Here's a post for a not-so-common question. But I bet it's secretly asked by many.
Do I Need to Use the Same agent to Buy and Sell?
Well, the short answer is NO, you don't. But let's talk about some reasons why you might want to, and why you might not want to.
Using the Same Agent to Buy and Sell: Advantages
- Convenience. You only have to manage one relationship, and one call helps clear up questions and next steps in both directions.
- Problem solving: Since you're dealing with just one agent, they know the ins and outs of each deal, and can head-off potential problems if they happen. Most of my "back-to-back" deals have a number of "Waterfall Contingencies". It's super useful to make sure that you're able to protect your money and not endanger deals.
- Cost: You may be able to save money on commissions. That could be nice.
Using the Different Agents to Buy and Sell: Advantages
- Local Knowledge. If you're moving out of your listing brokers area (and you are using a local expert to sell you house, of course....), than it could be wise to shop with another buyers agent. A home is big expense, and it affects every aspect on your life, so finding someone who knows the in and outs of the area should be a number one concern. Dragging your agent out of area may help pad his/her wallet, but are you getting the information you need? Make sure you are.
- Two Opinions: If you have problems on one deal, you can ask hypothetical questions about how it might be resolved by asking the other agent. Don't expect the "non-involved" agent to know all about the details of the situation, but it can be useful to discuss in general what the options are, just in case there's something that makes more sense to you.
- Privacy: Since the deals don't overlap with the same person, there's a better chance of keeping things separate. This can be helpful in divorce or separation situations.
So you see, like most things, there's no right or wrong answer here, but if you have complicated deals in the same area, I would lean towards the same agent, and if you have simple deals in two different locales, I would get different agents.
Do Good Things Today!
Matt Heisler
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Matt Heisler is a real-estate professional and owner of Heisler & Mattson Properties. He has been selling residential real-estate for over 10 years. He has given several talks on real estate, including presentations on first-time buyer tips & tricks, and profiting in real estate investing in Massachusetts. As a Vanderbilt University alumnus, he is proud to serve his local community. *All information is posted in good faith and is assumed to be reliable, but may rely on third party information sources.
