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SVTPerformance's Chain of Restaurants
Road Side Pub
real estate agent question
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<blockquote data-quote="CobRoush-00" data-source="post: 13581395" data-attributes="member: 136732"><p>Agents may cost you a bit up front. But for the peace of mind, and ease of purchase relative to going solo, it is a worthy course of action hands down.</p></blockquote><p></p><p>Having an agent will probably cost you nothing out of pocket except for some cicumstances that I will explain.</p><p> </p><p></p><p> </p><p>Agree! A good agent will actually recommend that you hire a home inspector.</p><p> </p><p></p><p> </p><p>Not necessary true. The majority of the time your agent will be paid from the proceed of the sale but sometimes, no. </p><p> </p><p></p><p> </p><p>Definitely!</p><p> </p><p>To summarize: I truly recommend you hire an agent but one that will have your best interest in mind. Not all agents work for you. Most of the times they are also working for the seller even though they show you the house. Make sure you interview the agent and ask him to represent you in the purchase of that property.</p><p>You will then sign a contract and the agent we act as a Buyer Broker. Therefore he owes you a fiduciary duty and everything you confide in him must stay confidential and his job will be to get you the house at the best price as possible. Yes there is work ivolved from his part. That is why he will charge you a fee, usually 2%-3%. The good part is, most of the times, that fee is already covered by the seller because the listing agent negotiated those fees. However, sometimes, the listing agent negotiates only his fees or take a low fee to sell the house. For example, a listing agent takes 3% to market a house. He will probably give 1% to whoever brings the buyer and keeps 2% for himself or herself. Now let's say you have a buyer broker working for you, and charging you 2%, he or she will only get that 1% from the other side and you, the buyer will have to pay the difference (the other 1%). That's why it's not always true that the seller pays all the fees.</p><p>My advice to you: 1-Get an agent that represents you (buyer broker). 2-Negotiate your fees as well because a great agent will with you. 3-Have everything in writing. 4-Don't be afraid to fire your agent if you are not happy with his or her work.</p><p>Good luck getting your new home and if you have any specific questions, feel free to pm me. Just keep in ming Real Estate is definitely local meaning things are different from one state to others but the basic is the same.</p><p>[/QUOTE]</p>
[QUOTE="CobRoush-00, post: 13581395, member: 136732"] Agents may cost you a bit up front. But for the peace of mind, and ease of purchase relative to going solo, it is a worthy course of action hands down.[/QUOTE] Having an agent will probably cost you nothing out of pocket except for some cicumstances that I will explain. Agree! A good agent will actually recommend that you hire a home inspector. Not necessary true. The majority of the time your agent will be paid from the proceed of the sale but sometimes, no. Definitely! To summarize: I truly recommend you hire an agent but one that will have your best interest in mind. Not all agents work for you. Most of the times they are also working for the seller even though they show you the house. Make sure you interview the agent and ask him to represent you in the purchase of that property. You will then sign a contract and the agent we act as a Buyer Broker. Therefore he owes you a fiduciary duty and everything you confide in him must stay confidential and his job will be to get you the house at the best price as possible. Yes there is work ivolved from his part. That is why he will charge you a fee, usually 2%-3%. The good part is, most of the times, that fee is already covered by the seller because the listing agent negotiated those fees. However, sometimes, the listing agent negotiates only his fees or take a low fee to sell the house. For example, a listing agent takes 3% to market a house. He will probably give 1% to whoever brings the buyer and keeps 2% for himself or herself. Now let's say you have a buyer broker working for you, and charging you 2%, he or she will only get that 1% from the other side and you, the buyer will have to pay the difference (the other 1%). That's why it's not always true that the seller pays all the fees. My advice to you: 1-Get an agent that represents you (buyer broker). 2-Negotiate your fees as well because a great agent will with you. 3-Have everything in writing. 4-Don't be afraid to fire your agent if you are not happy with his or her work. Good luck getting your new home and if you have any specific questions, feel free to pm me. Just keep in ming Real Estate is definitely local meaning things are different from one state to others but the basic is the same. [/QUOTE]
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