Darin Germyn - Real Estate Professional

I recently ran into a potential client that had walked into an open house over the weekend and written an offer with the Realtor who had the property listed for sale. The buyer who wrote the offer and myself had sat down a week prior to discuss why you want a Realtor working to represent you when writing an offer and the benefits it provides; Unfortunately for her she went ahead anyways and it will cost her money in the end.

Here is a few great reasons why you want to have a great Realtor like myself represent you when purchasing a property and not work with the listing Realtor.

1.   Firstly, lets dispel the myth that you save money by working with a listing realtor on their commission. The commission is agreed upon by the Seller and the listing Realtor way before you come in the door. If you think not bringing in a Realtor to help you buy saves you and the Seller on fees, you're incorrect. The Buyer Agent fee is paid for by the Seller and 99.9% of the time buying is a free service to a Buyer. The fee for service that would have gone to your Buying Agent, now goes over to the Selling Agent. The Selling Agent just doubled their pay check, no savings to seller or buyer. They did do twice the work, it is fair for the agent, however, there are zero savings here to either Buyer or Seller.

2.   A Realtor that buys for you has a duty to get you the best price and terms of contract, whereas a selling agent works for the Seller, and has a duty to get you to pay the highest price and get their seller the best terms of contract. Always be careful what you say to a Selling Agent, they are always listening for little clues in the words you speak that could cost you money in the negotiating process.

3.   A listing Realtor many times will take the price of their Seller and what they want for their home regardless of fair value and not list it for what the market says the home is worth. I have seen people pay up to $40,000 more than a property is worth based on not getting the proper homework done. A great Realtor like myself is versed in certain neighbourhoods and identifying price to make sure none of my Buyers ever over pay for a property. It is pretty scary to think of losing thousands of dollars because you are misinformed and trying to pinch a few pennies.

I hope that helps some of you and saves you some serious money when it comes time for you to purchase a home. All the best until next time,

Darin Germyn

www.daringermyn.com