Chapter 3 - Getting An Agent

Chapter 3 - Getting An Agent

If you are going to buy a house, you have two choices. The first is that you can ride around neighborhoods that you like and look for “for sale” signs. Then you can call the agent that has listed the home and ask to see the home. The agent will be thrilled to show you the property as he or she represents the seller and will get full commission if you decide to purchase the home. This can work well in your favor as you can offer less based on that premise. This is because most agents make a deal with the seller that if they sell the home themselves, they get less commission.

In addition to possibly getting a better deal on the home, the plus side to doing it this way is that you get to see the outside of the home and the area in which the home lies.

The negative aspect of this way of doing things is that gasoline is expensive and you can spend a lot of time looking at homes that already have contracts on them. The “sold” sign does not usually go up until a few days before closing, if at all. Agents want you to call on the home so that they can sell you something else.

Another negative aspect of this way of looking for a home is that some people do not want “for sale” signs going up in the yard. Some people are very odd about their neighbors “questioning” them about the price of the home (even though this is easy to gain access to and the sale price is actually public knowledge). It also sometimes takes the agent a few days to put the sign on the lawn. You are actually missing out on the newest properties.

When choosing a real estate agent as a buyer, choose one that you like and who will be ready to show you a house at a moment’s notice. You can have more than one agent looking for you, too. You are under no obligation to the real estate agent as a buyer.

You may think that, because you chose the agent and that he or she is so friendly to you, taking you to see all these homes and acting like your best friend, that they work for you. Wrong. They work for the seller. Your real estate agent does not have your best interest at heart - they are in this to make money. This is their job and they don’t get any money unless they sell a house. They get a commission off of the sale of the home so it is in their best interest that you pay as much as possible for the home.

Pick a nice real estate agent who is available, but do your own homework on properties. Do not rely on the agent to “find the best deal” for you. Again, they want to get a real estate commission.