Steps on how to buy a home -Step 3
Lesson 3 - Find An Agent
You might choose to use a real estate agent, even if you plan to buy a for sale
by owner (FSBO) home. Sometimes agents can recover fees from a FSBO seller, but
when they can't they will expect you to pay a commission.
Agent Loyalties
An agent can represent you or the seller, but loyalties to each party differ
depending on which party the agent represents. You must understand the
differences between a buyer's agent and a seller's agent before you talk to
anyone about your real estate needs (references below).
The Myth
Have you heard that you can "get a better deal" by contacting a home's
listing agent? Not necessarily so. That person represents the seller and is
contractually bound to get the best deal for the seller. It doesn't mean the
agent can't work with you in a fair and professional manner, but it does mean
there could be a conflict of interests.
Finding An Agent
Ask friends for agent recommendations.
Talk with several agents if necessary to find one you feel comfortable with. Do
not sign a contract with any agent until you are sure that agent is the one you
wish to represent you.
The busiest agent in town isn't necessarily the best choice. The goal is to
find someone who you feel is ethical, someone who will keep your needs in mind
on a daily basis. That can be any agent, seasoned or brand new to the field.
You don't have to work with just one agent, but it's often in your best
interests to do so. An agent who knows you are working exclusively with her is
more likely to remember you and watch for listings.
If you live in a small town, agents will most likely have access to the same
properties. If you live in a large city, you may need multiple agents to get
the best coverage of separate neighborhoods or subdivisions.
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