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Until about 5 years ago, when a buyer was working with a Realtor and submitting an offer on a house, the buyer's Realtor was actually working for the seller. Both Realtors involved in the deal were playing the role of "commissioned salespeople," treating the buyer as a consumer and trying to get the best deal for the seller. It was caveat emptor; buyer beware. Today, Realtors play more of a consultative role and the better ones don't consider themselves to be salepeople. The seller's Realtor doesn't sell the house so much as they help the seller position the house in the marketplace to its best advantage to get the highest price for it. More importantly for you, today's buyers have their own Realtor. When, as a buyer, you retain a Realtor under contract, they are obligated to protect your interests and to help get you the best deal. They are obligated to ensure that you avoid properties with problems that will cost you money after you buy, unless you know about them up front and adjust your offer to compensate for your after-purchase expenses. They are obligated to inform you about what other buyers are paying for similar houses, and to ensure that you do not offer too much. The best part is, your Realtor's commission is still paid by the seller, not by you, the buyer, except under rare circumstances. What does that mean when you're looking for a house? In the past you would have called up the "agent" whose name was on the for-sale sign and put in an offer through them. Today, you understand that he's working for the seller. That would be like calling your spouse's lawyer to represent you in a marriage breakup. You now would call a Realtor to represent you in the deal. If you're wise, you will call an experienced Realtor who has evolved with buyer agency and has incorporated it into a system like my Fast-track program. You can learn more about buying in todays market through my FAQ page, or you can just call me with your questions!
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