Thursday, April 27, 2017
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Who represents whom in the home-buying process

Real Estate Office Your purchase offer looks good to the sellers. They are ready to accept it, but you are using a buyer's agent (also called buyer's broker). You know that sellers pay their agent, but what about yours?
  • What is a buyers agent?

  • A buyer's agent is retained by a buyer to look out for the buyer's interests and to negotiate the best price from the buyer's point of view. Just as the agent who lists the seller's home owes the seller complete loyalty, the buyer's agent owes the buyer the same degree of loyalty.
  • Who pays the fee of the buyers agent?

  • Sellers generally indicate on the listing agreement whether the seller is willing to pay the buyer's agent. Most sellers choose to work with a broker who splits the commission with a buyer's agent even though that agent does not represent the seller's interests. This, of course, maximizes the number of potential buyers for the home. Because the listing broker is already prepared to share the commission with a seller's agent who produces a buyer, most sellers don't mind when their broker, instead, shares the commission with a buyer's agent.
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FIRST TIME How To Buy The Most Home For Your Money
QUALIFIED How Much House Can You Really Afford?
TIRE KICKING Secret Tests To Check A Property's Condition
LOCATION LOCATION: The Most Important Questions Every Buyer Should Ask
NEGOTIATE How To Buy The Home You Love At The Price You Want
SEARCH Quick Checklist For Finding The Perfect Home
INVEST YOUR RENT Why Pay Your Landlord's Mortgage?
MORE FOR LESS Six Tips For Getting The Best Loan
OPTIONS 10 Savvy Ways To Pay For A Home Today
SHELTER Six Little-Known Ways To Help Relatives Finance A Home
 
       
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