interested in making an offer on. It is an alcove studio and is a sponsor sale. Should I find an agent to represent me for the offer, closing, etc. Or should I work with the sellers agent. Will the sellers agent work hard for me, answer my questions, etc. Is it a crazy idea to bring an agent onboard after I have already found a place?
As mentioned, the sellers agent will be looking out for the best interests of the seller ONLY. For this reason, getting a buyers agent would make the most sense for you- you need accurate information in a market that is undergoing change, and the seller's agent is NOT permitted to disclose anything pertinent that will disadvantage the seller (outside of required property disclosure conditions). A buyers agent is required to operate with your best interests in mind- and as mentioned below, requesting in the offer that the seller pay the fee for the buyers agent is not unreasonable (particularly if the seller is paying a fee to an agent that brings a buyer in some other agency capacity). In that case, the fee is in the price that you're paying.
Discuss all of this with a buyers agent BEFORE you make a commitment to purchase. Sellers always have the right to refuse payment to a buyers agent if it is not offered in the listing; a good buyers agent will be able to navigate this for you, before having you commit to a fee.
Heather,
I would definatly contact a real estate agent and ask them to represent you! When you are buying a home you want someone looking out for you throughout the whole process..To often home buyers make this mistake. It is not a crazy idea at all to bring an agent onboard to represent you after you have already identified a property...As a matter of fact the same scenerio you are describing just happen to me last month. Buying a home is a major decision...you want someone looking out for your best interests.Ask a friend or family member for a referral of an agent or you can contact me and I can put you in contact with someone.
Bring on a Realtor to represent your interests. If you need a referral, let me know at Gail@GailGladstone.com and I will recommend someone. There's reasons there exist buyer reps.
The seller's agent has a duty to treat you fairly but will not help you with your offer or advise you. They will not disclose anything that would hurt the seller and will disclose any information you give. I would get my own BUYER'S agent.
Having your own agent means you have the best representation possible, someone who will look out for your interests, not the seller. As a first time buyer with no experience of the possible pitfalls, this is particularly important. You need to bring your own agent in BEFORE you present your offer, otherwise you will be responsible for paying your agent on top of the asking price. If the property you are interested in is on the MLS system (multi-listing system), then it may already include an offer of a commission for a Buyer's agent should you decide to hire one, or it may not include anything at all. Your agent can find out which it is and will discuss this aspect with you before presenting your offer. The offer can be presented with a contingency that requires the seller's agent to take care of your agent's fees.
It is always a good idea to have a realtor represent you and your interests. The sellers agent will be working for the seller only and all of their interests. By working with the seller agent you will not be a client you will be a customer buying a home that you found.
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