How to Buy a House in Harrisburg PA: Using a Buyer's Agent Over the past couple of weeks, I have seen news reports about home buyers who are considering how to buy a house, who seem to think they will save money by not using a Buyer's Agent. It is a myth and I thought it was time to set the record straight.
The Commission Is Not Dependent on the Number of Agents Involved. Listing Agents reach an agreement with their clients - the Sellers - as to how much commission is to be earned upon the sale of the home. It is negotiated between them and is part of the Listing Agreement. The Listing Agent then determines how much he is going to offer a Buyer's Agent for bringing a buyer to the table. If the Listing Agent procures the buyer himself, the total commission is the same - he just does not have to split it with another agent. It has no impact on the Seller's proceeds or home price. When learning how to buy a house, you must understand that the List Price is not determined by the agreed upon commission.
A Listing Agent should not negotiate on behalf of a Buyer, unless given permission by both parties. The Listing Agent owes a fiduciary duty to the Seller. Their job is to get the highest possible price for their client - the Seller. A Buyer's Agent's fiduciary duty runs to the Buyer. Their job is to get the lowest possible price for their client - the Buyer. However, Dual Agency - one representing both parties - is allowed in certain states (like PA) upon disclosure. When considering How to Buy a House, a Buyer's Agent will represent YOU!
Most Buyers' Agents Charge Nothing to their Buyer Clients. There is a misconception that it costs money to use a Buyer's Agent. While some do charge a fee, many (like myself) do not. We get paid upon the sale of the home by whatever commission split the Listing Agent is offering. When considering How to Buy a House, a Buyer's Agent will not cost you ANYTHING!
Hidden Costs of Not Using a Buyer's Agent. Buyer agents are more than door openers. Besides showing you the property, a buyer's agent will assess the home, along with its location and price and will point out potential problems to you that you may not see. A buyer's agent will look at sold comparables to help determine an appropriate offer price and negotiating strategy. And, buyer's agents are with you all along the way in your quest to learn How to Buy a House, to help you meet deadlines and negotiating the rest of the process - home inspections, repairs, financing contingencies, etc. For a complete list of services provided by a buyer's agent, see my earlier post about What to Expect from Your Buyers Agent. Without someone to guide you and advocate for you throughout the process, you could miss dates and deadlines that could end up costing you money.
As a fellow buyer agent once said, you would not get divorced and use the same attorney as your spouse, why would you buy a house and use the same agent as the Seller? Why go through learning How to Buy a House, and skip this most important step of hiring a Buyer's Agent?
For Exclusive Buyer Representation in Harrisburg PA and surrounding communities, and to conquer the best way of How to Buy a House, contact your Harrisburg Buyer's Agent, Ken Huebsch. I can be reached at 717 514-1793 or Ken@KensHomesales.com. It will cost you nothing and could save you thousands.
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Harrisburg PA Real Estate Expert
Ken Huebsch: Your premier real estate agent in the Greater Harrisburg area. I am a specialist in Harrisburg real estate as well as the communities of Palmyra, Hershey, and Hummelstown. My wife Leslye and I have a combined 40+ years' experience serving our clients -We KNOW Harrisburg. When you plan to buy or sell Harrisburg area real estate, allow us to work for you. We are dedicated professionals and are here for your success.
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Cell: (717) 514-1793 Email: Ken@KensHomesales.com
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