Web Buyers Deserve An Agent
The real estate industry love working two sides of a real estate transaction, representing both buyers and sellers. Two sides equal twice the commission. But what is good for the lucky real estate agent may not be good for the consumer. Despite strict agency rules, in these cases, the Realtor is walking a tricky tight rope between two parties who have big economic and emotional interests. In all but the most unusual cases, a buyer should not use the listing agent as their agent. Instead, buyers should seek out and be represented by agents who will vigorously negotiate their interest and navigate them through the transaction. Then along comes the Internet. Once the consumer's dream, the Web has proven to have an ugly side with more home buyers going directly to the listing agent for representation. Thirty-two percent of all home buyers who used the Web for homes used the listing agent versus only 19 percent of home shoppers who did not use the Internet, according to the recent California Association of Realtor's internet survey. UGH. Clearly, the success of putting listings on the Internet has also created a seamless way for buyers to find the ideal home and go right to the agent. Considering that most listings sites are owned and controlled by Realtor-friendly interests, these groups should spell out the dangers of dual agency and encourage buyers to be represented by their own agents. Otherwise, greed is driving poor consumer choice.