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When the seller signs a listing agreement with a real estate company, a set percentage of the sale price is paid to the seller's agent upon settlement of the property. The seller's agent is agreeing to market the property and negotiate on behalf of the seller in exchange for a set percentage (or a set fee is some cases), which is called a commission.
The seller's agent enters the property into the Multiple Listing System, which contains an agreement that the seller's agent will share a portion of his/her commission with the buyer's agent. Should the buyers not have an agent, the seller's agent receives the full commission and does not have to split it with anyone. The sellers are basically paying for you to have representation - why not take their offer?
You might think that if you DO NOT use a buyer's agent you could have the seller waive the buyer's agent fee. The truth is that should the buyers not have an agent, the seller's agent has an agreement to receive the total commission, regardles of whether the buyer has an agent or not.
Have you ever seen a sign in front of a property for sale and called for more information? The person you spoke with is the listing agent for the property. The listing agent represents the seller and markets the property. The listing agent looks out for the seller’s best interest. Their job is to bring a qualified buyer and the most profit to the seller. Do not call the agent on the sign for information, call your buyer’s agent!
The asking price of most real estate listings that are for sale reflect present market conditions and recent sale prices of similar homes in the area. The sellers priced their property to get the highest price possible while ensuring the asking price is competitive enough to attract serious offers. While most Realtors advise their clients to realistically price their house in order to attract acceptable offers within a reasonable amount of time, some properties may not be properly priced. This is definitely something you should know about before making an offer.
By having this information, you will be in a position to negotiate for the best buy and best price. As an experienced Realtor, I spend a lot of time and energy making sure I know the market and its constant changes!
Start shopping online! Email LindaWiller@remax.net for property listings in your price range