Can a Buyer and a Seller Have the Same Agent?

Have you ever heard of the buyer of a home and the seller of the same home having the same real estate agent at the same time? This doesn't happen often, and for good reason. In fact, I highly recommend staying away from this situation.

When a real estate agent represents both the buyer and the seller for the same transaction, they’re called a dual agent. In some locations, dual agents are actually illegal, while in other areas, there aren’t any laws against them, but dual agents are frowned upon by the real estate community.

This is because a dual agent cannot truly do their job. A real estate agent is supposed to fight for their client’s best interest and offer the best guidance and advice possible. But a seller and a buyer have opposite interests when it comes to purchase agreements and negotiations. The seller wants to get their house sold for the most money possible while the buyer wants to buy it for the least amount possible.

But if an agent represents both the buyer and the seller for the same transaction, they cannot represent the best interest of the buyer and the seller at the same time. That means that in a dual agent situation, someone loses. A dual agent presents a clear conflict of interest. The agent can’t offer either party advice or guidance without breaking their promise to the other party.

When you hire a real estate agent, you expect to get full access to their knowledge, experience, and advice. But in a dual agent situation, you won’t be getting what you hired the agent for in the first place. My recommendation is to avoid this situation from the start. When you go to get your home ready to sell, find an agent who can guide you through the selling process. When you decide you want to buy or build a home, get an agent who can walk you through each step of the buying process and offer you the advice you need.

Are you looking for an agent to represent you and give you the advice you need to make the best real estate decisions for your future?

You Don’t Need These Things to Buy a Home!

Today, we’re busting some home buying myths that can seriously mislead people. I see the myths floating around all the time, but they’re just not true! Let’s bust these myths so you don’t fall into their traps.

Myth 1: You need a 20% down payment to buy a house. This is the classic homebuying myth–and it’s so wrong. While you do need to put money down to buy a house, there are many, many mortgage types out there that can decrease the amount you pay upfront. Some programs require as little as 3.5% down, which can make getting into a home so much easier.

Myth 2: You need perfect credit to own a home. Having excellent or good credit is helpful when qualifying for the best interest rate on a mortgage. But is it a requirement? Far from it! In fact, there are many loan programs out there to help buyers with less than perfect credit finance a home. You might be surprised at how low the credit requirement is for some of these programs. I’m happy to tell you more about them, so just send me an email if you want more information!

Myth 3: You need to do it all on your own. This myth is so wrong! When you’re a buyer, you have the opportunity to work with your choice of buyer’s agent, a real estate agent who will represent you as a buyer. Your agent will guide you through all of the ins and outs of buying a home, provide the advice and experience you need to make the best decisions, and be there to support you through the whole process. Plus, the seller typically pays the real estate agents’ commission, so you get all of that advice and guidance for free.

Buying a home can be complicated, it’s true. But now that you don’t believe these real estate myths anymore, you should feel much more confident and empowered to buy a home! A home is within your reach, and I would love to help you through the buying process.

Have any questions about buying a home? Just go to my connect page and send me a message.

What Factors Determine Your Home’s Value?

Determining the value of a property is a complex process with a lot of moving parts. While it may seem like a quick online estimate will do the trick, getting a professional valuation done by a real estate agent will be much more accurate and give you a better understanding of your home’s worth on the market. Here’s a few of the things an agent will take into consideration when determining your home’s value.

- The size of your home: Homes with more livable square footage are worth more in general, so the larger your home, the more it will fetch on the market! That doesn’t mean that buyers aren’t looking for smaller houses though. Some buyers, like empty nesters looking to downsize, would love a smaller home, so it’s really just a matter of marketing your property to the right buyers to get the most ROI from your home.

- The age and condition of your home: Home in great shape will score more on the market. Likewise, homes that require more fixes and maintenance from potential buyers will be worth less. The market loves move-in ready homes, so those properties can be priced at a premium!

- Updates and upgrades done to your home: Does your home have a beautifully done kitchen renovation or just really nice finishes throughout? Buyers love to see upgrades and updates, and so they add value to your home!

- The performance of neighborhood comps: A good real estate agent won’t just look at the specifics of your home, they’ll look at how homes around you are doing on the market. They’ll look at the homes like yours in your area that have recently sold and are on the market. Then using the data they get from these comparable properties, AKA comps, they’ll be able to predict how much your home is worth on today’s market.

From learning about these four factors that determine your home’s value, you can see that a simple online estimate likely won’t get you the most accurate value. If you’re really interested in seeing how much your home is worth, then get in touch with a real estate agent!

Want to get my thoughts on your home’s value and what you can do to increase it? Just send me a message and I will help!

5 Tips for Every Homebuyer

When you know these five things, you’ll be set up for success in your home buying journey! There are some! foundational things you need to know as a homebuyer to make sure you play the real estate game right and get the best house for you. Here are five things every homebuyer needs to know:

1. Find the right neighborhood. The house is important, yes. But the neighborhood and area you live in can have a huge impact on the quality of your life. As a real estate agent, I highly recommend that you find the right neighborhood for your lifestyle and then find a house within that area. Not only will you make it easier to search for homes, but you’re more likely to be happy with your new house!

2. Send the right first offer. First impressions count when it comes to sellers, so make sure that your first offer is a good one! In this market where there are many potential buyers, it’s common for sellers to get multiple offers, and only send a counter offer to a few. Plus, sellers are people, so if you send in a low offer or one with many demands, they may get offended and refuse to consider other offers from you. Your agent will help you craft a first offer that will catch the seller’s attention and get them to engage with you.

3. Get an inspection. If you want to make sure you get a good deal on your property and get the most out of your home, a home inspection is definitely in order. A home inspection will ensure that you know exactly what you’re getting into and give you the upper hand in negotiations if any problems with the property are found.

4. Don’t forget closing costs. You know that you need to put down a down payment when you buy a house, and you probably have a nice little nest egg saved up for that. But did you know that you’ll also need to save up for closing costs? Closing costs are the costs necessary to close the deal–think the inspection, appraisal, title search, and mortgage lender fees. These costs typically range from 3-5% of the purchase price of the home, so it’s wise to save up for them in addition to your down payment.

5. Rely on your agent! Your buyer’s agent will be by your side to guide you through every step of the way. They’re there to give you advice, provide support, and give you all the information you need to make the best choices for your future!

If you follow these tips, you’re sure to have a successful home buying experience.