Working
with a real estate agent
Buying a house is one of life’s most exciting and nerve
wracking adventures—especially if you are a first time
home buyer. There are so many things to think of, factors
to consider and issues to remember. A good place to start
is with your real estate agent, and choosing the right agent
can make all the difference in the world.
Sellers' Agents
In most cases, real estate agents are considered “seller’s
agents”. In this capacity they have an agreement with
the owner of the property you are interested in, and they
receive a commission of the home’s final sale price.
A seller's agent can help you find and purchase a property
and may provide some of the same services as a buyer's agent,
but obviously their loyalty lies with the sellers and not
with you. A seller's agent has a duty to get the best possible
deal for the seller, so always assume that any information
you give a seller's agent will be passed on to the seller.
Buyers' Agents
A buyer's agent’s primary objective is to get the
buyer lowest price possible on the home they want. A buyer's
agent tries to find you the best possible house for the
lowest possible price. Just like a seller's agent is prohibited
from giving away too much information to the buyer during
the sales process, your buyer's agent is prohibited from
doing anything that will hurt your chances of getting a
property for the lowest price possible.
A buyer's agent often handles many of the tasks required
to get to closing (such as inspections, helping you find
a lender, tracking the progress of the loan, working with
the closing attorney or agent).
Buyer’s agents are usually paid a portion of the
seller's commission fees at closing. However, a contract
may state you will pay the agent a fee if you purchase a
For Sale By Owner home.
Dual Agents
Sometimes you can end up with a dual agent. A dual agent
is a realtor who is working as a seller's agent for a particular
property and, should you become interested in the property,
serves as your buyer's agent as well.
