The vast majority of real estate deals in New York City are done between a buyer’s agent and a seller’s agent, or listing agent. Despite this, one of the most common objections buyer’s agents come across from potential clients is “Are you the listing agent? I only want to work with the listing agent.” These scripts present multiple ways to respond to this objection and demonstrate your value to the prospect.
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That only works if you trust the agent to be unbiased and treat you equally to the seller, who they’ve represented for some time.
The listing agent may have a lot of information about the property, but keep in mind that their job is to get the highest price for the seller, whereas mine is to get the lowest price for you.
You as a buyer will pay no fees for a buyer’s agent, who’ll represent your best interests, negotiate on your behalf, navigate the NYC buying process, and ultimately protect you, the buyer. The listing agent, on the contrary, has a fiduciary responsibility to the seller.
It’s tempting to think you’ll get a better deal because the seller won’t pay as much commission if you forgo using a buyer’s agent, but that isn’t the case because the commission is already fixed regardless. Also consider that the listing agent has a contractual obligation to get the highest price possible for the seller.
If there’s something wrong with the property or the price is unreasonable, your buyer’s agent has a duty to tell you so. The same is not true for the listing agent.
Imagine going through a divorce and having the attorney representing your spouse also represent you. It wouldn’t make sense.
Going with the listing agent is like going to court and having one attorney represent both the plaintiff and the defendant.