Have we failed to explain who we work for?

I never cease to be amazed how many buyers contact me because I am the listing agent. Why do they do this? Maybe because my name and number were on the sign. Maybe it is because they want to talk to the agent that knows the most about the property. I wish those were the reasons. Most often it appears that they contact listing agent because they “think they will get a better deal” by coming to us.

As listing agents, we are fiduciaries for the sellers. We work in their best interest. In fact, our seller clients’ interest (over everyone else’s including our own) is our obligation. Buyers either don’t know that or they know it, and don’t believe we do. Either answer is bad. And it makes me question if agents are explaining this properly.

Sometimes buyers have agents and they call anyway. I ask every buyer who calls me if they are working with another agent. Often, I don’t get an honest answer from them but eventually the fact materializes.

Buyers should be made aware that agents that represent the seller are obligated to repeat everything the buyer says to their seller client. Many buyers divulge information they should not. They often hurt their negotiating position with these tactics. Seller’s may not care who buys their house, but many do care about whom they enter into a transaction with when they don’t trust them to be honest.

I truly believe in the benefits of buyer agency and having an exclusive relationship with one agent. So to all the buyers out there, I say – Interview several agents and hire the best one to represent you and let them do just that. Let them guide you and advocate for you. Let them save you from yourself in some cases!! And when you go to open houses without them, please tell the agent who is hosting that you have representation (and tell them who your agent is) and then keep quiet.