Except for a small percentage of FSBOs (For Sale By Owners), most homes for sale on Cape Cod are listed by Realtors using the Cape Cod and Islands MLS. Hence, the purchase of these homes must be conducted through a Realtor.
Some buyers mistakingly believe that they’ll get a better deal if they contact the seller’s Realtor directly rather than using their own. This is not only untrue, but it can be costly. Before you start going to open houses and touring homes, be sure you understand the following about Realtors:
- The seller’s Realtor owes his complete fiduciary responsibility to his CLIENT, not to you. While he certainly cannot LIE to you, he is unable to reveal lots of information about the home and/or his client that may help you get the home for less.
- The seller’s Realtor is obligated to tell his client anything he has learned from you that may help his client sell the home to you for a higher price. (Such as your sense of urgency, your true maximum price, your enthusiasm about the house, etc.)
By contrast, and at NO cost to you, your OWN Realtor can do the following:
- Tell you EVERYTHING she knows about the home to put you in the best possible negotiating position. This includes complete sale history, days on market, every price reduction since the original listing, unbiased opinion of the true market value of the house, and much more.
- Show you other homes on the market that also meet your criteria, so that you have a broad choice and once again, strengthen your negotiating position.
- Help you through every step of the process, including lining up an inspector, mortgage lender, lawyer, mover, and much more.
Using the Internet to search for homes on your own is a great way to begin your search and is highly encouraged. But when you start going to open houses or requesting private showings, be sure you’re working with your own Realtor who represents YOUR interests and your interests alone. I would welcome the opportunity to represent you as your full-time Buyer’s Agent. But whether you choose me or another Realtor, just be sure you’re represented. You’ll be glad you did.
Marie