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.