Buying and selling are both different sides of the story when we are talking about home sales. The one trying to get is opposite to what others want to get – the buyer intends to steal the property, whereas the seller wants to earn many dollars possible. The common denominator between them is a sale.
Both sides can avail benefits of appointing affordable real estate service providers. However, the reasons for interest can be different.
1. It’s about Money!
Imagine this if you are anticipating going for sale by owner (FSBO) while listing your home. Every homeowner wants to cut the middle man out to earn as much dollar as they can without paying extra commission to the affordable real estate service provider. However, statistics reflect the contrary situation. The home that raised by FSBO sold about 20 percent less from the call price compared to properties listed with an agent.
You would have to pay a commission in any way if affordable real estate service providers sought assistance. The commission of the buyer side agent depends on the amount of deal finalized. Yet it will save a lot after paying commission to your agent.
And what about seeking agent’s assistance for buying? After all, if the seller is paying the commission, why not the buyer? There is always a razor-thin possibility that the seller will either accept or refuse the offer of the buyer. Ultimately, the buyer moves on and looks for other properties.
2. Consideration Detail
You might not be familiar with understanding and reviewing the property documents compared to affordable real estate service providers. You need to have complete information while buying or selling a property. Moreover, a purchase agreement is another aspect of 10 pages that needs to adequately checked.
Fortunately, if the affordable real estate service provider is on-board, you don’t have to worry about the documents, and selling/purchasing deed as your agent will meet the requirement and make sure everything streamlined. If you are wondering about saving money, so you may make a mistake while reviewing documents. Never destroy your deal for keeping a few dollars.
3. Privacy, Personal and Fiduciary Duty
The affordable real estate service provider will be your back whether you’re selling or buying. They have responsibility called fiduciary of their client. They are abiding to put their client’s legal interests first.
To meet the requirement, a service provider needs to be confidential. As a purchaser, do you want to disclose all financial details, including FSBO, to anyone who doesn’t have a legal obligation? Now put a similar situation in the shoe of a seller agent. That doesn’t have any legal abiding on you. So it can be risky for you.