The advantages to sticking with one agent when buying a home… Over the years, I’ve helped many people buy homes. I’ve also lost a lot of clients simply because many people simply do not understand how the real estate profession works. This I blame on the industry itself. The National Association of Realtors (NAR) and MIBOR (Metropolitan Indianapolis Board of Realtors) have not done a good job promoting the use of dedicated buyers agents. In fact, MIBOR made it worse when they made the decision to no longer make buyers sign a contract with their buyers agents. They still offer the form in the forms database, but it actually says “Optional” on it. Try getting someone to sign an “optional” contract! (It never happens.)

When most buyers start looking for house, they start on the Internet. If the buyer uses a generic site like Realtor.com, most every home is listed by a different agent. So if ten homes make the buyers short list, up to ten different agents might be called, each offering to show their property. This also happens with drive-by searching. Agents never mind showing their own property because of the possibility of “double dipping” on the commission. Meaning they would earn both the listing side of the commission and the buyers side of the commission. Of course a buyer is ultimately going to work with only one buyer’s agent per transaction which means the other nine (or however many were called) won’t make a dime. This is both frustrating and unfair to agents and is not good for the buyer either.

A buyer should never use the listing agent as their buyer’s agent. The simple reason being a conflict of interest. You wouldn’t hire the prosecuting attorney if you were the defendant in a legal battle would you? Of course not. In real estate, the listing agent typically has a natural allegiance with the home seller. If that’s the case, they will not be looking out for the buyers best interest, instead, looking out for the seller first and foremost.

A major advantage to woking with one agent is they get to know the buyers needs. The best way to figure out what a buyer wants is to go home shopping with them. After looking at several homes together, the agent will see first hand what’s most important to the buyers. This can go a long way in finding the ideal home. Sometimes it takes an outside perspective to point out a pattern that buyers can simply overlook.

Having a single contact for every home and every question you have as a buyer is much easier than scattering your focus among multiple agents. Odds are, you still have to go to work everyday and your house shopping is being done in your “spare” time. Keep your life as simple as possible having one number to call every time.

When you find a good agent, stick with them. This is easier said then done. One recommendation is to use a full time agent. That’s the first indicator they are likely a cut above the majority. If the agent is reliable, experienced and is responsive to your needs then stick with them. They will be thankful you did and will be aptly rewarded at closing.

Happy Home Hunting!