Can you save the commission?

Written By: Miller and Associates Realty On: 18th December 2013 Under: Commercial Real Estate, General, Panama City Condos, Panama City Subdivisions, Real Estate Market, Uncategorized

When driving around and seeing a sign in a yard, many buyers may be tempted to call the listing agent thinking that there will be one less agent and therefore less commission to be paid and they can get a better deal.  In reality it doesn’t work that way.  The seller of the home signs an agreement with the listing agent to sell the house for a percentage of the sales price.  That percentage is fixed and either gets divided between 2 agents or it will all go to the listing agent.

If you call the sellers agent they will work both the buyer’s and seller’s side and get the full commission so not only did the buyer not save money on the commission but they may not have gotten the best representation they could have.  When buyers work with a good agent they will receive advise on if the property is overpriced, what repairs they should ask for, let you know the trends in the market, recommend professionals they have worked with such as lenders and title companies that can get things done, advise how much earnest money to offer and basically work a deal that will be fair and provide the best value.

Buyer’s agents:

–          Educate buyers on trends in the market place.

–          Evaluate the buyer’s wants and needs.

–          Show properties that match wants and needs.

–          Recommend trusted professionals.

–          Negotiate on buyer’s behalf.

–          Review and explain paperwork.

–          Work to resolve any problems that may arise.

Buyers that use their own agent should feel confident they are being educated about the process, informed about the market place and are being well represented in their purchase.

Written by: Allen Place

Contact one of our agents if you have questions.