The Phone Number On The Sign
I just recieved a call from a buyer who saw my phone number on the sign in front of one of my listings. I explained to the lady that I was the listing agent and represented the seller.
I could have shown this buyer my listing and tried to get her to write an offer. That would be legal as long as it was disclosed to both buyer and seller. In the state of Missouri, this is called dual agency.
But who does the dual agency really benifit? Is the dual agent repesenting the seller or the buyer? Believe it or not, a dual agent represents both the buyer and the seller. If a listing agent finds the buyer and writes the contract, in my opinion it is the agent who wins. The agent
gets paid double!!!
So, you are out driving the neighborhood you'd like to move to and you see a home for sale and you call the number on the sign. Chances are the person that answers the phone is the listing agent. This is the agent working for the seller. This agent is acting on behalf of the seller. Their job is to negotiate a sales price and terms that benefit the seller.
If you are the buyer, calling from the for sale sign, that agent you just called is working against you!
If the listing agent also represents the buyer in the transaction, the agent gets paid double!!
In the state of Missouri, buyers are entitled to be represented by an agent working on their behalf. Buyer's agents do not charge the buyer for their services. They are paid by the seller.
So how do you find an agent who will represent your interests as a buyer? The best way would be to ask a friend or relative who they have used before. If you can't find someone to refer you to an agent they were happy with, interview at least 3 agents.
Want to know more about how to buy a house and have your interests protected? Click the "Contact Me" link on the left and send me your questions. Or just call (636) 795-4956
There is no obligation or charge, I'm here to help!
