Thinking about SELLING your home?
Want to hire a BUYERS Agent?
Wondering if you should hire an Agent? Wondering how an Agent is compensated?
In order to effectively market a property, have potential buyers screened for the ability to pay the purchase price or qualify for a loan, and to make sure that the deal gets steered safely through the myriad of details that can cause problems down the road if not properly handled, an owner should contact a licensed Real Estate Professional or "Agent". And for buyers, it is important that you have someone working with you and for you. I always tell my buyers " you don't know what you don't know". As an Agent, I want to give you, the buyer, the benefit of my experiences. I have been involved in hundreds of real estate transactions. I understand that there is an abundance of information available on the internet, from friends or family, or from previous homes a buyer may have purchased or sold years ago. That information has some value. But there is no greater value in knowing how to apply knowledge and knowing todays real estate market. By "going it alone" you are missing out on some keen insight and experience.
Keep reading for more reasons to work with an Agent of your own......
Buying and selling property is relatively complicated (not as cut and dried as, say, buying a car—and involves large amounts of money). The risks involved in making a real estate transaction without professional oversight might not justify the savings. Real estate transactions involve one of the biggest financial investments most people experience in their lifetime. Transactions today often exceed several hundred thousand dollars.
If you had a $200,000 income tax problem, would you attempt to deal with it without the help of a CPA? If you had a $200,000 legal question, would you deal with it without the help of an attorney? Considering the small upside cost and the large downside risk, why consider a deal in real estate without a Real Estate Professional? Party to party transactions (For Sale By Owners or FSBOs) are best reserved for people who have had plenty of experience buying and selling property, and who have the time and knowledge to do the marketing and to shepherd a deal through the closing process.
An Agent, who knows the market and current market conditions, is consulted to properly price, market, and stage a home. The seller and Agent sign a contract. That Agent becomes the LISTING Agent.
Most likely, both buyer and seller will each be dealing with an Agent of their own. Each Agent works under the supervision and management of a Broker/Owner, so you could have four entities involved in a single transaction: a listing agent , that agent’s Broker/Owner, a buyers agent and that agent’s Broker/Owner.
At the end of the transaction, all parties meet at the closing table. A portion of the proceeds the seller receives pays for the commissions of all parties involved. The amount is agreed upon when the Listing Agent and seller sign the contract. Knowing this amount at the time the seller lists the home, allows the seller to properly negotiate all offers received.
If you are the buyer, your agents compensation was written into the offer to purchase. Typically the seller agrees to compensate any agent brining the buyer to the table. This compensation is paid at the closing as described above. It is possible to have a Buyers Agent represent you and have the seller pay the compensation.
Contact Me, we can go over compensation for Agents based on your scenario.
The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non-commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein.