last decade. This has caused buyers to wonder if using a real estate broker 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 the seller agrees to reduce the price by 3% (half of what a listing broker would receive), for many, a do-it-yourself home purchase might be pricier than a real estate broker’s commission in the long run. Besides, a buyer generally doesn’t directly pay any commission to a broker on a house purchase. On most home sales, there is a listing broker (the broker engaged by the seller to sell the property) and a selling broker (the broker who introduces the eventual buyer into the transaction). The selling broker is sometimes called the “buyer’s broker” because he or she is often working on a certain buyer’s behalf, and it’s easier than explaining that the selling broker is not the listing broker but really the buyer’s broker . There are some real estate brokers that market themselves as “buyer’s brokers,” “exclusive buyer’s brokers,” or “buyer’s representatives.” These real estate brokers have chosen to make a business of finding homes for prospective buyers and handling the negotiations and transactions attendant to the purchase. These brokers want to accentuate the reasons a buyer shouldn’t go directly to the listing broker when they purchase real estate. Would you go to the court and hire the same lawyer as your opponent??? A buyer who goes directly to the listing broker and allows that broker to “manage” both sides of the transaction is dealing with a broker who has conflicting responsibilities. Their job is to get the highest price for the seller, and they might not ambitiously represent the buyer’s interests. Those who market themselves as buyer’s brokers indicate they’re only working for the buyer in a real estate transaction.
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