Can I Trust My Real Estate Agent?
A real estate agent is generally the first and main contact for anyone who wants to either sell or purchase property. But the seemingly significant fees that a real estate agent often charges can make some buyers and sellers hesitate. Whether or not you can trust your real estate agent depends on a variety of factors -- but you should be aware that working with a real estate agent is almost always the preferred choice.
Why Is a Real Estate Agent Necessary for Buyers?
For a buyer, a real estate agent will be doing all the primary legwork of finding a property. The real estate agent will be coming through listings -- often through a proprietary system -- and trying to find the houses that match your needs. They will also be looking at local classifieds listings and interfacing with other professionals that they know.
Once a house has been found (and this may take some time), the real estate agent will identify any potential issues and will walk you through the process of purchasing the house. This can include arranging house inspections, finding homeowner's insurance, and getting a title and escrow company.
For a buyer, the price of a real estate agent is generally rolled into the seller's costs; there usually isn't any cost associated with working with a real estate agent.
Why Is a Real Estate Agent Necessary for Sellers?
For a seller, a real estate agent creates a sales listing and runs open houses. They find prospective buyers and show them the property, often without the seller having to attend the showings. The real estate agent determines the price point that the seller can list at and will be able to identify whether or not an offer is a good deal.
As offers do come in, the real estate agent will aid in negotiations. Once an offer has been accepted, the real estate agent will do much the same as they would for a buyer; they will walk the seller through the process and advise them on any potential roadblocks before they can become problematic.
Could a Real Estate Agent Affect My House's Price?
The largest concern most people have is that a real estate agent will unfairly alter the price of their home. Buyers worry that real estate agents could encourage them to p