One of my agents recently worked with buyers, the proverbial empty nester couple, who were selling their home in the suburbs to buy a new home in the city. Let’s call them Sue and Bob.
Sue and Bob, unfortunately, had a very bad experience just before meeting my agent. They had gone to an open house, fallen in love with the property, and submitted an offer directly through the listing agent.
Even though the listing agent has a responsibility to a buyer in this situation, we try to remind buyers that the agent’s primary focus, and the person whose best interests they have in mind, is the seller. This means that every action the agent takes will be aimed at getting the best price and terms for the seller – not the buyer.
For Bob and Sue, this scenario turned into a complicated mess, not because the listing agent did anything wrong, but because they were working hard for the seller. There were six offers on the property and the listing agent skillfully negotiated with all parties to produce the best terms and price.
Bob and Sue, whose offer was not the strongest, were left feeling like no one had their back. They felt like no one was looking out for them, communicating clearly with them or advising them on what to do. And, honestly, it was true because they were unrepresented throughout the process.
As a buyer, working with an agent gives you a multitude of benefits. You have your own dedicated advocate throughout the process and someone to interpret what’s going on with the offer situation. Agents can also answer your questions, advise and guide you on how to make your offer stronger and how to compete in a multiple offer situation, and position you in the best possible way.
Just like the listing agent is working solely for the seller, a buyer’s agent has your best interests in mind and is working solely for you. This time, Sue and Bob have an agent on their side — the secret weapon that can help them seal the deal.