Buying and Selling: Should you use the same Broker or Agent for both?

August 2, 2012 | By

When it comes to buying and selling real estate, in a lot of cases, those looking to purchase real estate will often use their selling real estate agent – or broker – as their buying agent as well. For most people this holds a convenience factor and seems to make sense. However, it can be a definite conflict of interest, for obvious reasons – and perhaps not so obvious.

Clearly having the same broker sell your current property and help you purchase a new one, seems like it should be a seamless process, but not all brokers are created equal. This is not to say that your real estate agent is looking for a quick double dip, but maintaining separation between “church and state” is always a wise choice – even if the “church” of choice is representing well-meaning real estate brokers.

Studies have shown that; using the same agent can prolong both the selling process for your property, as well as potentially stall the purchase of your new home. Why? This split duty agenda obviously requires both time and commitment. Having a broker’s focus divided by the same client who is asking them to simultaneously sell their current home, as well as help them purchase a new one, splits their prerogative regardless of how well intending, honest, and proactive they are.

How then do you decide on your buying broker and your selling broker? We all have our strengths and weaknesses, and real estate brokers are no different from the masses. Finding a selling broker who tends to be the “inviting” sort is a good start in accomplishing selling your home. This type of real estate agent often knows about home staging, and how to create an inviting environment for potential buyers to come, look, and envision your home as their own. They understand how to drive traffic through your home, and steer them in the right direction as they browse from room to room.

Whereas a buying broker’s strengths are more in line with cost vs. value, investment vs. payoff, as well as area knowledge as it pertains to if that market is growing and people are buying and selling in that location, and at what price-point they should be scooping up your potential home at.

Obviously you can find a real estate agent who might effectively do all of the above. This is more a word of caution than one that needs to have you alarmed – if in fact your current broker is moonlighting as both your seller and your buyer.

That being said, if you feel the sale of your home and the purchase of your new one isn’t going as smoothly as you hoped – think about splitting these duties up between a buying broker and a selling broker. No harm no foul, and everybody wins!

 

Filed in: Buying and Selling Real Estate

About the Author (Author Profile)

Andrew is a West Coast enthusiast through and through. He is a native of the area that you will often find adventuring on one of the many sea to sky activities that abound in the Fraser Valley. Along with being in love with the place he calls home, Andrew is a well known and respected Realtor focusing on helping others to find their own perfect home in Langley, Surrey, White Rock and beyond! Visit www.yourperfecthomebc.ca to find your perfect home.

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