| Honey, stop the car! It is a beautiful Sunday afternoon and that house with all the balloons blowing in the breeze and arrows pointing to it looks so attractive. Let’s go in and see what the decorating looks like. After all we have a Realtor; it won’t hurt anything just to look right? This is where most Buyers’ make their first big mistake. Once a Buyer walks into a home speaks with the Realtor with the open house that Buyer is presumed to be the client of the Realtor they are speaking too. It doesn’t matter if you have a Buyer Broker Agreement signed with another Agent. It doesn’t matter if you have been working with a different Realtor for months. In fact, should you fall in love with the house you’ve just walked into then decide to write a contract with the Agent that has the open house, you could owe two commissions. One commission to your Agent with the Buyer Broker agreement and a commission the new Agent writing the contract. You should also know that the Agent with the open house is representing the Seller.
What happens if your driving by a house and you decide to call the listing agent from the sign on the property to ask for the description and the price of the house? Again you are presumed to be the client of the Agent you are calling. There are many situations that can get very complicated very quickly when you venture off on your own with out your Agent.
Perhaps you are looking for a Historic home or a Luxury home. How would you know the background, reputation and experience of someone you have just met? You couldn’t know what the new Realtor expects of you or the manner in which they would work with you. Personalities as well as knowledge and experience are very important. After all, if you want to see Historic homes and you’re shown every listing that Agent find in your price range your- wasting your time.
Did you know that most –not all Agents that hold open houses are new Agents? That doesn’t mean anything negative, just that they are inexperienced new Agents. Many new Realtors work with a senior partner to over come this difficulty and to gain experience.
It’s a little scary out there, what’s a person to do? Talk in depth with the Agent of your choice to see if you are compatible. Don’t be afraid to sign a Buyer Broker Agreement. The agreement can be valid for $1.00 paid to the Agent your signing with. The Seller normally pays for your agent to find a Buyer for their property. Some Buyer Agents insist on the Buyer paying an hourly rate to see homes. That is your choice. I recommend that you let the Seller pay your Agent except for the $1.00 you pay to make the agreement valid.
Many Agents specialize in the certain types of homes, such as Starter Homes, First Time Home Buyer’s, Historic homes, and Luxury homes, Condo’s, Town Homes and New Homes. Which does your Agent specialize in?
Many Agents only work in certain counties, other cover wide areas such as Washington County, Frederick County, Montgomery County, Howard and Baltimore Counties. The longer your Agent has been a Realtor the more areas they have serviced. Don’t be afraid to ask. The more questions the better the understanding between you and your Realtor. You will have a better experience working with your Realtor if you choose the right one and be loyal to that relationship. A good Realtor will protect and guide you through a stressful complicated process. Realtors know their work is all about loyalty, relationships. Real Estate is a lifestyle not just a profession. Your Agent should really enjoy it!
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