Understanding Who The Real
Estate Agent Is Working For
By: Duane Devalle
When Buying a Home, the first thing you
should do, even before you make your first call to a real estate agent, is
to fully understand the type of relationship you will have with the agent.
You need to know whether the agent is working for you as a client or merely
with you as a customer.
The real estate agent represents someone in the transaction. The question is
- "Who does the agent represent?" The North Carolina Real Estate Commission
has produced an informative brochure meant to protect consumers. The
"Working With Real Estate Agents Brochure" explains who a seller's agent,
dual agent, and buyer's agent represent in the transaction. Every real
estate agent is required by the North Carolina Real Estate Commission to
present and explain the brochure with those seeking the services of a real
estate agent.
When buying or selling a home, you need to know the real estate agency
representation to which you are agreeing to.
An agent who is working at a new home construction site is typically working
for and representing only the seller. Their loyalty belongs to the seller.
That agent is obligated to gather as much information as possible about you
in order to assist the seller in profiting from the transaction.
If you contact a real estate agent listed on a "For Sale" sign, they too
represent and serve the seller. That real estate agent will make every
effort to capture as large a profit as possible for the seller.
These real estate agents prior to showing you any property or home are
required by North Carolina Real Estate Law to discuss and explain the
"Working with Real Estate Agents Brochure".
As a buyer, under such circumstances, you are not represented. Only the
seller is represented. If a home buyer wishes to be represented, the home
buyer will seek a buyer's agent. In this case, you will seek a buyer's agent
and enter into a "Buyer Agency Agreement" with the real estate agent.
The services of a buyer's agent are often at no cost to the buyer. The real
estate agent agreement defines the compensation terms. The agreement should
clearly spell out who is compensating the buyer's agent. As a buyer, seek
agreements which state compensation will be paid by the seller only. Under
these circumstances, the real estate agent will serve you at no cost to you.
The seller's agent (firm) is glad to compensate the buyer's agent. After
all, the buyer's agent was largely responsible for the sale.
In summary, a buyer's agent provides you professional advice and counsel
throughout the entire purchasing process at no cost to you.
This article discusses who an agent is working for and the importance of
having a buyer's agent on your side when buying a home.
Duane Devalle provides you with frank appraisals of the current market and
ensures your interests are protected while your transaction stays on course.
You can count on Duane to have the patience to invest as much time as
necessary to make sure you are comfortable with every step of the process.
He will always complete your business at hand before he moves on to his next
client. Duane's first priority to you is the utmost skill, care and due
diligence.
When listing your home, Duane takes the approach of utilizing a
non-traditional commission structure to make every effort to maximize your
profit. Duane look's forward to discussing with you his fair commission
approach.
When buying a home learn how you will pay no commission.
http://www.ClaytonNCRealEstateAgent.com
http://www.RaleighNCRealEstateAgent.com
[Internet-Marketing-One.Com]
