What buyer's agents do: When you go to an open house and meet a real estate agent showing the property, that agent represents the seller's interests. So you might be better off using a buyer's agent whose job is to represent your interests. In addition to showing you homes that meet your criteria, a buyer's agent can help you negotiate a contract and may help you get a better deal on title insurance.
Ensure your interests come first: A buyer's agent typically shares the sales commission with the seller's agent. So keep in mind your agent may want to push some houses over others if they offer a higher commission or bonus on top of the commission to get a deal done. That's why Tom Early, spokesman for the National Association of Exclusive Buyer Agents, told Money Magazine that buyers should ask their agents to sign a contract before looking at houses that stipulates that any bonus being paid by a seller be used to pay closing costs. (Here are other ways to make sure you get the best house for the best price.)
Where to find one: To find a buyer's agent in your area, check with the National Association of Exclusive Buyer Agents.
Find a good buyer's agent
| The good news: Rocky real estate markets mean home shoppers finally have the upper hand. (more) National Association of Realtors cuts 2007 forecast; would mark first drop since it began tracking values in 1968. (more) Wondering how home prices got so high - and why they now have to fall? Here’s the story of what hit you: an amorality play in four acts. Money Magazine reports. (more) |
