If you’re on the hunt to purchase a home, it may have crossed your mind to reach out directly to the listing agent to offer on the property. Simply put, this is not the way to save money when purchasing a property.
You see, real estate agents are all about relationships. We, as realtors, work with buyers and sellers under two different types of agency relationships; Client and customer. If you choose to enter into a client relationship, your agent will represent you as their brokerage throughout the course of your acquisition or disposition of real estate and owes you fiduciary duties that will promote and protect your best interest.
The fiduciary duties owed to clients consist of disclosure, obedience, competence, confidentially, accounting, and loyalty. The problem here is an agent can’t represent the best interests of both sides. The seller wants the most money they can get for their property, and the buyers are going to want to acquire the property for as little as they can. One real estate agent can not ethically represent both sides while fulfilling their fiduciary duties.
Let’s talk loyalty. You have your eye on a property that meets all of your needs and it has inspired you to make the move and start the process of an offer. Lets pretend that at this time you have not yet spoken to a REALTOR®, so you decide to message the agent through Realtor.ca to get more information. The loyalty of the agent is/ should be with their seller client and you may be missing crucial points like defects and its far fetched that the sellers agent is going to be ensuring you as the buyer are protected. That same listing agent is still going to try to get their seller top dollar for the property and you could be missing out on a better price and important facts had you hired your own buyer agent.
The same is true for the remainder of the fiduciary duties. Arguably, its impossible to promote and protect both sides of a transaction as one agent.
So, let me ask you this; Do you want the seller’s agent, whose number one goal is to protect their seller and get them the most money they can for their home, also working for you when buying? Probably not.
Follow Quinte Living on Facebook and Instagram to stay in the loop about real estate, community updates, living in the Quinte and Prince Edward County areas. Click here to get connected. Have a question? Email us at hello@quinteliving.com or call 613-604-5787.
Unique Tools
With over twelve years of marketing experience and access to tools no other real estate team in the Quinte area has, we’re confident in our ability to get your home in front of the right buyers, fast. Our systems and resources put your listing in front of not only more people, but more people who are specifically looking to buy a home like yours.
Expert Marketing
Every home listed for sale with Quinte Living is marketed with high-resolution professional photography, 360° virtual walkthrough tours, video marketing, and more. Properties with professional marketing photos and videos sell approximately 32% faster and for an average of 7% more money than homes listed for sale without.
Wider distribution
Quinte Living listings are syndicated to over 30,000 websites across the country, marketed through social media and search engines, and exposed to our network of over 1,100 members in our private CAF relocation Facebook group for military members and families moving in Canada. We cover print marketing as well as digital to reach a wide and tailored audience.