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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