Buyer Resources - Articles

Buying Your Home - Working With a Real Estate Agent

     

How do I find a real estate agent?
One of the best ways to find a real estate agent is to ask for a recommendation from friends or colleagues. Ask how well the agent returned calls, if the agent worked well with them, would they work with the agent again. It's best to have an agent that works full time in real estate. Also, if you are considering listing your home or land ask the agent for a comparative market analysis which shows similar sales in your area.

What about a buyer's agent?
A buyer's agent, such as Judy Bean, works only with buyers, whether they are first time buyers or experienced buyers. A buyer's agent's job is to help with the buying process from beginning, obtaining a home loan, to end. A buyer's agent should be able to explain different types of home loans, suggest different lenders, show clients listings, write purchase offers and walk the buyer through the home inspection. The main objective is to make the home buying process easy, as stress free as possible.

Judy Bean, ABR, Licensed R. E. Agent: 315-406-3880

How much does my real estate agent need to know?
Real estate agents would say that the more you tell them, the better they can negotiate on your behalf. However, the degree of trust you have with an agent may depend upon their legal obligation. Agency should always be discussed at first contact. Know up front who the agent is working for. Here is a summary of the three basic types:
* In a traditional relationship, a seller's agent has a fiduciary relationship to the seller. His main job is to sell the property. Be aware that the seller generally pays the commission of both brokers, the listing agent and the agent which writes an accepted purchase offer.
* Dual agency exists if two agents working for the same broker represent the buyer and seller in a transaction. A potential conflict of interest is created if the listing agent has advance knowledge of another buyer's offer. Therefore, the law states that a dual agent shall not disclose to the buyer that the seller will accept less than the list price, or disclose to the seller that the buyer will pay more than the offer price, without express written permission.

* A potential buyer can have a buyer's agent represent them in a purchase offer. Under this case, the buyers and their agent can speak in confidence. Judy Bean is an Accredited Buyer's Representative: 315-406-3880

In summary: always know who your agent is working for!

Roland Bean, Licensed Real Estate Broker: 315-730-3733

Roland H. Bean, Lic. R. E. Broker
Roland H. Bean, Lic. R. E. Broker
Judy Bean, ABR, Lic R E Agent
2481 Jugg Street Moravia NY 13118