Is Calling the Listing Agent to Show the House a Good Idea?

February 12, 2010 at 12:07 pm Leave a comment

I had a call from a buyer who would like to see a house that I have listed. After determining that the buyer was qualified for this house and was told that he did not have a Realtor, I arrange to meet him at the property. The buyer went around the house, we talked and then I found out he had a Realtor after all and he had made a previous offer with this Realtor on another home of which it failed to close.

Many buyers are not aware that calling a listing agent to show the house is not the best thing to do when shopping for houses. Why?

1. The listing agent is most likely NOT going to represent your interest. He/She made a contract with the seller to represent the seller’s interest. You need a buyer’s representation. Although, it is still possible to close on a home with just one agent. The agent becomes a DUAL AGENT. At this point, the agent represents both seller and buyer with their consent. The agent cease to be an advisor to any one party but acts as a messenger to communicate responses between parties. The agent takes on a higher liability in case any one party is not satisfied with the transaction.

When looking for a home, it is best to choose a Realtor first, before looking at houses. A good Realtor will educate their clients on the rules of real estate so clients avoid getting into sitcky situations and Realtors get compensated for their hard work. You only need ONE Realtor to represent you!

2. The listing agent should be fairly compensated as well for the time he/she spent with the buyer who is already represented. This issue usually is clarified between the listing agent and the buyer’s agent.

Rule of thumb – when you find a house you like to see, call your Realtor, If you don’t have one, you may call the listing agent with the knowledge that if you like the house, the listing agent may become a DUAL AGENT.

Entry filed under: Arizona Real Estate, Chandler Real Estate, Foreclosures & Short Sales, Phoenix Real Estate, Real Estate Deals. Tags: , , , , .

A SHORT SALE SAGA SHORT SALE SHENANIGANS

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