Buyers Agent or Go it Alone?

Searching for a home in Virginia Beach, Chesapeake, Norfolk, Portsmouth

Buyers Agent – Do You Really Need One???

I just got a call from a buyer who thought I was the listing agent of a home for sale.  I am not.  And, they only wants to deal with the listing agent.

Why?

Because they think they can “knock off 5-10k off the price.”

Random thoughts…

1. If they can get 10k off the price, that amounts to about $70 a month. If it is 5k off, it is about $35 a month.
2. Most homes are listed at 6% (some for more, some for less). Let’s just go with the 6% as an example.  So, 3% to the selling agent and 3% to the listing agent. To that end, if we sell our listing ourselves, we are allowed by our broker to take off 1% to give back to the seller. The SELLER. (And we still have to get permission)
3. Lastly, we don’t like to sell our own listings. It is practically impossible to make both parties happy. How can I get the highest price for my seller and the lowest price for my buyer? It just doesn’t work. In these instances, which are very rare, we hire another agent to represent the buyer and do the negotiations. It comes out of our pockets.

So, is it worth it to go through the listing agent and not have your own representation?

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Got questions?  We would love to talk real estate with you.  If you would like to schedule a buyer or seller meeting with us, please feel free to call Suzi directly at 757-724-1064 or send us a note here.

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