Common Myths When Buying a Home

Finding The Perfect HomeIf you’re like many home buyers, you have already started looking at homes on various sites online, driven through neighborhoods, and you think you found the perfect Knoxville, TN home for you. So, now what do you do?

One might think the next logical thing to do is contact the agent on the sign. As it turns out, this is a common home buying mistake based on several myths.

 

MYTH 1: It’s best to contact the listing agent as they are already familiar with the property.

Of course the agent on the yard sign knows the property, that’s because they were hired by the owners to help sell it. That’s what listing agents do. Their job is to represent sellers in property transactions, marketing properties to potential buyers and helping sellers earn as much as possible on the sale.

Does that sound like an agent who will be looking out for YOUR best interests? Home buyers in Knoxville, TN will be better served if they avoid the listing agent and select a buyers agent to arrange a showing. Anything you tell the listing agent may hurt your negotiating position, so you want your own agent who will represent YOUR interests in a home buying transaction.

 

MYTH 2: You’ll save money on commissions if you work with the listing agent.

Not true! Commissions paid to the buyers and sellers agents are usually predetermined and written into the listing agreement — the agreement between the listing agent and the sellers.

That means buyers don’t necessarily save anything by going directly to the listing agent. More importantly, when a buyer approaches the listing agent, they have potentially lost an opportunity to receive loyalty, confidentiality and other fiduciary duties that buyers agents owe their clients.

 

In the long run, it’s best to find your own agent, someone who will work hard to get you the best price and terms for YOU. If you are looking for your Knoxville, TN home, contact me today.

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