike a good deal rather than anger the agent. 

Working through a listing agent may end up being too tiring and too demanding for you, which is why it is advisable you just get your own agent. It might cost you a tad more, but it will also ensure you spend less time on house hunting and related negotiations; and get a good deal at the same time.

One of the key benefit of getting your own agent is that it saves you a lot of time and energy. This agent will stand in for you during negotiations and being two agents, they are more likely to come at an agreement much faster. Rather than being frugal, just go on ahead and get yourself your own real estate agent. It will be worth it in the end.

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