When it comes time for you to buy a home, the odds are good you will be dealing with a real estate agent. Sometimes, there is a misunderstanding about what the agent will or will not do in an effort to help you. To make sure you know what to expect, be sure to talk with the agent before signing any agreements. Here are a few things you may need to discuss to ensure you are getting the service you are hoping for.
If you are working with an agent to buy a home, things will be handled a bit differently than if you were the one selling a home. You should look for an agent who strictly works with buyers. If you have already contacted a selling agent, and things seem to be going smooth, you still need to clarify a few things before signing any paperwork. Make sure the agent is giving you the information on properties he or she has not listed personally. In fact, unless the agent has a house listed that is exactly what you are looking for, you should ask him or her to show you other listings first. This way there will be no conflict when it comes time to make a deal between you and the seller.
You should also be prepared to have thereal estate agent do some type of pre-qualification before being shown any homes. An agent does not have the time to take you around to look at all kinds of houses, only to find out you do not have the finances to make a purchase. In addition, when it comes to making an offer on a house, be prepared to go to a lending institution to become qualified for a loan. However, you can talk with the agent about only looking at homes with owner financing or ones where the owner may be willing to hold a second mortgage. Be honest with the agent about your finances and things will go much smoother.
Remember, real estate agents are paid by commission. When you use a buyer's agent, you are cutting the commission in half, with the seller's agent receiving half, and your agent also receiving half. The seller's agent is going to try to push for a higher sale price, not only for the commissions but for the seller. You need to have an agent that will work with you to keep the price as low as possible, even if it means he or she receives less money for the deal. This is why you need to be honest with the agent. Do not make him or her show you homes you know you are not going to buy. Be considerate of his or her time, the more you are, the more the agent will be willing to go out on a limb for you and get you the home you really want.