Monday, November 11, 2013

Home Buyer Tips: Choosing the wrong real estate agent can be costly...

Home Buyer Tips:  Choosing the wrong real estate agent can be costly.  This is not intended as a shot at any real estate agent in Brevard County, Florida.  There are hundreds of superb Realtors® in Brevard County, Florida. 

Image courtesy of ddpavumba at
Still, choosing the wrong real estate agent can be costly.

What situation is that?  Using the seller's real estate agent.

I spoke with someone recently who said they always call the listing agent.  When I asked why they did not use their own agent they were very honest with me.

They said "because the seller's agent knows what is wrong with the house and how much the seller will take if they want to make an offer."

Without going into detail I related two things regarding this statement.

  • First, the sellers (and their agent) must disclose anything they know that materially affects the value of the house.  Further, they should have an inspection done before any purchase to identify issues.
  • Secondly, the seller's real estate agent owes their customer complete loyalty and that includes not disclosing anything that works against their client.  Don't look for some "they will take it low price" or a reduction in price because the seller's agent is handling the sale.

More importantly, the seller pays for the buyer's real estate, so why not get your own real estate agent?    Let your real estate agent do the research based on your requirements.  Have your real estate agent set up your showings.  Have your real estate agent work with you throughout the entire process.

In Florida there is no "dual agency" in Florida.  The listing agent represents the seller, first and foremost. 

There is one other situation where a buyer may not realize they are working with the seller's agent is new construction.    If you are considering a new home purchase, consider having a real estate agent represent you. The folks greeting you in that new model home work for the seller.

Similarly, if the home you are considering is located in a community with an on-site "community" real estate office (such as Indian River Colony Club in Viera), take your real estate agent with you on your first visit.

Are you considering buying or selling a Viera, Florida home?  Call me at 321-693-3850 to find out how I can work for you.