Tuesday, February 5, 2008
Listing Agent vs. Buyer's Agent
Now that Pandora's Box has been opened we might as well explore it.
Listing Agent - represents seller's best interests, pricing the property correctly for quick sale while negotiating the highest sales price for the seller.
Buyer's Agent - represents buyer's best interests, finding the right home for the buyer and helping them negotiate the lowest price for the home.
After reading these descriptions, which agent do you think the seller should ask to reduce their commission? Since the buyer is working against the seller's best interests you would think the seller would be more likely to reduce their commission but yet this is not the case. (This is why I love bringing buyers to FSBO's. They have no idea we are taking them to the cleaners. I am representing my buyers yet the sellers are so happy I brought a buyer they start yakking and spill all the beans and they pay me just as any other seller would but without the professional representation. I win, my client wins, seller loses but has no idea.) But I digress.
So who works harder in your opinion? If one or the other doesn't deserve a full commission how much are they worth? Bring it. I can handle it.