veterans in handling their real estate transactions came about recently, throughout the last decade. This has caused veterans like yourself to wonder if using a real estate agent is no longer necessary or an expense that can be avoided. Doing the work yourself can save you money if you buy a “For Sale By Owner” (FSBO) house, and sometimes the seller agrees to reduce the price by what they would have typically paid to a listing broker (half of what a listing broker would traditionally receive). Still, for many veterans, a do-it-yourself home purchase might be pricier than a real estate agent’s commission in the long run. In most home sales, there is a listing agent (the agent the seller engages to sell the property) and a selling agent (the agent who introduces the eventual buyer to the transaction). The selling agent is sometimes called the “buyer’s agent” because they are often working on a particular buyer’s behalf, and it’s easier than explaining that the selling agent is not the listing agent but the buyer’s agent. Some real estate agents market themselves as “buyer’s agents,” “exclusive buyer’s agents,” or “buyer’s representatives.” These agents have chosen to make a business of finding homes for prospective buyers, including veterans like yourself, and handling the negotiations and transactions attendant to the purchase. These agents want to accentuate why buyers shouldn’t go directly to the listing agent when they purchase real estate. A buyer who goes directly to the listing agent and allows that agent to “manage” both sides of the transaction deals with an agent with conflicting responsibilities. Their job is to get a reasonable price for the seller, and they might not zealously represent the buyer's interests. Those who market themselves as buyer’s agents indicate they only work for the buyer in a real estate transaction.
The seller traditionally paid the buyer’s agent's commission.
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