In some states, there are different types of real estate agents, each with a different set of legal responsibilities in a real estate transaction. As a buyer, you may end up working with a seller's (or listing) agent, one who works for the seller of the home and whose commission is paid by the seller.
The size and nature of a real estate transaction requires an agent you can trust to act in your best interest. Finding the right agent can be a chore in itself. Consider asking friends and neighbors for recommendations, or use a service such as Most Referred® Real Estate Agents, to find agents that other agents would use. Before settling on an agent:
1. Talk to several agents before picking the one you want to work with.
2. Walk through your home with an agent to get a feel for how that person will handle prospective buyers.
3. Ask prospective agents how they plan to market your home.
4. Don’t sign with an agent just because he or she suggests the highest asking price.
5. Negotiate the broker’s commission prior to listing your home, and sign for a limited period of time, usually three to six months.
6. How many years have you been in the real estate business?
7. How long have you sold houses in this area?
8. How many houses did you sell last year?
9. What is your commission?
10. If I were to work with you, how would you market my house?
11. Please provide names and contact information for other families whose homes you have sold
Buyer's agents work for the house buyer
Or you may be able to find an exclusive buyer's agent to represent your interests in the transaction. To be represented by an exclusive buyer's agent, you must sign a contract.
Remember: you're agent has a fiducairy obligation to act in your best interest. They are there to represent you in the real estate transaction, and the value of their skills and experience should not be underestimated.
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