Buyer’s Agents have tools to establish Fair Market Value.
I was working with a family earlier this year to find a waterfront home with easy ocean access that could accommodate 3 boats between 30-60 feet. After exploring waterfront homes in three counties together, they found a home while driving around on their own. They contacted the listing agent directly on a direct Intracoastal waterfront home listed for $2.49 Million and negotiated to purchase it for $2.4 Million.
Commissions are paid by the seller and negotiated at time of listing not at time of sales contract.
Some buyers believe they can renegotiate the listing commission during the sales negotiation process. The Listing Agreement is a legal contract between listing agent and seller – BEFORE marketing the home.
Misconception of Saving Money.
The buyers throught they had saved $70,000 by going directly to the listing agent. Out of curiosity, I did a comparable market analysis (CMA). My CMA showed the fair property value was $2,150,000 unfurnished. Without an experienced Buyer’s Agent with tools and experience to research fair market value – the buyers overpaid $250,000 (less value of furniture).
Seek expert advice from a Buyer’s Agent so YOU don’t overpay!
CALL (561)827-2952 for assistance to BUY or SELL Florida real estate.