Real Estate agents are full of information that is ready to help their clients get the best deal. Agents work hard to ensure that their clients sell or buy their home in the best possible circumstance. But, what about when agents wants to buy their own home? How does that all work?
Do Agents Hire an Agent?
Do agents wanting to buy their own home hire other real estate agents to represent them? Sometimes. Most of the time, no - because agents understandably don't want to pay the commission to someone else when they can easily manage the deal. Sometimes though, especially in luxury real estate, it's a good idea to hire another agent to ensure that everything runs smoothly and you can still do your job.
Agents are also able to list their own homes, but they must disclose that they are the owners. If an agent simply doesn't have the time, the might hire someone to list their home for them. Or, if they have a good relationship with another agent and they can work out a commission deal, but no one really wants to work for less than they typically earn.
Tricks of the Trade
As one might imagine, real estate agents have tricks up their sleeve for when they want to buy their own home. As they should! Every profession does. Some of the perks of being an agent is that if you want to buy a home, you might be able to before it even hits the market. Especially in a competitive market, this is priceless.
On the flip side - agents know when a home has been on the market for far too long. They may be able to swoop in and make an offer based on their knowledge that the buyers might not typically consider.
The long and short of it is that it really depends. Based on the agent's workload, comfortability with the deal, and ability to separate their emotions will decide if they represent themselves or not.
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