When you look at the home buying and selling process, you need to remember that there are two sides, one seen from the buyer’s point of view and the other from the seller’s point of view. In most cases, there would be separate real estate agents representing each party. For the seller, the agent is known as the “listing agent” whereas for the buyer, the agent is known as the “buyer’s agent”. Although an agent can handle both the sell and purchase of a home, most often you see two people, one for each side.
Just as when hiring any professional such as a doctor or lawyer, you also want to take great care in choosing the best agent, whether selling or buying. The goal is to ask questions about the person’s education, training, years of experience, type of experience, and so on. If you are the buyer, making a home purchase is a big investment, something that should be handled by a professional.
Now, if you were shopping around for a new home but did not have a real estate agent helping you, you might be able to use the listing agent but we suggest you contact a preferred real estate company, asking for an agent who can represent you. The reason is that the listing agent is going to have the seller’s best interest in mind, not the buyer. That means you could be borrowing trouble.
If you were to make an offer with a listing agent, the agent is required to let you know of the relationship with the seller. Sometimes, the seller is not comfortable with his or her agent also representing the buyer. Therefore, it is generally a better idea to have your own agent, one that will be working to ensure you buy a good home at a fair price. However, a dual agent must be ethical, as he or she facilitates the transaction for both parties.
In this case, the dual agent would be able to work between both seller and buyer on offers and counter offers but would not be able to provide opinions or guidance to either party in relationship to negotiation. On the other hand, if you were working with your own agent and the seller with his or her agent, then you would be able to get some pointers.
Remember, you want to work with a reputable and qualified agent, whether a listing or buyer’s agent. If you have family members or friends who have recently purchased or sold a home and they were happy with the services provided, you might talk to that agent. If not, contact a reputable company in your area, asking for someone who can represent you in the buying or selling process.