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At the outset of any search for a home, many buyers still think it’s
helpful to contact the listing agent for information on a property of
interest. The benefits being that the listing agent ideally knows more
about the property than any other agent. The listing agent, however,
has a fiduciary relationship with the SELLER–meaning the agent
works solely for the interest of the seller, not for you as the buyer.
The listing agent, because of this relationship, cannot provide you
with an accurate snapshot of the market, cannot tell you whether or
not she thinks the home you are looking at might be overpriced, that
similar houses in the area may have sold for significantly less money,
and that, for example, resale value in this area might be affected by a
race track one mile away or the town plans to develop the 40 acre
parcel right behind the property into a public pool. The listing agent has an obligation to report any information you give them about yourself to the seller, their client.
It is much more beneficial, as a buyer, to have someone representing
you in the process–from establishing your wants and needs and what
your dream home should look like to evaluating the market and
negotiating the best price for you, their client.
Buying a home is one of the largest purchases most people make in a lifetime, one that affects your daily life. Even if you have experience in home buying and selling, each transaction is unique and complex with different challenges to get through the process to the end. An experienced Buyer’s Agent who has navigated through many of these transactions can often see pitfalls before they happen and will help guide you through and around them.