Did you know most listings are not sold by the agency representing the seller? The national average a number of years ago was around 13%. However, I was speaking to the principal broker of a large real estate agency not too long ago and she told me her company probably sells only about 5%-10% of their listings in-house. Isn’t that interesting?
I think this is actually a good thing for consumers and real estate professionals alike; it avoids a very precarious situation known as Dual Agency which means neither the buyer nor the seller are represented. The listing agency always represents the seller’s best interest and cannot assist a buyer unless unilateral consent to Dual Agency is given. Therefore, for those who think they can get a better deal by going directly to the listing agency, that is generally a false assumption. Undisclosed Dual Agency would be breaking the law. That is why buyers should find a buyer agent who knows what they are doing, has good relationships with seller agents and is a good negotiator.
Here on Martha's Vineyard, most seller agents realize their listings are overpriced, but they have to appease their seller clients who think they know better. The good-guy, bad-guy dynamic created by the separation between seller agent and exclusive buyer agent usually produces a much more advantageous outcome for all concerned. To be safe and have full access to all properties for sale, I suggest you always hire an EXCLUSIVE Buyer Agent. That way there can be no necessity for creating a Dual Agency relationship and the possible conflict of interest. To be blunt, you want SplitRock Real Estate on your side, and if you need representation in another part of Massachusetts or another part of the country, I will help you get the best exclusive buyer representation.
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