Page 20 - How To Buy A Home In Louisville

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Buyer Agents and Their Services

Buyer agents?! Why would a buyer need an agent? You just said I can find the houses I want to see online!

Of course you can look at houses online! That’s not The seller’s agent only works for the seller’s best in-
why you need an agent. Now is a good time to dis- terest in negotiations. A seller’s agent has to tell the
cuss what a Buyer’s Agent does. seller everything they know about you, your financ-
es, and your motivation for buying. As your buyer’s
We have found that some buyers are unaware of the agent, we are not allowed to tell anyone. If the seller
services their Realtor® should provide, and what laws doesn’t have an agent and is selling their house “by
and procedures apply to buying a home. If nobody’s owner,” then they are really not working for your best
told you yet, we will. interest in negotiations. Be careful.

Your realtor has a fiduciary responsibility to give you
loyalty, honesty, fairness, and confidentiality of your
buying motivation and finances, and an obligation to
work for your best interest at all times. Even though
they legally represent you in the transaction, you can
talk to your realtor about having the seller pay their
commission as part of the sales price of the house.

Remember, we work for you. The seller’s agent is
the one with the sign in the yard. Therefore, if you
see a sign in the yard of a house you like, be sure to
call us directly to find out how much it is and to set
an appointment. Because of “procuring cause” laws,
if you call the seller or seller’s agent directly, you
could lose your right to representation. We compare
this situation to a courtroom: if you are the defend-
ant, do you really want to share an attorney with the
plaintiff?
Similarly, when you go to an open house, tell the
agent on duty that you are already working with a
Realtor®, and be careful not to say anything that
could hurt you in negotiations, like, “Oh, this is the
perfect house, when can we move in?”

The River Valley Realty Group - How to Buy a Home in Louisville, Kentucky 18