Don’t Play the Game with the Wrong Ump!

What does baseball have to do with real estate? I’ll explain.

My last post underscored how a buyer can potentially make the wrong move by calling the listing agent to see a property. I wanted to go further to illustrate the importance of selecting a buyer broker to represent your interests and to be on your ‘team’.

I’ll borrow a sports analogy to make my point about buyer representation. Let’s say that you’re part of a baseball team that has reached the championship game. It look a lot of effort and preparation to get to that point. You might have even had good instruction along the way that helped you acheive your goal. Now, let’s say you are presented with the opportunity to pick the umpire from anyone present at that game. Who would be the last person that you would pick to be the umpire? Probably the last person you would pick would be the manager of the other team.

Could that manager of the other team be an unbiased umpire for the championship game if his own team was competing? Not likely! Who is his allegiance to? His own team (the opposing team)! You could safely say that he would show favoritism towards his team and you’d be in for an uphill battle in trying to win the game. It would make it much harder to achieve your objective.

It may sound silly, but buyers often make this very same mistake in their home purchase. Unsuspectingly, buyers have the opportunity to choose any real estate broker to represent their interests, but often they choose the opposing team. The listing agent wants the seller to ‘win the game’, even if it is at your expense. All agents are required to be fair and honest with all customers, but the listing agent’s objective is to get the highest price and best terms for the seller.

Don’t make the same mistake! Pick a real estate broker who will be on your team during your negotiations.

Every real estate agent in New York State is required to present you an Agency Disclosure which explains which ‘team’ they work for. Don’t view a home without it and make sure you clearly consider the advantages of buyer agency or you might ‘lose’ the game.

The next installment will review some of the specific tasks that buyer’s agents can do to make your home purchase ideal.

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