Why you need your own Realtor?

Published By: on August 4th, 2011 in Category Nanaimo Real Estate News
Published By: on August 4th, 2011 in Category Nanaimo Real Estate News

Your Realtor has a legal relationship with you know a “Agency”. The means that your Real Estate Agent owes you his or her loyalty, must obey your (legal) instructions and is responsible for the careful stewardship of your money and property within the context of a real estate transaction.

There are usually 2 Realtors involved in each sale. The listing Realtor represents the sellers. He or she lists the property on MLS, markets the property, arranges showings and negotiates the best possible price and terms on behalf of the sellers. The buyer’s agent searches for suitable properties for the buyers, arranges showings, presents the offer to the sellers and negotiates the best possible price and terms for the buyers.

As you can see there is an inherent problem created when the listing agent (who has a duty of loyalty to the sellers), offers to act on behalf of the buyers too.  This is, in fact, legal to do this, but clearly there is a conflict of interest between what is best for the buyer and what is best for the seller.

When you see a property for sale that interests you, do not call the  Realtor on the sign.Call your own Realtor, or get your own Realtor by calling me, Deirdre Love at RE/MAX of Nanaimo, or call your local RE/MAX office and speak to the person on duty. Just get someone that will negotiate on your behalf with only your interest in mind.