How to Buy a House in Maine: Listing Agents vs Buyer Agents

 

This is not unique to Maine, but it is probably the thing most people don't realize, or at least don't have top of mind when they start the process. The vast majority of REALTORs do represent both sellers and buyers. But it is rare for them to do so on the same transaction (it's legal in Maine if all parties are aware, but that's another topic).

A home owner who is selling will work with a listing agent. That agent's job is to set pricing strategy, develop marketing, and get the most net value on behalf of the seller (or get the most of whatever the seller's priority is—they may value how quickly it sells over net dollars, for example). In other words, the listing agent is working for the seller, and has no loyalty or responsibilty (other than honesty and disclosure of material defects) to the buyer.  

A buyer agent, on the other hand, is working for the buyer. In other words, the buyer agent has no loyalty or responsibility (other than honesty) to the seller. The buyer agent's job is to find properties their buyer may be interested in, show the property, research the property, advise on offer strategy, and negotiate the best deal possible for the buyer.

 

Ok, so that makes sense, right? You have two parties that might engage in a transaction, and they each have a representative working on their respective behalves.

So here's the part that most buyers don't realize when they are starting out. As long as they are properly licensed and a member of the Multiple Listing Service (MLS), your buyer agent can show you any home on the market.

 

You do not need to (and actually shouldn't because they don't represent you) contact the listing agent to see a home. Just work with a buyer agent you like and trust, and they can take you to see anyting listed in the MLS.

 

In Maine, we have one MLS, and it covers the entire state. A buyer agent may well set their own geographic boundary. But technically they can show you any listed property in Maine.