Charleston, SC Posts

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Myth # 2: The agent on the For Sale sign will look out for my interests

This is a continuation of a series: 10 Common Myths Shared by Homebuyers. See Myth #1 here.

Many buyers start their search by looking online and occasionally getting in the car driving around to check out neighborhoods.  Due to SC agency and representation laws, the listing agent is charged with protecting the interests of the seller. When you call the listing agent, they are obligated to tell the seller ANYTHING you say.  You have the right to be treated with the same protection but it does require you to hire a Buyer's Agent. To find out how to hire a Buyer's Agent and why you need one, check out my previous post: What services are you entitled to when you hire a Buyer's Agent.

When looking for a buyer's agent, you should be looking for full time agent that can devote time to diligently searing for your prospective home.  They should have demonstrated experience, negotiating skills, and intimate knowledge of the market you are seeking to purchase a home in. Preview my previous post about the Top 10 questions you should ask before hiring your next agent.  Many of these questions apply to buyers agents as well!  The strongest position in a negotiation is to have a mediator, a buyer's agent!  An experienced agent will know what to say and not to say and will keep the necessary information confidential while helping you get the best price and terms on the house you want.

When working with the Charleston Relocation Experts Team, Buyer representation is a FREE service! Call or email Michele Reneau when you ready to have an agent looking out for YOU!

Stay tuned for more myths to come...

*The series is adapted from the REBAC article published October 2008, 10 Common Myths Shared by First-Time Homebuyers in Today's Buyer's Rep.

 

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Michele Reneau - Military Relocation Specialist with Carolina One Real Estate in Charleston, SC.

Contact Michele Reneau, Realtor®, North Charleston, SC Relocation Expert, CRS, GRI, ABR. Licensed Realtor® in South Carolina at 843-572-0518 to list your property for sale or to purchase real estate in Charleston, Goose Creek, Summerville, North Charleston, Hanahan, Mount Pleasant and the surrounding areas in Charleston County, Berkeley County or Dorchester County, South Carolina. The Charleston Relocation Expert specializes in military relocation, first time homebuyers and creating marketing exposure to sell your home in the Charleston SC Real Estate market.  I can also be contacted by email at mreneau@carolinaone.com. To view all Charleston Metro area Homes for Sale Click Here and then click on Search for Homes.  With over 25 years of Lowcountry Living, I know the Charleston Metro area.

Michele Reneau, ABR, GRI, CRS

www.CharlestonRelocationExperts.com

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Comment balloon 13 commentsMichele Reneau • November 01 2008 01:09PM

Comments

Michele,

Not to mention when an agent is double ending the deal they seem to protect their interestes as they have just hit the lotto.

Take care!

RJH

Posted by Robert Huntsinger, Empire Realty Upland, CA - Full Service at a Discount (Empire Realty) about 10 years ago

This is good advice. Buyers need to protect themselves. In a real estate transaction, there are many pitfalls, things that many buyers would never even think of. Notwithstanding, and as you clearly stated, hiring a truly qualified buyer's broker is essential.

Posted by Steve Graham (Inactive) about 10 years ago

Great Post!  However I think it all depends on the agent.  It is always great to have buyer's representation no matter what.

Posted by Carol Swain, Realtor, -www.swainsells.com- Bucks County, Pa (Keller Williams Real Estate) about 10 years ago

The agent on the for sale sign will look out your best interest IF the sign is in your front yard!

Posted by Rich Mielke, REALTOR, Frederick Maryland Real Estate (REMAX Results, Frederick MD) about 10 years ago

Hope this message gets to the consumers. Bonnie

Posted by Veronica DeCarolis (Weidel Realtors) about 10 years ago

It really does pay to work with a buyer's agent. They have your best interest and assist you every step of the way. They can help educate you about the market and homes in the area to help come up with competitive offers. There are so many benefits to working with a buyers agent. And to top it all off- it's free to buyers!! What more could you ask for?!

The thing I also like to share with customers and would-be customers is the fact that I am a Realtor. Realtors subscribe to very high standards, like the list of duties and promises you provided. Designations not only look good after your name, but they tell customers that you have the knowledge and experience to help them with their particular needs. Show off what you got! :)

Kind Regards, Nicole Weidauer

The Egerer & Weidauer Team, Keller Williams Realty North Seattle

Posted by Nicole Weidauer (Keller Williams Greater Seattle) about 10 years ago

RJH-It's hard to walk the line as a dual agent.

Steve-Many buyers don't understand that it is a FREE service.

Carol-You are right, not all agents are like! See Myth #1.

Rich-Yes, you are right about that, but that doesn't help the buyer :)

Bonnie-I hope so too!

Nicole-Great point! There is a difference between a Realtor and a real estate agent.

Posted by Michele Reneau, Realtor, GRI ~ Charleston, SC Relocation Experts Team (Certified Staging Professional (CSP) Elite Instructor) about 10 years ago

Michele,

I am amazed the number of times I here a Buyer shocked that I do not ask for them to pay me anything.....it must be that Agents are getting more Buyer's to sign an agreement to pay upfront and at settlement.

I do not ask for anything but the co-op offered by the Listing side.

Posted by Daniel J. Brudnok, REALTOR, SRES, e-PRO,ABR,GREEN,CSP (Berkshire Hathaway Home Services Fox & Roach, REALTORS - Exton - PA License #RS-225179-L / Delaware License #RS-0025038) about 10 years ago

I run into so many buyers that think they will somehow save money by going to the Listing Agent. I always make sure to imply in as strongly as possible when discussing agency who I work for, and what the difference between client and customer is. 

It is these same unrepresented people that will blame the agent instead of themselves, since it is human nature to blame everyone but yourself for the mistakes you make in life. Rich Mielke says it best, the agent on the sign will look out for your interest IF the sign is in your yard!

 

Posted by Mark Brian, Anderson SC Realtor (Silver Star Real Estate LLC) about 10 years ago

Dan-I'm shocked too! That's why it is one of the first things I always mention.

Mark-Lots of buyers feel this way and I'm not sure I understand why either.

Posted by Michele Reneau, Realtor, GRI ~ Charleston, SC Relocation Experts Team (Certified Staging Professional (CSP) Elite Instructor) about 10 years ago

I constantly preach this.  I've been involved where my listing agent was also the buyer's agent..... never again.  It was certainly a learning curve, but one where we felt we maybe didn't get everything we shouldn't have out of our LA.  Now when we sell, we check the box that does NOT allow dual agency.  Our LA can simply get a referral fee from whomever they send that client to, but we want their full loyalties (opinions, commentary, etc).

Posted by Melissa Marro, Jacksonville Real Estate and Home Staging (Keller Williams First Coast Realty - The Marro Team) about 10 years ago

Thanks for taking the time to post this ... excellent information

Posted by Debbie Salmon (keller williams) about 10 years ago

Good morning Michele!  I too have run into so many Buyers who think this very thing.  I am currently working with a Buyer who, after I emailed listings and showed homes said to me, "Well, I want to call the listing agent to see if I can do better with them."  OK I say, "Just make sure they are also protecting your best interests since they are currently under contract to work for the Seller."  And then I read this and linked it to him for more information!    Thanks for the help - without knowing that you helped! -- Gabrielle

Posted by Gabrielle Kamahele Rhind, Broker/Owner (KGC Properties LLC, Tucson Property Management & Real Estate) about 10 years ago

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