Thread: Do I need a buyers agent?

Originally Posted by tim2

I have already narrowed it down to what subdivision I want. Do I need a buyer's agent? If so why?

Yes, because an experienced buyers agent will be working for you to get you best home at the best possible price and terms. Sadly, some buyers think that going to the listing agent means they automatically will "save" the buyers agent commission which is a fallacy. The listing agent works for the seller, they may be polite, engaging, helpful etc...but they are still working to get the home sold at the best price and terms for the seller.

Unless we get into a dual agency situation, which without knowing where you are or the laws in your area, is a complicated and complex discussion. Plus it may not be legal in your area. I avoid dual agency, some agents love it, some agents refuse to get into dual agency.

Originally Posted by tim2

Also, should I use the same agent that I am using to sell my house?

Depends on the agent, the laws in your area and/or the policy of the company of the agents involved, etc etc. Some buyers agents ONLY represent buyers and do not list homes, some agents only list homes and will not represent buyers.

Take your time and research the buyers agents in your area, find several to interview and see how much experience they have in that subdivision. Same with a listing agent. You may find some that can do both jobs, some that will only list or represent buyers.

Good luck and best wishes!

My bread and butter is helping sellers sell and get them into a new home. It's not dual agency to have them represent both deal. Dual agency is trying represent both parties in the same transaction. If you like your listing agent, chances are they will do a good job for you on the purchase...it's all about trust. My numbers are pretty consistant in that when I am working for sellers, I tend to be above the list price to sales price ratio, when I am working with buyers, the sale price tends to be below the average. In other words, I think I do an OK job at negotiating. That being said, it's not a guarantee. Underpriced homes, foreclosures with competative bidding throw that all out of whack.

You don't "need" a buyers agent for your purchase but if they did good by you the first time, stay with them. Remember, jsut because you have a contract doesn't mean it's closed. Especially in today's market.

John Woodward
Broker/Owner
Sarasota Real Estate Group