Is the Buyer’s Broker Needed

In times past in real estate transactions people in the trade would call the buyer’s broker a cooperating broker, but this terminology was never correct.Cooperating misleads the public in many cases, because it makes it sound as if the seller’s broker and the buyer’s broker are working together in collaboration to join their respective clients for the transfer of the property. When this terminology is used it excludes talking about fee sharing and the legal the legal establishment of an agency relationship. This terminology make it appear that the agents have joined together to purchase the property with their assistance. This is not so. The seller’s agent strives to get the best deal for his client and the Buyer’s agent seeks the best deal for their client, the buyer.

There are sub-agents, and based on legal terminology they sub-agents are the cooperating agents. However, the terminology for the use of the term cooperating seller’s broker is a legal term for a sub-agent who is acting on behalf of the seller who mat be a dual broker or Dual agent. According to code a sub-agent is an agent in the sale transaction who cooperates with the saller’s agent to sell the property or locate a buyer for their property, just like the seller’s agent. Notice they are agent’s not broker’s but they may be working under the same broker. One of the agent’s is trying to sell the property as is the other but not one of them has a agreement with the buyer to represent their best interest. They are each representing their broker’s best interest help the broker complete a dual agency sell.

The sub-agent as a cooperating agent is defined as having specific affirmative duties of care owed to the seller, not the buyer. The broker’s hands are tied he cannot possibly offer each of these agents the possible deal for their client. Either the seller’s client or the buyer’s client will get the best deal. Still the cooperating agent is to deal fairly and not in a deceitful manner with the buyer. The seller’s agent who was able to get the listing is also bound to also deal fairly and not in a deceitful manner, but they work for the seller not the buyer so they seek the best deal for their client, the seller.

So now you must decide if you need a buyer’s agent when you start searching to find you next or first property. If you trust the agents do their jobs property you’ll have an agreement with a buyer’s agent or broker who are their to advise you, not seeking a sale in the best interest of the Seller.

Note:  I am not sponsored by any company or person therefore the use for the produce is my own and based on my personal empirical data. Images on this blog site are from a free source or taken by the author. No image or group of photos is intended to represent the people the author serves. The author does not care about Race (that is a politically correct term that he does not like because we are all of the same Race, the Human Race. He prefers the term ethnicity, color, religion, sex, gender, marital status, disability, genetic information, national origin, source of income, Veteran or military status, ancestry, citizenship, primary language or immigration status.) He is a service provider for all people. We will all rise together when we band together and help one another. Joseph Erwin is a Real Estate Broker, DRE # O2131799, and a CA general contractor # B 696662.  He resides in Southern California.