The agent on the sign represents the seller. If that agent also works with you as a buyer, this is called “Dual Agency.” If you would like to be impartially represented in the transaction, you may need to seek out a buyer’s agent.
To the surprise of many, “Dual Agency” is legal in the State of Ohio, and it is up to each brokerage and agent to determine if they chose to act as a dual agent. Dual agents must remain neutral – they cannot advocate for or against either party.
Sometimes consumers are agreeable to this, but not everyone is, so it is important to understand if you call the name on the sign the agent must remain neutral.
A buyer’s agent would work with the buyer and openly advocate for their best interests.
Our REALTORS ® are happy to help you in setting up showings for properties that are for sale by owner (FSBO). Sometimes the seller of a FSBO does not want to work with a REALTOR ®, but you always have the right to be represented.
Consumers who choose to sell FSBO often make unintentional errors, and having a REALTOR ® represent you as the buyer for those properties can ensure those unintentional errors do not cost you money.
Buying real estate always looks easier when you watch it on TV, where one of those “HGTV people” sticks a sign in the yard and hundreds of people converge on the house. Unfortunately, that’s not really how it works.
It takes more than a sign in the yard – much more, in fact. The list of things a REALTOR ® does for their client tops 140 unique steps, processes, and checkpoints. Many of these points are done by the agent behind the scenes so you can rest assured things are handled smoothly.
Working with a REALTOR ® ensures that you do not overpay for a property. The right agent will also ensure you understand the process from start to finish – buyers who try to purchase without an agent often make avoidable mistakes (ie, overpaying, errors in negotiation, overlooking key issues).
“Stay in your lane” is a key point when it comes to buying real estate. REALTORS ® have a skillset that the average consumer does not. We know you would not attempt to perform surgery on yourself – you would hire an expert. Just the same, you would not be well-served by attempting to purchase without the qualifications and skills of a REALTOR ® guiding you to the closing table.
For this question, let’s emphasize the word “able.”
REALTORS ® frequently take calls from consumers who say they just want to see a particular property, but they tell us they do not yet have a preapproval letter, or the cash on hand to possibly make the purchase. Some even say things like, “I’m not going to go waste a lender’s time if I don’t even like the property.”
Now, let’s pretend that the REALTOR ® shows the consumer this property without having a preapproval letter, or cash on hand, and they want to make an offer.
Will the buyer take them seriously? No.
Could they lose out to another buyer? Yes.
Even more important is the idea that without a preapproval letter, a buyer may be looking at properties they cannot afford.
We work with a great team of lenders who can help you to be ready, willing AND able to make your purchase!