Featured News 2014 What to Know About Your Real Estate Agent

What to Know About Your Real Estate Agent

One of the best things a person can do when buying a house is to make sure that they have a trusted real estate agent. The purpose of a real estate agent is to consult with a homebuyer over the value of their property, negotiate prices in the best interest of the buyer, and walk homebuyers through every step of the deal.

Why is a real estate agent an asset to a home purchase?

When purchasing a home, a real estate agent can work with attorneys and mortgage lenders to create an excellent home buying experience. But when a real estate agent does not properly do their job, unexpected legal fees and high mortgage payments may occur.

Before hiring a real estate agent, ask these questions:

  • How long have you been licensed to sell real estate?
  • Are you a full-time agent or do you also work elsewhere?
  • Do you work individually or with a team?
  • What does the sale process look like?
  • How do you keep in contact with clients as a sale progresses?
  • What places besides the internet do you get your information?
  • Can you provide references of your work?

Having a familiarity of how an agent operates can be a advantage to the buyer-broker relationship. The real estate agent will educate the buyer about the market while simultaneously ensuring that the buyer obtains the best price for their investment. Gaining confidence with how the agent operates can ease the home buying steps.

Do real estate agents have legal power?

While a real estate agent has no legal power, agents can help assist with borderline legal components. If these are not done correctly, there can be serious legal consequences. There is the danger of a real estate agent improperly providing legal advice that does not hold up in court. Since the home buying process can be a stressful whirlwind, finding out if the agent is trustworthy can avoid legal complications.

In some states, a real estate attorney will be required in order to prepare the purchase documents for the home and close the deal. For states that do not require an attorney, it will be the full responsibility of the agent to correctly prepare the documents.

Buying a home is a huge investment. For any concerns in the home buying process, a trusted real estate attorney should be consulted right away.

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