A lot of real estate agents in our markets these days say they are buyer’s agents. (Most are actually designated buyer agents but that is a different issue.)
However, in our experience few agents will actually help a buyer negotiate anything other than the purchase contract on the house.
Here is an example of negotiating for the buyer’s benefit with respect closing costs, specifically title company services:
Twice this month listing offices have wanted to close at their related title company. I sometimes have a problem with this which puts me in a position opposite the listing office and the title company.
First, financial relationships should be disclosed. It rarely is.*
Second, those companies have wanted to charge our client $145 or $205 more than the cost of closing at a local title company that doesn’t have financial ties with any real estate brokerages.
Now the question is, would a designated buyer’s agent who worked for the brokerage making the extra money off the buyer’s closing fee actually negotiate the fee? Or even have the ability to move the closing away from the captive company? It is the buyer’s money, does anybody else care?
I’m betting most designated buyer agents don’t have the guts.
I’d love to hear from any buyers who have had their designated buyer agents negotiate lower closing costs from the in-house company.
Any comments?
If you are looking to buy a home and you want a real estate company that will always be on your side, in your corner, and looking out for you, call us.
734-662-6240
Jon Boyd Broker/Manager
The Home Buyer’s Agent of Ann Arbor, Inc.
1908 W. Stadium Blvd.
Ann Arbor, MI 48103
We serve the Ann Arbor – Brighton – Plymouth – Novi – Canton – Ypsilanti areas in Southeastern Michigan.
And we can guarantee that you will never be stuck with designated agency, dual agency, or non-agency.
*The exception is Surovell Title here in Ann Arbor. There the relationship is obvious. (And they also provide solid service at market price.)