Below are lists of considerations you should review before purchasing real estate through a Realtor®.
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A qualified real estate agent will assist you in evaluating your purchase options as well as locating all the available homes that meet your criteria and needs.
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Here are a few things to consider before working with a real estate agent to purchase your next home:
New England, real estate agents traditionally represent the Seller instead of the Buyer.
You should specifically ask any real estate agent showing you property who they represent. Don't assume that the real estate agent showing you property represents you unless they specifically provide you with an exclusive buyer agency agreement for you to read and sign.
New England requires that real estate agents provide you with a written "Agency Disclosure" for you to read and sign acknowledging who the agent represents.
The terms "Disclosed Dual Agent" means that the real estate agency may represent both the buyer and seller in the same transaction.
Ask Realtors® for references prior to hiring them to represent you. An experienced agent should be able to provide you with ample satisfied references.
How to Choose a Real Estate Agent Who Will Represent You
HomeSnap.com™ recommends that you interview a real estate agent before you start working exclusively with any agent. Although all real estate agents must be fair and honest to home buyers, you may want to hire an agent to work exclusively for your interests instead of the seller. Agents who sign a contract to work for you are known as Buyer Agents.
Ask the following questions:
Are you going to represent my interests or the Seller's?
How are your fees structures? Can I have that information in writing?
What geographical areas are you most knowledgeable about?
What experience have you had as an agent? Do you have any special knowledge or credentials that would benefit me (eg. first-time homebuyer programs or training as a buyer's agent)?
Do you have full access to the area Multiple Listing Service (MLS)?
Do you have access for For Sale by Owner (FSBO) and foreclosed properties?
How many homes are you prepared to show me?
Do you also list houses for sale?
Will you sign a guarantee that you represent my interests exclusively and not attempt to sell houses you list?
Do you or your firm ever represent Sellers, and if so, how might that affect my relationship with you as my agent?
Does your firm ever practice Disclosed Dual Agency, and if so, does that present any conflict of interest?
Will you make decisions about what homes to show me without regard to co-fees offered to cooperating agents on MLS listings?
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