Is there really such a thing as a free real estate agent? I mean, we have to make our money somewhere, right? So what exactly do I mean by a free real estate agent?
When it comes to listing property in Farmington Hills, Michigan, it’s true that the seller will need to pay a commission to that Realtor® or real estate agent that lists the property. But when it comes to the agent representing the buyer, buyers typically do not have to pay their agent anything since the agent usually receives half of the commission set forth by the seller.
Does this mean that the agent is working for the seller and not the buyer?
No. A buyer’s agent’s only works for the buyer to find the right property at the right price. Their only goal is to find the right home or property for that particular buyer and not sell any one specific home. Buyer’s agents realize that they will receive part of the commission on the home the buyer chooses, so it doesn’t matter which home the buyer ends up purchasing so long as that’s the right one for their needs. A buyer’s agent will never pressure a buyer into purchasing any one particular home over another. On the contrary, a listing agents sole goal is to get that particular home sold for the seller.
Can the listing agent also be the buyer’s agent?
Yes. This is also called dual agency and it can get pretty tricky. Although there are several successful listing agents, myself included, that have represented both the buyer and the seller in many transactions, it is something to be a little cautious about. As a buyer you want to make sure that your financial needs and confidentiality are taken into consideration.
If a buyer or the buyer’s agent find a home that matches the buyer’s requirements perfectly, but that home is not currently listed by an agent but rather for sale by owner, the buyer’s agent can still ask for a commission and handle the transaction. Many times sellers are more than grateful that the buyer’s agent has brought a buyer to the table and will happily pay a commission since it’s really only one side that they’re paying.
So yes; there is such a thing as a free real estate agent when it comes to the buyers. The next time you’re ready to buy or sell a property anywhere in Farmington Hills Michigan or the surrounding areas of West Bloomfield, Bloomfield Township, Commerce, Troy or Novi, consider my services first. Let’s get started today on finding you the right home in Michigan.