Home Buyer Resources: Choosing A Real Estate Agent

Home Buyer Resources: Choosing A Real Estate Agent

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The home buying process can be complicated, especially if you do not work with a real estate professional who is looking out for your best interest. There are several different types of real estate agents; each with different priorities. Choosing the right real estate agent is critical. Here are the three main types of realtors:

Sellers Agent

Many agents do most of their work as sellers agents; they have an agreement with the owners of properties that are for sale. The realtor tries to sell their property by showing it to buyers and marketing it to other agents. They generally receive a commission based on a percentage of the final sales price.

The sellers agent is loyal to the seller; legal and professional codes require a sellers agent to work in the best interest of the seller. A sellers agent will avoid saying anything detrimental to the sellers interest; however, the same laws prohibit them from hiding important information about the property. For example, structural problems must be disclosed.

The sellers agent will work hard to get the seller the highest price possible for their property; therefore, earning the highest commission possible.

Buyers Agent

A buyers agent works in the buyers best interest; their primary objective is to get the buyer a home for the lowest price possible. They look for properties that fit the buyers desired criteria and represent the buyer when they negotiate the price. A buyers agent is not allowed to do anything that will hurt their chances of getting a property for the lowest price possible.

Sometimes a buyers agent will charge their client a fee; however, in most cases, the sellers agent will negotiate a deal to split their commission with the buyers agent.

Dual Agent

This is rare; a dual agent is a realtor who is working as a sellers agent for a particular property and also representing an interested buyer. This can get complicated because the agent is required to represent the interest of the buyer and the seller.

The dual agent is prohibited from sharing too much information about one party with the other. If you are working with a dual agent, remember that their loyalty is divided. Dual agents work out best if the buyer is willing to pay the sellers asking price and both parties want to close quickly.

About the Author:
Mark Goedert of Goedert Real Estate has been working with home buyers, sellers, agents and investors for over 50 years. His team of real estate professionals works hard to make the home buying and selling process a positive experience for all parties involved. Visit http://www.under100000realestate.com/ to view real estate listings.



Article Originally Published On: http://www.articlesnatch.com


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