Buyer’s Agents vs. Listing Agents

Home buyers often make the mistake of thinking that they will save money by working with the listing agent directly or skipping an agent altogether.

Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Price Evaluation 
Call me at (518) 861-7016 for a FREE home buying or selling consultation

Today I wanted to talk about some misconceptions people have about buyer’s agents and listing agents.

The main thing people don’t understand about buyer’s agents is that you don’t have to pay them a commission. Buyers' agent's are paid a 2.5% commission by the seller. Buyers also don’t realize that as a licensed real estate broker, our buyer’s agents can show any home listed on the market. Even if the property is listed as For Sale By Owner or is listed by a different real estate agent, our buyer’s agent can still show you the property.

Buyers often make the mistake of thinking that they will save money by working with the listing agent directly. Listing agents represent the seller; the last thing you want to do as a buyer is go to the seller’s agent to represent you. The seller’s agent is generally going to charge the same commission as the buyer’s agent. Not only will working with the seller’s agent not save you money, you also won’t have anyone working for you whose fiduciary responsibility is to represent your best interests.

Another thing to keep in mind is that buyer’s agents are generally not good listing agents and listing agents are generally not good buyer’s agents. On my team, we specialize; you are either a buyer’s agent or a listing agent. For the most part, I work with sellers. I will occasionally work with a buyer if one is referred to me, but my goal is to list homes and market them. A buyer’s agent’s goal is to get you the perfect home at the cheapest price as quickly as possible.

Why do you want to work with a buyer’s agent? You want someone with great negotiating skills. I recently worked with a buyer who was trying to purchase an estate. The owner had $1.8 million in the property and the appraisal came back at $1.3 million. It took a long time to negotiate, but I was able to get that property for our buyer for about $600,000—a fraction of the appraised value. Not only did they get a great deal, but they should also net a lot of money down the road when the time comes to sell.

The bottom line that you need to remember is that generally, a listing agent is not a good buyer’s agent and vice versa. If you are buying a home, you need an agent who specializes in working with buyers. If you are selling a home, you need an agent who specializes in selling homes. That is what our team does.

“

A listing agent does not make a good buyer’s agent and vice versa.

”

If you have any questions about purchasing a home in today’s market or about real estate in general, give me a call or send me an email. My team and I would be happy to help you!