Are you searching for a Newport Beach home for sale? Trying to obtain the best “deal”? Then you need a buyer’s agent to help you navigate through the home buying process.
There are many reasons why you should have your own representation when purchasing a Newport Beach home for sale. And if you are under the impression that you will be saving money, you might want to think again. Buying a home is most likely your single largest purchase, don’t you want to make sure that you are protected?
If you were in a legal dispute, would you utilize the same attorney as the opposing side?
1. The Listing Agent has the contract with the seller before the buyer comes along. The Listing Agent has fiduciary responsibility to the seller, as the seller is the one who is compensating the listing agent.
2. A Newport Beach buyer’s agent has their fidicuary responsibility to you – the buyer. The buyer’s agent will conduct an analysis of the market and determine fair market value.
3. A Newport Beach buyer’s agent will negotiate in your behalf.
4. If you think you are saving money by going to the Listing Agent, keep in mind that the commission has already been established when the Listing Agreement is signed – so that means the listing agent will be paid commission on both sides of the transaction.
5. Your buyer’s agent will make you aware of new listings as they come available, and often times have pocket listings as well (listings that are not in the MLS).
If I can answer any questions about utilizing your own buyer’s agent in Newport Beach, please contact me.
Other articles about purchasing Newport Beach Real Estate.
Is Buying a Distressed Property Right for You?
What to Expect When Working with a Newport Beach Real Estate Agent
Perfect summary, Sharon! It pains me to see buyers duped by the listing agents; that pre-existing relationship with the sellers is certainly not something that I would risk tens of thousands of dollars on!