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Home » 4 Truths About Real Estate Agents

4 Truths About Real Estate Agents

November 16, 2018 by admin Leave a Comment

We want our clients, whether it’s a buyer or a seller, to be well informed about the home buying and selling process and that sometimes means being honest about real estate agents. Not all agents are ethical, shocker! But by weeding out to those that might have unethical practices, we can help you be more informed and better able to make a wise decision when it comes to selling and buying and who to represent you.

4 Truths About Real Estate Agents

With that in mind, here are four things you should probably know about real estate agents before buying or selling.

Real estate agents can work both sides of the transaction.

This means that the same real estate agent can assess the buyer and the seller in the same transaction. Typically, the buyers have their own representation and the sellers have their own listing representation but dual agency is allowed in most states and this is where the same real estate agent can represent both the buyer and the seller. You can probably already start to see the discrepancies and conflicts of interest that this can create. If an agent is representing a buyer and a seller, how can they hold up to their fiduciary duty and be honest both sides? Confidentiality can be skewed when it comes to representing both sides. If a buyer is trying to negotiate for a lower price but the seller knows that the buyer can afford more, chances are that buyer is getting the short end of the stick. Similarly, if the seller can come way down on the price and the buyer knows it, they’re going to keep negotiating for that lower price. You can see how this can be a huge conflict. It’s best to have your own agent representing you, regardless of which side you are on.

Commission is negotiable.

Most listing agents will tell you a flat 6% commission but it is negotiable. However, that 6% is split in half between the buyer’s agent and the seller’s agent. For higher-priced homes, there is a pricing strategy that can be used but when negotiating, just remember that you can always negotiate for a lower or a different type of split to be more attractive to buyers agents, drawing in more buyers.

Open houses may not work.

Sellers expect open houses but they usually don’t necessarily sell the house. Statistics show us that only 7% of buyers find their home at an open house. Often times, agents will sit open houses simply to gain more buyers, rather than to actually sell the house. When it comes to an open house, it’s truly up to the homeowner whether they choose to have an open house or not. There’s always the security aspect so think carefully before deciding on an open house.

Read More: Is it okay to find a Realtor® at an open house?

You are free to choose your own service provider.

Because we work with both buyers and sellers (because we have listing agents) we have a plethora of resources such as home inspectors, real estate attorneys, escrow and title companies, but you have the ultimate choice on who to use. One little piece of advice when it comes to service providers, experienced, long-term agents have usually built up a better book of referrals and resources the new agents. Because we have sold real estate for decades, we have found excellent service providers that are reputable, honorable, and affordable.

Great Questions to Ask Your Realtor®

The point is to choose your real estate agent carefully. We have listing agents and we are buyers agents so even though we are on the same team are loyalty lies to one side or the other during a transaction. Feel free to interview us, ask questions, and contact us when you’re ready to buy or sell throughout Brunswick County in both North and South Carolina.

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Filed Under: Buyers, Sellers Tagged With: agents, buyers agent, dual agents, listing agent, real estate agents, realtors, sellers agent

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What our clients say

Ken and Linda Foltz

“Life will lead you to where you belong. Five years ago life led me to meeting Karen Baker at an...
Sunset Beach and Beyond Realty
2015-03-16T20:16:32+00:00
“Life will lead you to where you belong. Five years ago life led me to meeting Karen Baker at an Open House. Our relationship continues as Karen and her husband Frank have been outstanding not only in helping my husband and I find the right retirement relocation home, but we have watched their commitment in helping many others find their homes. She and Frank treat every client as if they are the only ones that exist. They provide thorough research of areas and homes of interest and present you with the options. They are not your typical hard sell, must-buy-now realtors. They are here to help you find your next home?. You won’t go wrong with the Bakers!
https://sunsetbeachandbeyond.com/testimonials/ken-and-linda-foltz/

Steve & Jean DeVito

“The Bakers treated us like family during our whirlwind weekend of looking at houses. Prior to our on-site visit to...
Sunset Beach and Beyond Realty
2015-03-16T20:17:46+00:00
“The Bakers treated us like family during our whirlwind weekend of looking at houses. Prior to our on-site visit to Sunset Beach they created a portal and populated it with properties that met our ever-evolving criteria. By time we arrived we had a good feel for what we could afford and what was available that met our criteria. The Bakers, especially Karen, were able to make sense of what we thought we were looking for and eventually matched us with a house that we ended up purchasing — Karen called it the “This is it” house and she was right. We are loving our 2nd home and appreciate how painless Karen and Frank made the process. All the paperwork was done seamlessly and quickly and the closing went off without a hitch. The Bakers do not believe in the hard sell — they gave us the knowledge we needed and the guidance we needed to make our dream a reality.”
https://sunsetbeachandbeyond.com/testimonials/steve-jean-devito/

Matt & Amy Carver

Amy and I have bought and sold four properties in the past twelve years. Both of you are the best...
Sunset Beach and Beyond Realty
2015-03-16T20:18:22+00:00
Amy and I have bought and sold four properties in the past twelve years. Both of you are the best realtors we have ever dealt with. Amy and I both felt we could trust you to look out for our interest. The level of service you provided was outstanding, from taking the trash out, helping the buyer with inspecting the irrigation system, dealing with our tenants, always being there if we needed to ask a question, providing constant updates on the market and always keeping us informed on the sale of our house. I think your next venture should be training other realtors, because both of you have mastered the art of providing excellent service. I will be sure to recommend the Frank and Karen team to anybody looking for a trust worthy, knowledgeable and top performing realtor. It was a pleasure working with both of you.”
https://sunsetbeachandbeyond.com/testimonials/matt-amy-carver/

Ernie & Carol G.

“Karen & Frank Baker are the best. They are very knowledgeable with the area & showed us many homes. When...
Sunset Beach and Beyond Realty
2015-03-16T20:18:50+00:00
“Karen & Frank Baker are the best. They are very knowledgeable with the area & showed us many homes. When we made up our minds which one we wanted, they got us the best deal on it. We were very satisfided with them. After the purchased was made & we moved in, they were still there to answer any questions or problems that we might of had. Like I said, they are the BEST.”
https://sunsetbeachandbeyond.com/testimonials/ernie-carol-g/

Dave & Rose

“Thanks again for all the time you spent with us, As overwhelming as it was, you two made it fun”
Sunset Beach and Beyond Realty
2015-03-16T20:19:23+00:00
“Thanks again for all the time you spent with us, As overwhelming as it was, you two made it fun”
https://sunsetbeachandbeyond.com/testimonials/dave-rose/
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