he real estate agent,
unless specifically An agent, even if she is a
contracted as a buyer's seller's agent, can be a great
agent, is working for the seller. help when you are buying, but
Buyers usually know this, but remember that she is a
they don't think it matters, as sales-person, and you're not the
long as the agent is helpful. boss. Be careful what you say,
While true to an extent, buyers and be careful with anything she
don't realize that an agent has a says. You may want to work with a
real legal responsibility to, and buyer's agent. In that case the
loyalty to the best interests of agent can work for YOUR best
the seller. It is referred to as interests, but even here remember
a fiduciary responsibility, but that she will usually get paid
what does this mean? only when you buy something, so
her objectivity is suspect.
A Real Estate Agent Is A Spy
Some real estate agents work
Let's suppose you make an offer under "dual-agency" rules,
on a home, and mention that if meaning they're supposed to work
the seller says no, you'll for both the buyer's and seller's
probably offer $5,000 more. The interests. Of course, they only
sales agent now has an obligation get paid when a property is sold,
to tell the seller what you said. so they may be more helpful to
That's an expensive comment, the sellers. In any case, how can
isn't it? An agent may spend all someone really be on both sides
his time with you, showing you of a negotiation? It is probable
houses and helping you write they'll work harder for whoever
offers, but his allegiance is they like more. Do you want a
legally with the seller, unless popularity contest that can cost
he is hired by you. you thousands of dollars?
Things Real Estate Agents Won't Don't think real estate agents
Tell You are all experts. My first time
making an offer on a house, the
An agent will often let you agent didn't understand when I
assume things, to get the sale told him that I wanted to get a
closed. They'll tell you that the 90% first mortgage and have the
seller and buyer always split the seller carry a second for 5%, so
closing fee, for example, or let I could get in with only 5% down.
you assume it. They'll say they Many years into his career, he
can't change the commission after still had only dealt with
it has been set. They'll say you conventional deals.
have to write a big check for a
"good faith" deposit when you What do you look for in an agent
make an offer. when you are a buyer? Agents will
often be knowledgeable about a
I've seen realtors take $4,000 certain type of real estate, or a
off a commission to get a sale certain neighborhood, but know
closed at a lower price. I've little else. Just like other
seen the buyer or the seller pay professionals, they specialize,
the entire closing fee. Buyers so when you want to find a
sometimes put less than $1000 particular type of property, look
down as a deposit with an offer, through listings online until you
and sometimes nothing - agreeing find a real estate agent that
to deposit something when the already has several of that type
offer is accepted. Little is set listed.
in stone when it comes to real
estate.
About the Author:
Steve Gillman has invested in real estate for years. To learn more, get a free real estate investing course, and see a photo of a beautiful house he and his wife bought for $17,500, visit http://www.HousesUnderFiftyThousand.com
Read more articles by:
Steve Gillman
This article is distributed by: www.iSnare.com 
