When Buying a Home in the Phoenix Area, You Should Be Represented by Your Own Agent
Before I became a Phoenix real estate agent, I heard quite a few times from friends and family who said, "Oh, I just called the person off the sign and we bought the house from them" or "We just used the builder". Well I’m here to tell ya folks…. You are really doing yourself a disservice when you don’t have your own agent.
Agents who represent sellers (the name on the yard sign) have a fiduciary responsibility to their clients to negotiate the highest price and best terms. Their responsibilities to the seller also include disclosing material facts about you, the buyer!
How can this be a problem?
Well, suppose you want to buy a house in Phoenix and can pay closing costs estimated at $15,000. But in the offer – written by the listing agent – you ask the sellers to pay the $15,000 closing costs. What do you suppose the sellers will do with an offer asking them to pay $15,000 in costs knowing you have $15,000 in the bank, something they learned about because "your" agent was obligated to tell them? Situations like this happen all the time and they hamper the negotiating power of the home buyer. Sounds pretty simple, doesn’t it? You’d be surprised at how many people think they either have to use the agent listed on the sign or that their interests are fully represented.
I share this information to educate home buyers, not as a scare tactic. It is legal to act as a dual-agent in Arizona as long as both parties understand it and agree to it in writing. Think of it this way, it’s like hiring one attorney to represent you and the other party in a lawsuit. Not a smart idea! And the best part, it doesn’t cost you anything to have my team and me represent you. Read more about my home buyers program.