Are you thinking of buying or selling a home? Just like a coin, there are two sides to every real estate transaction. The seller is represented by an agent knows as “listing agent”. The buyer is usually represented buy an agent known as a “buyer’s agent”. In British Columbia, realtors can represent both buyers and sellers.
Experienced realtors usually excel at one or the other. Some realtors decide to have a team of professionals working with them. This allows one or more members of the team to focus on buyers. Having a realtor strictly working with buyers is an advantage. This realtor will be seeing homes available on the market almost every single day. This experience is what’s needed when a client has particular taste in their future home.
If you find a home that is perfect to your taste, should you make an offer with the listing agent? If you do not have a realtor representing you, things work a little different. Usually the seller pays a commission that is split between two realtors. If you are dealing directly with the listing agent there is an additional disclosure required. In British Columbia you must sign a document called an “agency disclosure”. Because the realtor is on both sides of the fence, they are simply an information provider. The offer and counter offer process will be limited strictly to the facts. Questions will be answered but privacy must be respected for both parties. Generally the listing agent tends to have a bias towards the seller as they have the listing contract with the seller.
As a buyer, you do not gain anything by cutting out a realtor as a buyer’s agent. You often time loose a powerful intermediate that negotiates on your behalf. A common misconception is that dealing direct saves money. This isn’t always the case when buying a home. You should always consider using a licensed realtor when purchasing a home.
Shane And Sheleana work together to educate home buyers and sellers in Vancouver. BC is a beautiful place! Find a Realtor who knows how to showcase it.
The Difference Between Listing And Selling Agents
