Select one full-time,
experienced Realtor with whom you get along.
Armed with a legitimate pre-qualification letter,
you are ready to start working with one agent.
It is critical that your agent be highly accessible,
experienced, Internet savvy and, most important, someone with whom
you enjoy working.
If you find him to be a curmudgeon, your seller and
his agent might also, and that might work against you if there are
competing contracts for your dream home.
Not all real estate
agents are equal.
For example, not all real estate agents are
Realtors. Real estate agents are those who have obtained a real
estate license from their given state.
Only those licensed real estate agents who belong to
the National Association of Realtors can call themselves Realtors.(return)
Realtors are required to
adhere to a rigorous ethical code and practice standards.
This code is available at www.realtor.org.
Real estate agents work on a commission basis.
Commission is typically paid by the seller to his
listing agent, who then shares that commission with the selling
agent (often erroneously referred to as “your” agent, they are
frequently in fact seller’s sub-agents).
Commissions are fully negotiable.
Often home buyers and
sellers wonder why they should pay commissions when it is so easy
to find homes through the various Web sites that display all homes
listed by agents or even homes not listed with real estate agents,
such as FSBO.com.
The answer is quite simple: Locating the perfect
home is only the tip of the iceberg in the home-buying process.
The best real estate agents will be able to scour
the Internet for existing homes that match your search parameters.
They will also have automated search capability that
will notify you whenever a new home meeting your needs is listed.(return)
Another valuable service
that real estate agents provide is completing and negotiating your
Today’s real estate transactions are extremely
Purchase price is just one of dozens of legally
binding terms upon which all parties must agree.
For example, the parties need to agree on
inspections, financing, appraisal or other contingencies.
All contracts involve multiple addenda,
certifications and federal, state, local and even
Where there are
condominium or homeowners associations involved, there are even
more disclosures and investigations to be conducted.
Even the savviest home buyer would be hard pressed
to assemble and track the 40-plus pages of legal documentation
that all parties need to sign.