Personal Finance

Buying Home/Condo-Better to work with own agent or seller agent?

  • Last Updated:
  • Jul 25th, 2011 4:22 pm
Tags:
None
Deal Addict
User avatar
Nov 23, 2010
1577 posts
798 upvotes
Toronto

Buying Home/Condo-Better to work with own agent or seller agent?

I just started looking at moving out and went to some open houses/condos today in the area i like to get an idea of floor plans, area etc and when speaking to a few of the selling agents they all seemed a bit eager at the fact that i wasnt working with anyone quite yet and said they could cut me a better deal.

I did some reading around and it does seem to have some advantages (and disadvantages) to using the selling agent or to get my own personal agent.

I was wondering how were peoples experiences when they had a "double agent" working for them, that served both as the buying and selling agent?

Is this the best way to get a good deal?
1 reply
Newbie
Jul 24, 2011
19 posts
4 upvotes
YORK
Most agents will reduce their commission aprox 1% when acting as the selling and buying agent but that does not mean that you will get the best price or service.
One big problem with this is that the agent has a relationship with the seller first.
If you feel comfortable with the agent and think that the home is already at a price you want, then its tempting to see if you can save the extra %. In many cases that agent will work extra hard to get the deal done as they will make a fortune in commissions.
However, you may also end up signing with this selling agent to represent you, have the situation go wrong and are stuck with that agent or made a horrible decision based on biased information.

Personally, I always go with a trusted agent. I have one that i have now used for my last three transactions and believe that he will be working for me to get not just the best price but to make sure that I am protected and making a smart buy. It has made the difference in a few situations.......

Top

Thread Information

There is currently 1 user viewing this thread. (0 members and 1 guest)