Why do you need an agent when buying a house?
We know it sounds like a long game of telephone, but it’s necessary for a number of reasons. Namely, it means both buyer and seller have an agent looking out for their distinct interests, facilitating the deal.
Do you have to sign an exclusive contract with a real estate agent?
Ask about the difference between an Exclusive and Non-Exclusive Buyer’s Broker Agreement. If you’re not ready to sign with a buyer’s broker, do not ask that agent to show you homes. Otherwise, a procuring clause may pop up. Ask your agent if they will release you from the contract if you become dissatisfied. If they refuse, hire somebody else.
Is it wrong to call another buyer’s agent?
“Remember that buyer’s agents are only paid if they close a deal—they aren’t paid for their time,” Van Winkle says. As such, “it’s wrong to call another agent just because yours is unavailable or on vacation.” A mortgage pre-approval is a letter from a lender saying it will provide you with financing to buy a home up to a certain loan amount.
What’s the best way to work with a real estate agent?
Do not make an appointment with an agent and then forget to show up. If you are running late, call and let your agent know when you expect to arrive. Just show respect. Decide whether you want to work without representation, dealing directly with listing agents, or if you want to hire your own agent.
Can a real estate agent help both the buyer and the seller?
You cannot serve the best interests of both a buyer and a seller involved in the same transaction. The seller wants to sell for as much as possible, while the buyer wants to buy for as little as possible. Yet some agents will attempt to offer such a deal to clients because they can get a double commission from the sale.
How can a real estate agent deceive you?
Imagine for a moment that you are selling your home. The real estate agent gets a phone call from the pretty internet advertisement they are running. Mr. & Mrs. Jones want to see your home. If you allow dual agency, the agent YOU hired will no longer be representing your best interests.
Can a real estate agent be a neutral party?
If you allow dual agency, the agent YOU hired will no longer be representing your best interests. By allowing dual agency, YOUR agent will become a NEUTRAL party. Click To Tweet
Can a real estate agent help you with a counter offer?
When the buyer makes an offer, and you ask the agent you hired what you should counter offer at they cannot answer. Remember they don’t represent you anymore. They can’t by law give you any advice. When the home inspection happens and the buyer wants you to fix X, Y, and Z your agent also will no longer be able to help you with guidance.