A good real estate agent knows your target neighborhoods. He or she can:
Find a house that meets your needs.
Tell you what the house is worth.
Recommend mortgage brokers and home inspectors.
Coordinate the closing.
Help in negotiating an acceptable price.
Get the most out of your agent by making an effort to understand the agent's world. Agents work hard to make a living and they don't get a dime until a home is sold:
They can't afford to spend time with people who just love looking at homes.
They need clients who are ready and able to buy.
Clients who know what they want get the best service.
Clients with pre-approved mortgage loans get special attention.
The best real estate agents:
Specialize - they restrict themselves by neighborhood and type of property.
Are good teachers: they explain the home-buying process step by step.
Are full time agents with great professional contacts.
Local mortgage lenders
Property inspectors
Real estate lawyers
Title officers
Home insurance agents
Finding a good agent:
I found my first agent by responding to a newspaper ad for a three bedroom house near Emory university in Atlanta. The agent who placed the ad became a friend but knew little about real estate, ...this is the Russian Roulette method of choosing an agent.
Get referrals (you want to interview at least two good agents): Sources of referrals:
Anyone who has recently purchased a house in your target neighborhoods. Ask why they liked their agents.
People in related fields: ask your lawyer, tax accountant and insurance broker about real estate agents they know.
The agent who sold you your current house: she might know a top agent in your target neighborhood.
Your church, synagogue or mosque: ask members who have recently purchased a home.
Your employer or fellow employees who live in your target neighborhoods.
Not enough referrals?
Find agents on the Internet at HomeGainor Realtor.com
Historically, the only legal agreement is between the real estate broker and the seller:
The seller agrees to pay 6%-7% of the purchase price to the real estate broker.
The broker agrees to list the home in the local MLS* and sell the property for the highest price possible.
All broker and agent members of the local MLS are legally bound to get top dollar for the seller's property.
Bottom line: "Your" agent is required to get top dollar for the seller's property
Consumer protection:
California and a few other states have legislated "Buyer's Agents" who officially work for the buyer and have no legal obligation to the seller.
Unfortunately, these "buyer agents" are paid by the seller based on a percent of the purchase price.
Not to worry:
Audrie never met an agent who urged his or her clients to pay more than market price.
Agents are simply reluctant to press seller's to reduce their price.
Maintained by real estate associations in all fifty states, the Multiple Listing Service (MLS) is, by far, the largest list of homes for sale. All real estate brokers and the agents they employ are members of the local MLS.
Contract Package $14.20
Real estate forms & contracts to legally sell or buy a home. Download them in Microsoft Word format for Windows & Mac. Order now.
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Copyright Jan. 2006 by Audrie.com Corporation
Stone Mountain, Georgia Fax: 770-469-2180
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