"You're Always Home with TEAM HORNE"

Do I really need a Buyer’s Agent?

This is a question we hear all the time, especially from first time home buyers!  People will go to Open Houses without representation, find a house they like, and often think, “Well, I’ll just work with the seller’s agent- it will be easy, and I won’t have to pay for my own agent.” Whether you decide to work with a member of Team Horne, or another agency entirely, we implore you not to do this! Why?  Well, for starters, there is a misconception about the the cost of working with a Buyer’s Agent.  In all but exceptional cases, there is no cost to the buyer to work with a Buyer’s Agent. There are, however, very real (financial) costs of not having your own representation.  In Massachusetts, the Seller’s Agent owes all fiduciary responsibilities to the seller, not the buyer. This means they are negotiating with the seller’s best interests in mind, not yours!  When you choose, as a buyer, to utilize the Listing Agent/ Seller’s Agent as your own agent, you are embarking on something we call Dual Agency.  This gets tricky, as “a dual agent cannot satisfy fully the duties of loyalty, full disclosure, and obedience of lawful instructions which is required of an exclusive seller or buyer agent.” When you are deciding to make the largest monetary transaction of your life, shouldn’t you have the best representation possible? The best way to ensure this is to work with a Buyer’s Agent, but not just any Buyer’s Agent.  There are many “interview” questions you can implore when searching for an agent to represent you, but ultimately it boils down to finding an agent who is ethical, communicates in a timely fashion with you, has knowledge of the market you are searching in, and understands what you are looking for- ultimately putting your needs ahead of his or her own!

Updated: September 8, 2014 — 4:58 pm

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