Hello all. I have a question… Do I need to be represented by an agent in order to start making offers on properties listed on the MLS, or can I make offers on my own?
You can use the listing Agent if you prefer however the listing Agent is working for the seller and although they must be honest and objective for you it is really hard if they have been trying to sell the property for a while. There are benefits and drawbacks to this.
First if the listing agent is going to represent you then they get both commissions. 3 % for selling it and 3% for Listing it. So really a lot of times the agent will do the whole thing for 5% total commission and you should in theory be able to have that 1% taken off of the sale price. However if you use your own buyers agent then you have someone in your court which in any situation other then the perfect scenerio then you will benefit from having your own agent.
It’s kind of like having your own negotiator in a divorce. You want to make sure you get the best representation for your side of the deal.
I would strongly suggest using your own agent. Just my opinion but I have been in hundreds of transactions where it has saved the buyer when something came up in an inspection or if a purchase has to go to mediation.
Just my two cents but I think it is very wise to interview and work with someone who has been in the business for a while and knows there stuff.