Friday, December 12, 2008

Case Study in Buyer Representation

Little by little, people are learning about the realities of representation. The listing agent represents the Seller. A buyer agent represents the Buyer.

The sale of a home is a legal transaction. In any other legal transaction, would you call the opposing side to ask them questions or tell them your situation? Of course not. They can use anything you say to strengthen their position.

Recently, while in the midst of negotiating an offer for a client, it occurred to me that the listing agent seemed to know more about my client than I had told her. And soon after, she said "Well, your client sent me an email saying..."

Needless to say, this caught me quite unaware. The email gave the listing agent insight into the clients plans, and thus allowed her to create a strategy for negotiation. We will never know if we could have had a different outcome had the email not been sent.

I am not talking about illegal or unethical behavior. But think of it as a poker game - if you show your hand, your opponent knows how to play theirs.

Make sure you retain professional representation, but then trust them to do their job. Any communication with the opposing side should ALWAYS be handled through your agent. It is for you own benefit.

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