Should I Use The Listing Agent Or My Personal Agent?

[Manuel A.]

Simple question...

This whole time I've been using my personal agent to look at properties and put in offers, but I feel using the listing agent to look at properties and put in offers would be better, and just using my personal agent to sell. Is it better to just use my agent for everything, or use the listing agent for looking and purchasing, and my personal agent for marketing/selling. Also, who do you think should provide comps?

Any consensus on these questions?

[Monica Breckenridge]

You should use your buyers agent. The listing agent doesn't represent you. I've had an investor client who when around me and bought a home through the listing agent and then wanted me to list on the re-sell. The listing agent provided them with bogus comps and they went off those #'s to buy the house. When they turned it over to me to re-sell I told them the house would never sell for that amount. If they had used me in the first place I would have told them that's not a good deal. Your buyers agent has a duty to represent you and to work for you. And if they are going to re-list the property after the rehab, they should know what the house sells for because their the ones that will be ultimately selling it.

Investors seem to think they will get a better deal going with the listing agent. This isn't true. The listing agent has a commission negotiated with the seller. If it's 6%, then no matter who brings the buyer the listing agent will bet 6%. They either split that with another agent or they keep the full 6%. In my state when a listing agent has the buyer, then they become a transaction broker. This means nobody is represented. You need somebody representing you. I can't tell you how important this is.