working with an agent / choosing an agent / find a home /
understanding contract / write an offer / home inspections / obtain financing / closing
Working With An Agent
A good real estate agent makes the home buying or selling process much more efficient and saves you an incredible amount of work. Listed below are some frequently asked questions about dealing with real estate agents and brokers.
What is a real estate agent?
What is a broker?
What is a REALTOR®?
What does a real estate agent do?
The agent then follows-up on all the necessary paperwork, including the mortgage application, setting up a home inspection, and coordinating the work of the attorney, title company and any other people necessary to complete the deal.
An agent does not arrange a mortgage or other financial assistance. However, agents can recommend mortgage companies, attorneys, inspectors and other professionals for you to interview.
If you are selling your home through an agent, the agent will provide you with a comparative market analysis (CMA) showing recently sold homes in your area that will help you set a price for your home. They'll also explain their marketing plan of advertising, direct mail campaigns, open houses, promotion of your home to other agents, and other steps they plan to take to ensure a quick sale of your home. They'll also take care of the dozens of critical details that need to be addressed after an offer to purchase your home has been made. Homeowners who elect to sell their home on their own often overlook the fact that a large part of the work is not just marketing and selling the home, but making sure that the sale actually gets to the settlement table.
How is a real estate agent paid?
What is Buyer Broker vs. Seller Agent?
Background. Buyer agency came about in the 1980s as a solution to rising confusion over whom agents work for. Under the conventional system, an agent could work for both a buyer and a seller, which could lead to a conflict of interest. The agent’s obligation was to the person paying their commission, regardless of who contacted the agent first. This meant an agent was not necessarily representing the buyer’s interest in obtaining as low a home price as possible, as well as providing a full selection of properties to choose from.
Buyer Agency. A Buyer's Broker represents the home buyer. They can provide the buyer with information about a home, area, prices, etc. that a seller's agent, by law, cannot and they can also inform the buyer of the bad as well as the good about a property. Since the Buyer's Broker is working for the buyer, he or she does not try to sell a property, but helps in buying one. This makes the home buying process less stressful and intimidating.
When the buyer calls a real estate agent or company off a sign in the yard of a home or an advertisement, or an open house or work with an agent whose company has the property listed, that agent and that company are working for the seller
Seller Agency. A Seller's (or Traditional) Agent represents the seller. They are bound by law to get the seller the best possible price and terms and not divulge any information to the buyer that would be contrary to the seller's best interest. This agent cannot legally negotiate on the buyer's behalf. It is also the duty of the seller's agent to tell the seller any information that you, the buyer, entrust to them. This includes any information that would weaken the buyer's bargaining position.
What is Dual Agency?