What’s the difference between Buyer Agent and Listing Agent? Who represent who in real estate transaction?
Whether you are Buying a Home or Selling a Home in Phoenix AZ area, it is recommend to hire a Real Estate Agent. But who is represent who in real estate transaction?
Buyer Agent
Buyer’s Agent also known as Selling Agent represents Buyer when they purchase a home in Phoenix AZ. Buyer agents work to negotiate the best possible price and terms for the buyer client. Buyer’s Agent also responsible to protect their client’s financial information, connect buyer with the service provider such as inspectors, lenders, home warranty companies.
Most people (buyer) think they have to pay a sales commission, the truth is buyer’s agent is paid by seller once deal is closed. Whether a buyer uses an agent or not to represent them, the seller still pays the commission. The only person that wins when buyers are not represented is the listing agent, where the listing agent will keep all the commission from the seller.
Listing Agent
Listing agent represents Home Owner (Seller). That means the listing agent has a legal obligation to work on the seller’s behalf—to get the highest possible price and the best terms available for the seller, not the buyer. The listing agent also legally is obligated to share any information they learn about the buyer with the seller. If a potential buyer walks into an open house and strikes up a conversation with a personable listing agent, any information divulged there can be used against the buyer during eventual negotiations. The listing agent negotiates with the selling agent to come to a price agreed upon by both the buyers and the sellers, then works with escrow handling the closing to make sure the deal closes on time.
So, if you decided to buy a New Homes, who does Builder Home Sales Associate in builder model house represent?
Builder Home Sales Associate
Builder Home Sales Associate work for the builder and represent Home Builder. You need to hire a Buyer Agent to represent you. So if you would like an experienced Buyer Agent to represent you should you decide to purchase I will need to go with you on your first visit to the model house.
Dual Agency
Dual agency occurs when the real estate agent represent both seller and buyer in the same transaction. Because the agent is representing both parties, the agent cannot give their undivided loyalty to either principal in the transaction. For example, a dual agent cannot negotiate the highest, best price for seller and the lowest and most competitive price for buyer.
Swee Ng, Realtor and Phoenix East Valley resident specializing in win-win real estate transaction through great communication and fighting for his clients’ best interest. After all, this is more than real estates, this is about your life and your dreams.
If you are looking to buy or sell your home in Phoenix AZ area, we hope you will consider us. Contact us today for complimentary consultation.
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