Quote:
Originally Posted by Winsor_Pilates
Sorry, but that's really bad advice.
The only person who benefits here is the listing agent who gets to "double end" the commission.
They get the full 7/3% instead of having to split it with your buyer's agent.
You think you saved money but how do you know a good buyer's agent couldn't have negotiated a way bigger discount than you saved on the commission you weren't even paying in the first place?
You don't have anyone looking out for issues in the property, strange zoning, stigmas that will effect the long term value of the home, bad construction techniques, poor electrical wiring, asbestos, mold, renovations done without appropriate permits....
The listing agent certainly doesn't care about you finding things, they may have a long term relationship with the seller, why would they care about you?
They certainly don't care about you getting a good deal, they want their seller to get as much as possible, you're just some random stranger.
You also don't have someone going through all comparable sales data for the area with you and explaining exactly what appropriate market value and a good deal is. Unless you relied on the listing agent for that, who again doesn't care about you, they care about their client.
Maybe you're the exception, and your purchase worked out perfect but this goes wrong for buyers way more often than it goes right.
We're legally not even allowed to do this in BC anymore since so many clients were getting unethical treatment on double enders.
I'm surprised it's still allowed in Calgary, probably won't be for long.
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You're giving the buying realtors way too much credit here, we did try going through them the first time we listed our condo and went looking at houses, but they only wanted to show us "their" houses, and got annoyed when we brought them our own list to look through. They also insisted that we would only be able to knock a few thousand off of asking price since the market was "so hot" (we ended up buying for $40k below asking). They seemed pretty useless which is what got us to go the next round by ourselves. Also the selling agent didn't "double end" the commission, they ended up giving the sellers a reduced fee because they didn't have to split the commission, which is why we we able to get a decent discount
I also had our own inspection done on the house prior to signing off so I was quite confident we weren't getting a raw deal. Also had separate lawyers do up the paperwork (that part is law), so no issue with zoning or renovation permits. I honestly don't see the purpose of going through a separate realtor to buy if you're capable of doing your own research, the realtor isn't going to go out of their way to look out for you. They're just interested in earning the most commission, the same as the selling side