This weeks most viewed Trulia Voices post was asked by Amy Hickman, a home buyer and home seller from Woodstock, Georgia: Should I use the same agent to sell my home and be my buyer’s agent for my new one?
Amy has a “certain amount” of equity in the home she wants to sell and thought of going FSBO in order to save commission but has learned that she has many other options that real estate agents can help her with. With over 35 comments, lets check out a snippet of what our community had to say.
Thoughts From our Trulia Voices Real Estate Community
Karen and Warren Owen are real estate agents RE/MAX Communities in Marietta, Georgia who said, “This is not an uncommon practice and many agents offer similar arrangements. But start with your goal in mind and hire the most aggressive and competent Realtor you can find.”
Solomon Greene, a real estate agent from Keller Williams Realty Atlanta Partners in Atlanta, Georgia said, “You’ll want to give some thought to your destination. How familiar is your listing agent with your destination area? If the agent offers little experience there, it may present a challenge for you all. However, that agent can also refer you to an agent that offers more familiarity with the area for a referral fee…….”
Brad Nix, a real estate Broker from Maxsell Real Estate in Cherokee County, Georgia said, “Yes, assuming you are moving within the same general area you are selling. Many agents offer discounts as you mentioned.”
Real estate agent Hank Miller from Prudential GA Realty in Atlanta, Georgia says, “It’s a common event to use an agent to cover both sides – but understand that the key to success is a thorough vetting of any agent. You should conduct interviews of several agents and agents from different companies. The initial challenge will be getting your home sold in this market – that will come from a comprehensive and multi-leveled marketing plan lead by and agent skilled in the SELLING process; many agents jumped in during the big rush and have no idea how to work a “real” market.”
David Feldstein is a real estate agent from Exit Kingdom Realty in Forest Hills, New York who said, ” I think you really need to look at both of the transactions differently. You should not try to package both of them with related commission structures… You should use the same agent if you feel comfortable doing so. Interview the agent who is selling your home on their skills as a selling agent… Ask questions about past sales, marketing methods, and so on…. The commission in my opinion should be the last thing you discuss…”
My Thoughts
I think the Trulia Voices community has a pulse on this subject and encourage you to read the other comments on the thread. Personally, I think it really depends on numerous factors. But all things being equal, if your agent is the local expert in the area you are both buying and selling in and you have a solid trustworthy relationship, then I think it’s a great idea to have your agent be there for you for both transactions.
Legacy Comments
Hi,
I’ve been a Realtor for almost 30 years now and personally I see no problems with having the same Realtor sell your current home and help you buy a new one.
I always find the other Realtor much easier to work with if he’s me.
Rudy,
I think the taste of “getting both sides” of a commission is one of the major issues that blinds realtors to current reality.
I believe the next step towards transparency and integrity in the real estate industry is to separate the buy side and the sell side, with BOTH parties having representation.
Greed, both in the financial markets and the real estate market, is lying on the ground with a stake in it’s heart. It’s time that agents wake up and smell the coffee to understand why realtors are ranked at the bottom of the ‘most trusted’ list…
Let’s start by truly focusing on the best interests of our clients and not ourselves.
Hi Jim!
Your experience speaks for itself
Hi Michael!
I understand your point of view if it’s the same transaction. But I think in this case, it’s is slightly different. Amy is talking about two separate transactions – one to sell her current home and the other to buy her new home.
So, as other agents have mentioned on the Voices thread and on Twitter, an important factor depends on where both homes are located and whether or not that agent has expertise in each of the local areas. It’s also important to know whether the agent has the experience of working as both a buyers agents and a sellers agent.
If an expert in one but not the other, it may be a good idea to have your agent provide you with a referral to a more qualified agent for that particular area.
If both homes are in the same market area it makes no sense to not use the same agent. BUT If they feel uncomfortable with the agent then I’d go elsewhere. Working with the same agent will help stream line the process, they already know your financial information and can coordinate the dates and make sure both closings are as stress free as possible. When I list I usually find a home for my sellers if they are staying in the area.
Certainly not on the same transaction, but I don’t see a reason not to on a sell and a purchase. Especially if you are happy with them.
I dont see a problem with using the same agent if you are happy with them. Using the same agent can save you a lot of time
If you have an agent that you have a good relationship with, is and expert in the area and has your best interests in mind, you absolutely should use that agent for both transactions.
I think it’s great to use your Realtor for boths sides of the transaction. The seller already knows you and trust you. The buyer feels you know more about the house and can answer more of there questions, “with in our agency obligation of course”. Usually when I do both sides, I try to pay the extra things, like septic and well inspections for the seller. Especially because we make more money on commission when you do both sides. Yes, I have been stuck with a couple, but that is the Real Estate business, anything we can do to help make the transaction smooth and “happy”.
Although I work in a State (AZ) that accepts-allows Realtors to work in a ‘Dual agency’ (representing both buyer & Seller of same property) I don’t recommend the buyers to ‘ever’ be represented by the listing agent.
The buyers, in no way, can FULLY be represented 100% fairly, by an agent who’s fudiciary responsibilities are first and formost, to the seller.
I have done it, yes. I also feel honestly, at this point in my career, that the buyer could of done better had they had another representative frankly, as well as the seller achieving the utmost representation without any comprimising, THAT MUST BE DONE TO REPRESENT ALL PARTIES. If I did do it again,I would put the buyer and seller together in a room for a conference, and have them ask every single question ‘to each other’ that they could, during the inspection period. That way, there are no hidden agendas or things the sellers can’t hide from the buyers, as well as ‘my’ EXTREME liability THAT MUST BE UNDTAKEN, to protect both parties,with thier material matters being addressed directly, by the principles.
For more info on this subject please call me. (602) 570-9007
Debra Savittieri
HomeSmart Brokerage.