With the current status of the real estate market today, it is relatively easy to buy a great property at an incredible price. There are so many foreclosed homes that you are going to find and residences listed on rock bottom prices as the mortgage loan providers just want to get the revenue due to them. You’re certain to find the best deal on the market by taking advantage of the realtor’s service.
You may as well want to keep reading to be able to learn more how you are going to retain the services offered by a real estate agent.
In today’s modern housing world, you are going to find 3 different kinds of real estate agents and these are the seller’s agent, buyer’s agent and a dual agent which you will learn more below.
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Seller’s agent – getting the most money probable is the main function of such vendor. The agent will receive a cut from the final sales price and for that, it’s in their best interest to get optimal sales prices of the house or property. The listing agent is basically the seller’s agent because they’ve vested interest on how to get optimum sales price and having said that, they are representing the vendor always.
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Buyer’s agent – such real estate agent is hired by the buyer and endeavor to save them the highest money when buying a house. Such real estate agent gets a portion of the sales price and with that in mind, the buyer pays the agent a portion of the final price. This type of contract allows the buyer’s real estate agent to amass good amount of profit while representing the buyer. Most of the time, such agent is charging clients between 4 to 6 percent commission rate for the representation.
Dual agent – this agent is equally representing the buyer and the vendor. This type of business often takes place when the prospective homebuyer hires a broker as buyer’s agent and then, chose to place offer on house or property that the agent listed. This real estate agent isn’t representing either client.
Such real estate agent is not providing any guidance to either client and they work only to seal the deal. He or she is going to make appointments for house inspections and talk about the mortgage company but will not offer guidance in regards to the sales price.
In current real estate market, there are lots of money saving deals that you can find. It’s integral that you make yourself aware of the different types of agency that offers their service before you opt to hire a real estate professional.