Seller brokers, buyer’s agents, dual agents, exclusive seller agents, discount agents – real estate agents come in many different forms. The articles, columns, radio shows, blog posts and videos here help you navigate the new and complex world of hiring a real estate agent.
A buyer is out a large sum of money due to fraud committed by a real estate agent. A complaint can be filed against the agent, but an attorney should really be used to go after this agent. It's though to know how to proceed against the agent without the help of a competent litigator.
How do you hire a real estate agent? You want to find someone who will be a partner in your home selling or buying effort. Ask the questions to make sure you are compatible with your real estate agent or broker, every step of the way.
Before you hire a real estate agent, make sure he or she has an active license to do business in your state. Most states require that the license is printed and displayed in the agent's office. You can also contact the state to verify the license.
In this column, Ilyce explains why home buyers and sellers should work with an experienced real estate agent. Home buyers and sellers should work with real estate agents with 10 or more years working in the housing market. Ilyce says experienced real estate agents have seen the real estate market turn several times and are better prepared to help home buyers and sellers with their real estate needs.
When you work with a real estate agent, he or she may promise you a certain fee schedule. What can you do if the real estate agent changes the fee schedule after your verbal agreement? You can call the agent's managing broker and the association of Realtors in your state.
While many agents do work exclusively on their agents behalf, there are too many situations where a buyer's agent also winds up representing the seller in a dual or non-agency relationship. By disclosing to the agent exactly how much a buyer likes a property, the buyer gives away some of his or her leverage. Not disclosing it to the agent protects the buyer from awkward no-agency or dual agency situations that may develop later.
A home seller has become unhappy with her listing agent and would like to cancel the listing contract. The contract doesn't state anything about cancellation and the listing agent refuses to accept the cancellation. Ilyce explains what options the home seller may have.
When you find a real estate agent you like you may decide to work with him or her several times. When a real estate agent works with you repeatedly he or she gets to know your real estate likes and dislikes. But watch out for unethical behavior from real estate agents who want repeat customers.
Changes in marketing real estate have changed the agent/client relationship. The Internet has made real estate a much more transparent business. You can see what other agents are offering, can view listings that are for sale, learn all about a prospective neighborhood, and look up your own crime statistics. Agents and brokers who believe they "deserve" clients for life don't understand that in today's economy, you have to earn your business every single time you deal with someone.
As you're looking for a real estate agent to sell your home you may interview some that will ask you questions about how much equity you have in your current home. While it is none of the business of the real estate agent, the agent may be seeking reassurance that she or he will receive their real estate commission upon selling your home. You can reassure the real estate agent without sharing how much equity you have in your home or providing other personal finance details.