Buying Your Home - Working With a Real Estate Agent
Can I use an agent for a new home?
Yes, however buyers should be
aware of the differences inherent in working with sales agents who are employed
by the developer, rather than traditional real estate agents.
Builders
commonly require that an outside agent be present, and sign in, the first time a
prospective purchaser visits a site before payment of commission even 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 if you are using one.
How do you find a good
agent?
Getting a recommendation from a friend or work colleague is an
excellent way to find a good agent, whether you are a buyer or a seller. Be sure
to ask if they would use the agent again. You also can call the managers of
reputable real estate firms and ask them for recommendations of agents who have
worked in your neighborhood.
A good agent typically works full-time and has
several years of experience at minimum. If you are a buyer, you don't usually
pay for your agent's services (in the form of a commission, or percentage of the
sales price of the home). All agents in a transaction usually are paid by the
seller from the sales proceeds. But in some states, it's legal
for an agent to represent the buyers exclusively in the transaction and be paid
a commission by the sellers. If you are a
seller, you should interview at least three agents, all of whom should make a
sales presentation including a comparative market analysis of local home prices
in your area. The best choice isn't always the agent with the highest asking
price for your home. Be sure to evaluate all aspects of the agent's marketing
plan and how well you think you can work with the individual.
-
My Home Tracker
- Save your favorite homes
- Get new property alerts
- Share with friends and family
-
Home Values
Find and compare local neighborhood home values