Once you feel convinced the
agent can do a good job representing you, you need to decide what kind
of contractual relationship you will have. It used to be that agents
always 'represented' the seller of the home. Nowadays, things are much
different and you can choose what kind of relationship you will have
with your real estate agent:
Buyer's Agent:
This is clearly the best choice if you are buying a house. The
buyer's agent works only for the buyer and is bound to represent
you above all other interests.
Seller's Agent:
The seller's agent works only for the seller of the home. This
means that they essentially look out for the seller's interest -
and not yours.
Disclosed Dual Agent:
In this type of arrangement, the agent works for both the buyer
AND the seller. This often happens when an agent sells a property
they have also listed for sale. The problem here is obvious. The
agent is serving two masters and can not put the interest of one
above the interests of another. As a home buyer, you're better off
working with an agent that is bound to look out for only you.
One mistake many inexperienced home
buyers make is to call real estate offices based only on a sign in the
front yard of an advertised property. What they often don't realize is
that whichever agent shows them that house, becomes their agent for
the sale. Cold calling a group of real estate offices is a lousy way
to select the professional who will help you through the biggest
purchase of your life.
Selecting the agent first -- based upon the
agent's experience, reputation and your personal comfort level is the
best way to be certain your agent truly "represents" you!
Back to the Real
Estate Library
This article was
provided byThomas Kraeutler (888)-INSPECT, and Meredith Brennan (908)
280-2865
Thomas Kraeutler is a
professional home inspector and President of HomeChek of New Jersey,
Inc. He is a former building contractor and industrial arts educator
with nearly 15 years experience in all facets of home repair,
maintenance and safety. Mr. Kraeutler is host of News 12 NJ's "Your
House" and 104.9 FM's listener call in show also called "HomeChek",
which provides expert, impartial advice on home safety, home repair and
maintenance in a fun and informative way. Questions or comments can be
directed to . |
