Why a buyer should use a Realtor as a buyer’s agent?
I always… I mean always get calls from buyers that say “are you the listing broker on 123 Main St in anytown USA? If I am not the listing broker of course my answer is “no I am not but I can represent you as the buyer broker on 123 Main St anytown USA”. I am just amazed at how many people reply ” I just want to chat with the listing broker, we do not need representation”. The reason that is shocking is because they are either going to use the listing broker to help them on their side of the deal (I will discuss that challenge in just a minute) or they are bypassing their broker agent to go straight to listing broker for information (that is another challenge right there)
For starters when you use a buyer broker (agent) in almost any real estate transaction (99.9% of the time in residential transactions) the seller pays for both broker fees. Let me say that again because it is very important. I have never been in a real estate transaction where the buyer pays for any part of the commission to any broker. I need to put .01% in because it might happen once in a strange sort of deal. Your normal real estate transaction the seller pays for real estate fees.
The other people think is that they can negotiate a lower price if they don’t use an agent for the buy side. Well that is usually not the case either because in the listing contract in Colorado there is a section that states total commission due. So if you don’t use an agent the seller still owes the listing brokerage firm the same commission as if there were 2 agents in the transaction. So basically what you just did was assure the listing broker just made two commissions for the same amount of work.
In the state of Colorado there is no such thing as dual agency. So if the same broker represents the buyer and the seller in the same transaction the broker is not allowed to advise both parties. What the broker has to do is to present raw data to both parties and not say what his opinion is on anything. For example he can give you comparables of sold properties but he can’t say what his opinion of the price is. He does not advocate for either party in the transaction. Even though he may have advocated for the buyer or seller just the day before and told his seller his opinion of what the home was worth. All the transaction broker can do is make sure the transactionn goes smoothly.
So back to my original comment, it confuses me when buyers don’t want their own representation in a transaction. If you get less advice and son’t necessarily save money why would you not want an advocate on your side? Why would you not want person to negotiate the best possible price on your behalf?
Evergreen, Conifer and Morrison Luxury Homes Sold This is a very interesting graph. This is Evergreen, Conifer and Morrison luxury homes (over $1,000,000) sold in the last 10 years. The average luxury home sale price is in green and the number of listings is in blue. The reason this chart is interesting is because while the rest
Should My Listing Agent Have an Open House There is a little secret your listing agent won’t tell you about open houses. They really are not a great way to sell your home. Open homes have been, for the longest time, something that a listing broker, even luxury brokers, uses for two things. First it
There are a lot of real estate companies out there that claim to be “the best listing agents” around. Some of the real estate agents don’t even have websites or an online presents to properly market your listing. NAR (National Association of Realtors) has determined that over 90% of home buyers will find your home
Finding the best real estate companies in Evergreen or the Denver Foothills can be hard. Buyers and sellers ask their friends “do you know of a good real estate company?” and every friend gives them a different name. There are national and international real estate companies and there are small local and regional real estate
In the state of Colorado all real estate agents have a real estate broker designation of some kind. Colorado doesn’t classify real estate agents as agents although they have the ability to enter an agency relationship. All agents or brokers in Colorado are either associate level brokers or managing/employing/responsible broker.The associate level brokers answer to
It is sometimes hard for buyers and sellers to contain their excitement when it comes to buying or selling a home. Sometimes they feel they are doing the broker or agent a favor by not bothering them and contacting a broker or buyer or seller directly. Believe it or not you are not doing your