Real estate myth 5

This is a continuation of a series of posts inspired by a conversation with an acquaintance who revealed a good deal of ignorance about the real estate profession. Because I think an educated market benefits everyone, I intend to debunk as many myths as possible. I hope you find this information useful. Please feel free to comment!

Myth #5: When I find a house I like, I'll just contact the agent selling it. I'll probably get a better deal anyway.

FACT: Remember that the seller has signed a listing contract with the listing agent. One of the things the contract stipulates is that the agent will be compensated for a percentage of the sales price to sell the home. There is no room for negotiating the listing agent’s compensation.

As a professional, the listing agent has a fiduciary responsibility to the seller. He is ethically and legally bound to do everything in the interests of the seller, not to the buyer. Consider using the services of a buyer's agent to represent your interests.