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Why shouldn't I ask the listing agent for help?

5/17/2014

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One of the the biggest (and most persistent) myths in Real Estate is that home buyers will get a better deal when buying the house directly through the listing agent. Try as I might, I just cannot figure out the reasoning behind it!

Silver Spring, MD Buyer FAQ: Why shouldn't I just ask the listing agent to help me?

The listing agent is the seller's agent and as such he/she has a fiduciary duty to the seller. Any information that you, the buyer, disclose to the listing agent can and will be used against you in negotiations. Buying a home through the listing agent will not put you in a better negotiation position and will not save you money.

It is the listing agent's job to get the highest and best price for the property. Why would they assist you in getting the most bang for your buck? They won't and they can't.

In Maryland a REALTOR® can only represent one side, either the seller or the buyer but never both. The broker of a company can act as a dual agent and designate agents for either side. The listing agent can also assist a buyer with submitting an offer but said assistance is very limited.
Which contingencies should you include? The listing agent can't answer that question. Can you prepare a Comparative Market Analysis for me so I know how well (or not) the house is priced? Negative! Is the seller willing to pay my closing costs? No!

When buying a Silver Spring, MD home it is in your best interest to hire a buyer's agent to represent you. You shouldn't ask the listing agent for help because his or her loyalty lies with the seller. Anything you say that could somehow help the seller in negotiations has to be reported to him.

Buying your new Silver Spring, MD home with the help of the listing agent will not get you a better deal and will not save you money. 


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Can I still call you after closing?

5/5/2014

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Can I still call you? asked my client recently after we closed on her new Howard County, MD home.

Why, yes, of course! I will always have time for you!

I have always found closing days to be bitter sweet. Going from frequent meetings, daily texts, emails and phone calls to very little communication takes a bit getting used to. I actually find myself missing that interaction once all is settled and done and keys were exchanged. Maybe we can call it client-withdrawal syndrome  

Of course, she can still call me. In fact, I would love for her to. I want to hear how much she enjoys her new home, the personal touches she added or upgrades she made. I love to see pictures of the improvements in my email in-box, birth announcements, Christmas wishes and phone calls just because.

And if she has any questions in the future, I would be more than happy to answer those, preferably over a cup of coffee. Our buyer-broker-agency may have officially ended but our relationship has not.

Perhaps I have just been incredibly blessed but I do enjoy ongoing relationships with my clients. As a matter of fact, I'm going to meet one of them for dinner this weekend and I can't wait to catch up and find out what's new.

Can I still call you? asked my client. Of course! I would love to hear from you!


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