floor duty this morning and took a call from an interesting young lady. She is very intelligent and well-spoken, but the way she is going about purchasing her home is going to lead to bad feelings.
But it isn't her fault, she was doing what she thought she needed to do -- especially on their limited budget.
So, I'm going to pass along the same advice that I gave her this morning on how you should select a buyer's agent.
First, calling on signs is fine. But you have to understand what you are doing when you pick up the phone. By engaging in conversation with the selling agent, you are a customer for the agent and receive the basic required courtesies. However, you have to remember that the seller is that agent's client. And as a client, that agent owes a much stronger level of responsibility to that seller than to you as a buyer.
What does that mean?
Calling on signs will always put you at a disadvantage.
All listed properties have a seller's agent.
The seller's agent is of course going to be nice to you. They are hoping that if you don't become the buyer for this home, that they can become your buyer's agent.
So how do you find an agent?
As a new agent, the last thing I want to do is use the "r" word. But the best place to get deal is a referral from a friend, but be sure to find out why they are passing along the name. Is it because of how they worked with this agent? Or simply that they see this person's name all the time?
And once you get a couple of agent's names, then sit down and interview them. Find out how they are going to help you -- and if there is a good fit. Remember, buying a home is one of the most expensive decisions you will make. You need to trust this person is going to have your desires at heart.
But doesn't that cost me more money?
Nope. Not a dime. When the home was listed, there is a form on the listing agreement that dictates how much, if any, the selling broker will pay to the buying broker for bringing you to the transaction.
Now being totally honest, you will run into one situation where you will be asked about commission when you sign a purchase contract. And that is if you purchase a HUD home. In this case when you sign the purchase contract, you can allocate 1-5 percent of the purchase price to your buyer's agent. Understanding that the allocation will directly result in you paying more for the home.
Finally
The pay that you will give to a buyer's agent will be the same whether you call an agent before you go through your first house, or the day before you write the contract.
So get someone in your corner from the beginning -- and allow them to work for you. find this Houese selling agent
Address:-Realtor/Agent Tom Gilliam-RE/MAX Classic
29630 Orchard Lake Rd
Farmington Hills, MI 48334
But it isn't her fault, she was doing what she thought she needed to do -- especially on their limited budget.
So, I'm going to pass along the same advice that I gave her this morning on how you should select a buyer's agent.
First, calling on signs is fine. But you have to understand what you are doing when you pick up the phone. By engaging in conversation with the selling agent, you are a customer for the agent and receive the basic required courtesies. However, you have to remember that the seller is that agent's client. And as a client, that agent owes a much stronger level of responsibility to that seller than to you as a buyer.
What does that mean?
Calling on signs will always put you at a disadvantage.
All listed properties have a seller's agent.
The seller's agent is of course going to be nice to you. They are hoping that if you don't become the buyer for this home, that they can become your buyer's agent.
So how do you find an agent?
As a new agent, the last thing I want to do is use the "r" word. But the best place to get deal is a referral from a friend, but be sure to find out why they are passing along the name. Is it because of how they worked with this agent? Or simply that they see this person's name all the time?
And once you get a couple of agent's names, then sit down and interview them. Find out how they are going to help you -- and if there is a good fit. Remember, buying a home is one of the most expensive decisions you will make. You need to trust this person is going to have your desires at heart.
But doesn't that cost me more money?
Nope. Not a dime. When the home was listed, there is a form on the listing agreement that dictates how much, if any, the selling broker will pay to the buying broker for bringing you to the transaction.
Now being totally honest, you will run into one situation where you will be asked about commission when you sign a purchase contract. And that is if you purchase a HUD home. In this case when you sign the purchase contract, you can allocate 1-5 percent of the purchase price to your buyer's agent. Understanding that the allocation will directly result in you paying more for the home.
Finally
The pay that you will give to a buyer's agent will be the same whether you call an agent before you go through your first house, or the day before you write the contract.
So get someone in your corner from the beginning -- and allow them to work for you. find this Houese selling agent
Address:-Realtor/Agent Tom Gilliam-RE/MAX Classic
29630 Orchard Lake Rd
Farmington Hills, MI 48334
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