On occasion I get calls from buyer’s who are interested in a house they have seen online and want to know how to reach the listing agent. I have been told from buyer’s there are several reasons for this:
1. I had a buyer tell me that she bought her home 18 years ago and didn’t use a Realtor back then and doesn’t want to use one now.
2. I have been told that it is just easier because the listing agent has all of the answers about a house.
3. I have been told that a buyer has invested in a number of homes and knows the in’s and out’s of the home buying process and doesn’t want /need their own agent.
Dual agency is legal in the State of Louisiana. Dual Agency in Louisiana is about one agent representing both the buyer and the seller and before reaching out to the listing agent you should think about what it means when you speak to the listing agent.. Dual agency in Louisiana means one agent with two clients, the buyer and the seller in the same transaction..
1. You don’t know if the listing agent is the brother/sister/niece/nephew/daughter/son of the homeowner. You might not know if the listing agent is a partial owner in the property and has a financial interest in obtaining a high price on a particular property which might put you at a disadvantage in the negotiations. The MLS and Code of Ethics require that agents inform other agents of their relationship to the seller.
2. You don’t know how many buyer’s contacted the listing agent on a particular property. Let’s say 10 buyers called the listing agent for information how would you as a buyer get to the head of a line when offers are considered?
3. State contracts are constantly changing. If you are an investor how will you know what those changes mean if you don’t use an agent. How will you know all of the changes that occur – do you intend to keep abreast of all the issues that a real estate licensee needs to know?
Through IDX (Internet Data Exchange) agreements Brokerages agree to share listings on their websites. Consumers should be finding a buyer’s agent they can work with and not chasing down each listing agent on each property. Finding that buyer’s agent means an agent who gets to know you, what you want in a property but also who knows what will work for you and what won’t, someone who is looking out for your interests in a transaction – not Uncle Joe.
Questions? Please call me 504-908-2268 (there are no stupid questions!)