This does not sound like a good thing to me at first glance. Who’s negotiating for whom?
Yet if I’m the seller and have a good relationship with listing agent, it could be a good thing. Right? The Agent would be motivated to sell at the highest price for highest commissions….?
But in the end it seems that the buyer would make out with the best deal.
Make no mistake the listing agent works for the seller even when they represent both parties. As long as the buyer understands that it can work out well.
This happened to us and we didn’t feel like it served us, as sellers, well.
“Our” listing agent was more focused on collecting both sides of her deal than assisting other agents who claimed to have offers coming in. We were relocating for work and wanted to get going. This was back in 2009 when the market was sinking. We couldn’t shake the feeling that she was too attached to the buyer.
On the buying side, we got a taste of it again when a seller’s agent put our first-in, full-price offer aside and made an in-house deal, over the weekend, without a counter.
We did this as buyers. We didn’t have a buyer’s agent lined up, and we had some options with getting one, but decided to go with the listing agent.
IMHO:
Using the listing agent gives you a better chance of getting the house if you really want it. The listing agent knows the motivation of the sellers and also knows the numbers that are likely to sit well and may tip you off if you are below (you aren’t getting tipped off if they are above I’m sure) that number. They also know how to present you in the best light to the seller. I’d think the listing agent is very likely to try to get your deal to go through with you as they will make more commission.
That said, the only downsides I could see with using a listing agent (in the case that you really want the house) is that:
1) You may not get the best deal
2) You may not be fully represented for anything such as repairs prior to the sale.
As long as you’re fine with that, I didn’t see any other downsides from the buyer side.
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