Buying Your Home - Working With a Real Estate Agent

 

Absolutely! However, be aware of the differences between sales agents employed by developers and traditional real estate agents. Builders often require an outside agent to be present and sign in during the first visit to ensure commission discussions can take place later. Always call the development first to understand their policy on compensating real estate agents.

 

 

 

Looking for a top-notch agent? Start by getting recommendations from friends or colleagues who have had positive experiences. You can also contact reputable real estate firms for recommendations. Interview at least three agents to compare their experience and marketing plans. A good agent works full-time and has several years of experience. Sellers should expect a comparative market analysis to understand local home prices.

 

 

In many states, agents now represent buyers exclusively and are paid a commission by the sellers. Some buyers opt to hire and pay for their own agent, known as buyer's brokers, who are legally obligated to represent their interests exclusively.

 

Getting a recommendation from a trusted source is a great way to find a good agent, whether you're buying or selling. Make sure to ask if they would use the agent again. You can also reach out to managers of reputable real estate firms for recommendations of agents experienced in your neighborhood.

 

 

A reliable agent typically has several years of full-time experience. Buyers usually don't pay for their agent's services directly, as agents are often compensated from the seller's proceeds. However, in some states, agents can represent buyers exclusively. Hiring a buyer's broker means they work solely for you, though this may come at an additional cost.

 

Sellers should interview multiple agents, reviewing their sales presentations and comparative market analyses. The agent with the highest asking price isn't always the best choice; consider their marketing plan and how well you can work together.

 

 

 

The more your agent knows, the better they can negotiate on your behalf. Agents can represent buyers exclusively (single agency), sellers exclusively (sub-agency), or both parties (dual agency). Disclosure of agency relationships is often required before entering a real estate transaction.

 

 

Agents have a fiduciary duty to the seller, with the seller paying commissions to both brokers involved in the transaction. Dual Agency: One broker represents both the buyer and seller, creating a potential conflict of interest. Dual agents cannot disclose certain information without written permission. Buyer's Agent: Represents the buyer exclusively, often requiring payment from the buyer's pocket. Buyers can trust these agents with financial information, ensuring it isn't shared with the seller.