The recent settlement involving the National Association of Realtors (NAR) is poised to bring significant changes for both buyers and sellers in the real estate market. For buyers, the settlement introduces greater transparency in commission structures, meaning they may now be responsible for directly paying their agent’s commission, which was traditionally covered by the seller. This shift empowers buyers to negotiate commission rates and better understand the costs involved.
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1. VIP Strategy Consultation: Receive a consultation to pinpoint your ideal home, plot a timeline and best strategy for you. If not paying cash, we connect you with the right lender to assist with financing.
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5. Access to Vetted Professionals such as legal services, title, inspections, survey, insurance, appraisal, contractors, movers, etc.
6. Assistance with All Paperwork thru Closing tracking deadlines, scheduling inspection,reinspections, appraisal, final walk-through, and closing.
7. Negotiation & Offer Presentation: We draft, present, and skillfully negotiate your offer according to your best interests and follow up through closing.
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Why is it a Bad Idea to go Directly to the Listing Agent and NOT Hire an Exclusive Single Agent to Look Out for Your Best Interests?
When a buyer goes directly to the seller’s listing agent for representation on an offer, they risk compromising their own interests. The listing agent has a fiduciary duty to the seller, which means their primary obligation is to get the best possible deal for the seller, not the buyer. This can lead to a conflict of interest, where the agent may not fully advocate for the buyer’s needs, such as negotiating the price or addressing potential issues with the property.
Moreover, with the recent NAR (National Association of Realtors) settlement emphasizing transparency in real estate transactions, the importance of independent representation has become even more critical. A buyer’s agent works exclusively for the buyer, ensuring that their interests are protected throughout the transaction. They provide unbiased advice, market insights, and negotiate on the buyer’s behalf, which can be crucial in securing favorable terms.
In contrast, relying on the seller’s agent could lead to a situation where the buyer may not receive the same level of advocacy or protection, potentially resulting in a less favorable deal. Therefore, it is generally advisable for buyers to engage an independent buyer’s agent to ensure their interests are fully represented.
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