Chapter 20: Agents and Brokers, Who Really Works for Whom?

Chapter 20: Agents and Brokers, Who Really Works for Whom?

A Scene from Real Life

A buyer thought “her agent” worked for her. He was actually the seller’s listing agent — everything she said reached the seller. She overpaid $15,000 without knowing.

Buyer’s Agent vs Listing Agent

Listing agent: sells at the highest price for the seller. Buyer’s agent: finds the right home for you and negotiates for you. Golden rule: never treat the listing agent as yours.

Dual Agency: The Hidden Danger

Same agent represents both sides. Refuse dual agency. Demand an agent who represents only you.

Commissions After 2024

Buyers may now pay their agent directly (2-3%, negotiable). A written representation agreement is required before touring. Negotiate the fee — 2% isn’t sacred. Ask the seller to contribute in your offer.

Choosing Your Agent (7 Questions)

• How many purchases closed last year? (10+)
• What are your exact fees? Who pays? (In writing)
• Ever advised a client NOT to buy? (Right answer: yes)
• Two references from past buyers?

Red Flags

• Pressures you to raise the offer without data.
• Suggests waiving inspection “to win.”
• Goes silent for days.

Action Steps

• Work with a buyer’s agent who represents only you.
• Interview 3 agents before committing.
• Negotiate fees in writing.

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