Why an Agent Is BeneficialReal estate agents are specially trained to walk clients through buying a home. They often live in or around the area where their offices are located, and are familiar with local attractions and amenities. Agents also have established relationships with area bankers, lenders and city officials. Your agent puts his or her experience to work for you by providing you the expertise needed to help you find the right home at the right price.
Types of Agents
There are a few different kinds of real estate agents.
- A real estate broker can be a person, firm or corporation. A broker is licensed to sell property for a fee or commission. Each agency or office is owned by a broker.
- Real estate salespersons, or agents, can’t act as a broker, but they are the ones you’ll work with the most. Agents show homes and draw up contracts for the broker.
- Buyer’s agents and seller’s agents work on behalf of the buyer and seller, respectively.
Qualities to Look for in an AgentSelecting an agent to represent you warrants careful consideration. Look for these attributes in your chosen agent.
- Ethical - Any agent who represents you should be willing to disclose any problems your potential purchase may have, as well as recuse themselves in the event of a conflict of interest.
- Competent - Your agent should have done the necessary legwork before you are ever shown a home; pre-inspecting properties, choosing homes that fit your price range and planning carefully are all good signs.
- Committed - Real estate agents who make a full-time living from their job are more likely to be invested in a satisfactory transaction than part-time agents.
- Professional - Your agent should have a minimum of three years of experience in residential real estate sales.
- Community-oriented - The agent you choose will have a much better idea of what the neighborhood or city is like if he or she is a local resident.