REALTY: Two sides to the story

Both sides are right in the "builder vs. Realtor" debate.

But, they are both protecting each other's turf, and I don't see either side reaching out very much for the consumer (buyer).

In any real estate transaction you have a seller's side and a buyer's side.

If a builder/Realtor is selling his own homes, then he or she is a seller. If a Realtor has a listing, then he or she is representing the seller.

Now comes the tricky part: The buyer.

In order for a buyer to have an unbiased full representation in a real estate purchase, he or she has to have his or her own Realtor (agent).

When you hire your own buyer's agent, it cannot be the builder's agent or the seller's listing agent, for they represent the seller. The goal of a seller's agent is to try to get the highest and best offer to meet the seller's needs. The goal of a buyer's agent is to try and get the best terms and the lowest price for the buyer.

Let's take it one step further. There is a strong reason to have two different real estate firms involved in any real estate transaction.

The real estate broker of Firm A has a lot of agents, and they ALL work for the same broker. It is the same with real estate Firm B.

Example: You are working with an agent with real estate Firm A and you are out previewing property. You find a home listed with real estate Firm B. That's OK, make an offer; you will be fully represented. But what if you found a home listed with real estate Firm A that you want to make an offer on, now what? Idaho has a dual agency clause that covers this situation. Your agent with real estate Firm A can write up the offer. But keep in mind real estate Firm A already has a seller's agency agreement with real estate Firm A. In order to get full unbiased representation, you need to hire an agent from real estate Firm B.

Prior to purchasing or selling a piece of property, interview a LOT of Realtors. Find one you are comfortable with.

DAVE CLARK

Post Falls