Can I use an agent for a new home?
Yes, however, buyers should be
aware of the differences between working with sales agents who are employed
by the developer or a traditional real estate agent.
Builders
commonly require that an outside agent be present the first time a
prospective buyer visits the site before commission is
discussed. At times when buyers use an advertisement to find the development
themselves first, builders can refuse to pay any commission regardless of how
helpful an agent may become later in the process. It is advisable to call the
development first and inquire about their policy on compensating real estate
agents.
How do I find a real estate
agent?
Getting a recommendation from a friend or work colleague is an
excellent way to find a good agent. You can call the managers of reputable real estate firms and ask
them for recommendations,as well. In any
case, whether you are a buyer or a seller, you should interview at least three
agents. A good agent typically works full-time and has
several years of experience. If you are a seller, you should expect to review a
comparative market analysis, which includes recent home sale prices in your
area, when you talk to a prospective agent.
What about a buyer's
agent?
In many states, it's now common for an agent to represent the
buyers exclusively in the transaction and be paid a commission by the seller.
How much does my real estate agent need to know?
Real estate agents
would say that the more you tell them, the better they can negotiate on your
behalf. However, the degree of trust you have with an agent may depend upon
their legal obligation. Agents working for buyers have three possible choices:
They can represent the buyer exclusively, called single-agency, represent the
seller exclusively, called sub-agency, or represent both the buyer and seller
in dual-agency. Some states require agents to disclose all possible
agency relationships before they enter into a residential real estate
transaction.