Finding a real estate agent can be a big headache. Often, this can be a more challenging task than actually picking a house. Some agents may only be interested in working for commissions and may not even have your best interests in mind. This is why it is important to find one who won’t let you go to the dogs. Everything starts with educating yourself on the different kinds of agents.
Kinds of Agents
Agents typically represent either buyers or sellers. To be exact, those that represent buyers are often called brokers. They work exclusively for the interests of the buyer and are not connected with seller listings. Once your broker is able to close a deal in your behalf, he is compensated with a commission. Compensation will depend on the agreement. Brokers may either be paid by the buyer or the seller’s agent.
A seller’s agent works the opposite way. He represents the interests of a seller and is often connected to companies that specialize in listing and finding buyers for properties. Naturally, seller agents are intent on closing deals for the seller so you should be careful about the kind of information that you share to seller agents.
A third kind of agent is a dual agent. He may represent both the seller and the buyer. It’s hard to determine exactly who a dual agent serves best. This is why it may not always be a good idea to settle on one. Many state laws however have specific legislation on what dual agents are allowed to do.
Picking an Agent
Knowledge about agent kinds alone will not be enough to help you find a good one. Regardless of the kind of agent, there are obvious differences in agent abilities and personalities. Your first point of consideration should be professional qualification. A real estate agent should obviously have a license. This is the first indication that he has passed the mandatory standards set by the state for his profession. He should also carry professional designations such as that from the Graduate Realtor Institute or similar institutes.
Actual experience matters a lot too. He should at least have had some considerable success at closing deals. Some industry experts suggest choosing agents who have been working successfully in their field for at least two to three years.
Some agents may be successful at what they do but they may not always know how to communicate with different types of people. You have to make sure that you are working with an agent who knows how to make you understand potentially confusing concepts and contract terms. Moreover, a good agent should always be able to communicate to the opposite side just what it is exactly that you want.
To be on the safe side, always ask for a contract. This should give exact details on an agent’s exact responsibilities to you. Do not sign a contract with terms that you don’t understand. If an agent can’t sufficiently explain what you don’t understand, you should trust your gut feeling and look for another agent.
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