Free Portland Real Estate Agent
We all perk up at the word ‘FREE”, don’t we? There’s something to that it makes us think ‘Ooo, I can get a really good deal here’. But then there’s that other side of the word ‘free’ that makes us think there’s a catch; there’s something we’re going to have to give away to get something for free.
The majority of the population knows that real estate agents are not free. It typically costs thousands of dollars to use a real estate agent to sell your home. But what about buying a home? Most buyers are already spending a lot of money on the down payment, earnest money, inspection costs etc. that they typically don’t have a lot of money to pay a Realtor®.
Well, here’s a little inside secret for you: Using a real estate agent to buy a home, (not sell) costs the buyer nothing. That’s right! Absolutely free.
Well then, why would a buyer’s agent do that? They have to get paid somewhere, right?
And we do. But it’s where we get paid that benefits the buyer almost every time.
When the seller decides to sell their home they typically enlist their home with a real estate listing agent. That agent strives to find a buyer but also market the home to other potential buyers and their agents. The listing agent doesn’t just throw the listing on the local MLS or in a newspaper and forgets about it; they market that home to their network of buyer’s agents, potential buyers they already may have, and of course, all the online tools and marketing strategies that they have gathered over their years of experience. The seller and the listing agent negotiate on a percentage of the sales price that will go to the listing agent and a buyer’s agent should another agent bring the buyer to the table. While everything is negotiable the typical percentage is between 5% and 7% to sell a property. That percentage is split usually right down the middle between the listing agent that lists the property and the buyer’s agent that found the buyer. The seller is actually paying both commissions once the house sells. Although, all commissions can be negotiated and there may be more or less on the buyers or the listing agent’s side depending on the specific listing.
But you can see how this would benefit the buyer. The buyers are already bringing a lot to the table as far as down payments and earnest money and any other out-of-pocket cash they may need. The seller simply takes the taxes and the commissions off of the purchase price of the home which escrow then divides up and disperses among the parties.
Read more: Benefits of Using a Buyer's Agent
Occasionally, buyers can think that their agent may steer them in one direction over another to a house that may be offering more commissions in another; this is unethical and not providing the best service to their buyers. A buyer’s agent, especially one that’s dedicated to helping buyers find the right home, is not overly concerned as to how much commission they are receiving on each transaction but rather whether there buyers are finding the right home at their right price.
(Related Post: Need to sell fast in California? Check out my associate buying houses for cash!)
So when it comes to FREE, buyers really do have the option of utilizing and enlisting a buyer’s agent for free. So, why wouldn’t you use a dedicated agent to help you on your side of the transaction? We are looking out for you and your needs above any seller or any particular listing. Your desires become my goals.
I would love to be your buyer’s agent on your next purchase or sale of Portland real estate. While this type of transaction is the norm, there are always exceptions to the rule such as for sale by owners and in which case each transaction must be negotiated individually. Contact Me today if you’re interested in learning more about how I can help you get into the right house at the right price without any real estate agent costs.