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by jasode
3263 days ago
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>Can you give me a few examples of what kinds of value one gets while buying? If a buyer is unfamiliar with the area (e.g. job relocation), a competent agent can point out the desirable & the unpublicized undesirable aspects of particular neighborhoods. The agent knows the area intimately and that knowledge can be worth paying for to avoid buying the wrong house. If I'm living in the same house for 20 years and I see a house right down the street from me go up sale that would be perfect for my elderly parents so I could keep an eye on them, I wouldn't need a buyer's agent since I would already know more about that house/neighborhood than any agent would. |
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This is just utter rubbish. Buyer's agent has absolutely no incentives to publicize undesirable aspects as the agent is still paid half of the commission on the sale price which means that the agent has all the incentives to inflate the price.
But lets pretend that this is the exclusively buyers agent? Well, the thing is - if this buyer's agent is not working for buyers only brokerage he or she is still going to be not on a right side because the brokerage needs cooperation of the sellers agents. In fact, the customer of a buyers agent is seller's agent, NOT the buyer. Even worse, where a buyer can do 2-3 transaction via agent ( unlikely really but possible ) the agents that represent the other side are likely to do dozens of transactions with him or her.
It is even worse for the buyer only brokerages ( they do exist but they are super rare ).
This entire agent industry needs to be destroyed.