All of us want to save money on large-scale purchases, right? When it comes to purchasing property, a real estate agent’s help is a very welcome presence especially if it is your first time.
Working with Real Estate Agents is an advantageous addition to your purchasing process. Real estate agents can certainly be a big help to search for the perfect home that you want and help you to settle the best price as possible.
Having someone who is knowledgeable in the field can certainly work to your advantage in landing a deal that suits you and your budget.
Things To Know: Working with Real Estate Agents
However, there are rules and regulations that you need to remember to have a harmonious relationship with your real estate agent.
For a little help, listed below are five rules and tips for working with real estate agents.
#1. Hiring a Real Estate Agent
If you decide to purchase property, determine whether you don’t want to have a representation, or if you want to get a real estate agent.
If you choose to get one, then you need to evaluate different agents to be able to find the one who will work well with you.
Make sure to inform them that they are still at the interview stage. Also, avoid interviewing real estate agents from the very same agency.
#2. Commission Rates
Not all real estate agents work on a salary. Some agents only get a commission from you. However, they can only get it if he/she seals the deal. If not, he/she doesn’t get paid.
With this rule, real estate agents got highly stimulated and driven to do excellent work for you. Remember that real estate agents are not working for free.
They are not public servants. Thus, don’t demand an agent to do the job for you if you plan to cut them out of the deal in the process. A real estate agent will always have his or her commission.
#3. Be Punctual
Being on time on your appointments is very important to keep the relationship with your agent at peace. Of course, no one likes to wait for hours, so be respectful of your agent’s time and avoid being late.
If you are late, let the agent know that you are running late and tell them what time you think you will arrive.
#4. Sign a Company Agreement
Legally, real estate agents need to provide buyers a company disclosure agreement. Know that disclosure agreements differ across various cities and municipalities. By authorizing one, you get a proof or evidence of receipt.
It is a disclosure agreement, not a negotiation with the agency. So read it carefully before signing one. The most common system of real estate representation is the single agency.
Meaning, the agent will only represent you, the buyer. These agents owe you trust and full commitment.
#5. Exercise Open House Decorum
Make sure to ask your real estate agent if it is possible for you to show up to open houses unaccompanied. Know that it is not proper in some places to go alone in open houses.
As such, you need to give your broker’s business card to the person managing the open house. Proclaiming that you have an agent representing you protects you and your interests.
Don’t ask the person hosting the open house about the seller’s interest and motivation. Just let your real estate agent do it for you.
Takeaway
Real estate agents can be very helpful and beneficial to the purchasing process, especially if you are a first-time property buyer.
When working with a real estate agent, you know some rules to keep your relationship harmonious and at peace.
Read the above guide to know what will work best for you and your agent. Yassi Parrish is an aspiring real estate agent.
She looks up to various real estate agency sites like Rose And Jones to know more about this field. When not working, Cynthia plays badminton with her friends.
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