Buying Your Home – Working With A Realtor
Can I Use an Agent for a New Home?
Yes, buyers can use a real estate agent when purchasing new construction. However, working with a realtor during a new home purchase can be slightly different from buying an existing home.
Builders often employ their own sales representatives who work directly for the developer. Because of this, buyers should understand how commissions work before visiting a development.
Many builders require your agent to accompany you on the first visit and register with you. If you visit the model home alone first, the builder may refuse to pay your agent a commission later.
For that reason, it is smart to contact the development before visiting and ask about their policy for working with outside real estate agents.
How Do You Start Working With a Realtor?
Recommendations from friends, coworkers, or family members are often one of the best ways to find a reliable agent. Ask about their experience and whether they would choose the same agent again.
You can also contact established real estate firms and ask the office manager to recommend agents who regularly work in your target neighborhoods.
Whether you are buying or selling, it helps to interview at least three agents before making a decision. This allows you to compare experience, communication style, and local market knowledge.
You can also review consumer resources from the National Association of Realtors to better understand how real estate professionals work in a transaction.
What About a Buyer’s Agent?
In many states, buyers can work with an agent who represents their interests exclusively during the transaction. This professional is known as a buyer’s agent.
Often the seller still pays the commission for both agents through the proceeds of the sale. Because of this, buyers frequently receive representation without paying directly for the service.
Some buyers prefer to hire their own representation. These professionals are often referred to as buyer’s brokers and work strictly in the buyer’s interest throughout the purchase.
Many buyers find that working with a realtor helps them navigate negotiations, contracts, and the overall home buying process.
How Do You Find a Good Agent?
Finding a good agent often begins with recommendations from people you trust. However, researching agents with experience in your specific area is also important.
A strong agent typically works full time and has several years of experience. Sellers should also expect the agent to present a comparative market analysis that reviews recent home sales in the neighborhood.
The best choice is not always the agent who suggests the highest price for your home. Instead, evaluate their marketing strategy, communication style, and how comfortable you feel working with them.
How Much Does My Real Estate Agent Need to Know?
Real estate agents often say the more they understand about your goals, the better they can represent you during negotiations. However, how much you share may depend on the type of agency relationship involved in the transaction.
Agents generally operate under three different structures.
Single agency means the agent represents only the buyer or only the seller.
Sub-agency means the agent assists the buyer but technically represents the seller.
Dual agency occurs when the same brokerage represents both the buyer and seller in the same transaction.
Because of the potential conflict of interest, dual agents cannot disclose certain negotiating details without written permission from both parties.
