August 03, 2014
When we get a lawyer, we would expect the lawyer to be on our side. There is the defence lawyer who is on the defence side. There is the prosecutor who is on the prosecution side.
One would then naturally believe that just like a Seller's Agent would be on the seller's side, then the buyer's agent would be on the buyer's side.
Unfortunately, this belief is absolutely untrue. This belief is a marketing gimmick to trick the buyers.
Fact is, both the seller and buyer's agent is on the seller's side!
Think of it this way. It is the seller that has agreed to use and commit to the services of the Real Estate Association in that province. It is the seller that is paying the seller's agent AND the buyer's agent. The seller wants to sell the house at a high price to get the most money. The seller's agent want to sell the house at a high price to get the highest commission. The buyer's agent want to sell the house at a high price to get the highest commission.
There is absolutely no benefit to the buyer's agent to help the buyer find valuable homes at low prices. If such houses exist, the buyer's agent would buy the houses instead of selling it to someone else.
Thinking a buyer's agent is on the buyer's side is like thinking the salesperson who works on commission (like FutureShop) is there to help you get the lowest price!
The buyer's agent is a salesman hired and paid for by the seller to help the seller sell the house.
The only control the buyer has over the agent is selecting the agent. The buyer has the right to hire and fire the agents he chooses. Once the agent is selected, the agent could be helping the seller get the most for his or her money. So be careful!
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