Are you house hunting in Northern Virginia? Have you been calling from sign to sign hoping to score a deal by working with the listing agent? Do you understand what it means if you don’t have your own Realtor® working for you?
This means you are making one of your largest financial purposes EVER completely on your own. While the majority of Northern Virginia Realtors® working ethically it doesn’t mean you will be getting the information or advice you need. The listing agent represents the seller. They are obligated by the listing contract they signed to hold information the seller has told them in confidence. Their role is to promote the best interest of their client.
Did you tell the listing agent at the open house this was your dream home” Did you say your mom and dad were going to pay your closing costs? Any comment you make to the listing agent, no matter how innocent it may seem can be used against you and hamper your ability to negotiate a good deal on your new home.
However if you have a buyer’s agent they are working for you. A good Northern Virginia buyer’s agent knows the questions to ask before you write an offer. They know they how to write a contract protecting you, negotiate on your behalf and help you get from offer to settlement. In Northern Virginia our contracts aren’t easy to navigate. Besides the standard purchase of sale there are multiple addenda to be included with your offer.
It has been said enough time for most buyers to know the commission being paid is coming from the seller. Without your own representation all of what was agreed to in the listing agreement goes to the listing agent. Don’t think you can negotiate with the listing agent to give it up or credit it to you. Remember they work for the seller and the agreement on the commission has already been determined.
If you’re considering the purchase a home soon, sit down with us for a chat about your needs before you head out on your own. We’ll make sure nothing you say can be used against you while you look for your dream home.
Oh and when I wrote this my mind heard this unforgettable DUN DUN from Law and Order