Please enjoy the real estate tip included below and share with a friend or family member. If you have any questions about this tip - or any other tips you may have heard elsewhere - please ask! There is no obligation and you'll hear back quickly!
Real Estate Tip: Best Interests of the Buyer
Who represents the homebuyer in the transaction? The most common scenario is for homebuyers to purchase a home with the help of the seller's listing agent. In this case, known as "dual agent representation", the real estate agent assists both the sellers and the buyers. However, it is also possible for the buyers to ask another realtor to represent their interests exclusively, acting as the "buyer's agent", a service which is available at no additional cost to the homebuyer.
Any licensed real estate agent can act as your buyer's agent, helping you to locate and look at properties in your price range. However, if that real estate agent works for the same brokerage that is listing a particular property, dual agency or designated agent rules will then apply. The buyer's agent will advise the buyer if issues arise such as termite damage or significant material defects appearing on the home inspection report. If the home appraisal comes in at less than the asking price, the agent will represent the buyer's interest, working with the seller and the lender to negotiate a satisfactory resolution.
Who represents the homebuyer in the transaction? The most common scenario is for homebuyers to purchase a home with the help of the seller's listing agent. In this case, known as "dual agent representation", the real estate agent assists both the sellers and the buyers. However, it is also possible for the buyers to ask another realtor to represent their interests exclusively, acting as the "buyer's agent", a service which is available at no additional cost to the homebuyer.
Any licensed real estate agent can act as your buyer's agent, helping you to locate and look at properties in your price range. However, if that real estate agent works for the same brokerage that is listing a particular property, dual agency or designated agent rules will then apply. The buyer's agent will advise the buyer if issues arise such as termite damage or significant material defects appearing on the home inspection report. If the home appraisal comes in at less than the asking price, the agent will represent the buyer's interest, working with the seller and the lender to negotiate a satisfactory resolution.
Look for the next Real Estate Tip and other info on our Real Estate blog: www.RealtorsShortHills.blogspot.com
See Jamie and Kim's Feature Properties: www.JamieSilverman.com/myhomes.asp
The Jamie Silverman and Kim Panes Team
Weichert Realtors - Short Hills Office
505 Millburn Avenue, Short Hills, NJ 07078
Office: 973-376-4545 ext. 100
Cell: 973-632-9913 email: sjjsilver@gmail.com
Website: www.JamieSilverman.com
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