Should I represent my self when purchasing rentals

Question

Hello everyone,

I was wondering for the investors that has their real estate license. Is it a good strategy to let the listing agent represent you in a transaction to get the deal. Or should I represent my self to save money. I am not really worried about the commission I just want the deal. but I wanted to know what others are doing?

Joe Norman · Answer

The listing agent doesn't "represent" a seller and a buyer at the same time (at least not in Maryland). I believe the situation you are referring to would be a represented seller, and an unrepresented buyer. HOWEVER if the buyer is also a licensed agent are they really unrepresented?

It sounds like what you're trying to do is allow the listing agent to keep the buyer's agent portion of the commission. I would imagine that you can just write that into your offer - as long as its disclosed to the seller I don't see a problem with it (your broker might, though, assuming they take a % of the commission you earn).

Patricia Steiner · Answer

Add bench strength!  You need your own core resources who have expertise that you don't (or at least at the same level) who will have your interest in advising you.  Real Estate is too complex to be an expert in all venues.  And, remember this:  "if you're the smartest one in the room, LEAVE!"

Nathan Gesner · Answer

1. The listing agent represents the seller. They will not have your best interests at heart and they will not negotiate to your benefit. They are legally obligated to withhold certain information from you.

2. A Buyer's Agent is paid by the Seller or Listing Agent. In other words, it's not really costing you anything to have a professional represent you. Why would you not use one?

If you think all a Buyer's Agent does is fill out some forms and collect a big commission, you are naive. A good agent will understand the market in ways you can't. They know what something is worth and can cross-check your assessment. They put a second set of EXPERIENCED eyes on every contract and on the property. They have reliable contacts for inspectors, contractors, lenders, etc. They are skilled at negotiation and will work on your behalf to protect your interests.

Joe Miller · Answer

Get your own 100%. The listing agent does not have your best interest.

Russell Brazil · Answer

Always get your own agent.

Conner Olsen · Answer

@Denzel Faulken If you are interested in representing others to buy and sell real estate as a career then get the license. I wouldn't get it if you plan on just representing yourself.

Should I represent my self when purchasing rentals

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