own real estate transactions came about recently, throughout the last decade, as well as the new laws. This has caused buyers to wonder if using a real estate agent is no longer necessary or if it's an expense that can be avoided. While doing the work yourself can save you money if you buy a “For Sale By Owner” (FSBO) house and hoping the seller agrees to reduce the price by a commission % (previously half of what a listing agent would traditionally receive), for many, a do-it-yourself home purchase might be pricier than a real estate agent’s commission in the long run. In most home sales, there is a listing agent (the agent the seller engages to sell the property) and a selling agent (the agent who introduces the eventual buyer to the transaction). The selling agent is sometimes called the “buyer’s agent” because he or she is often working on a specific buyer’s behalf, and it’s easier than explaining that the selling agent is not the listing agent but really the buyer’s agent. There are some real estate agents that market themselves as “buyer’s agents,” “exclusive buyer’s agents,” or “buyer’s representatives.” These real estate agents have chosen to make a business of finding homes for prospective buyers and handling the negotiations and transactions attendant to the purchase. These agents want to accentuate the reasons a buyer shouldn’t go directly to the listing agent when they purchase real estate. A buyer who goes directly to the listing agent and allows that agent to “manage” both sides of the transaction is dealing with an agent who has fiduciary duty responsibilities to the seller. Their job is to get the best price for the seller, and they do not represent the buyer's interests. Those who market themselves as buyer’s agents indicate they’re only working for the buyer in a real estate transaction, looking out for your best interests as a buyer.
The seller traditionally paid the buyer’s agent's or selling agent's
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