Home Buying in New York>Question Details

John  &…, Other/Just Looking in 10467

Who works for the buyer and who works for the seller in NY?

Asked by John & Leigh-Ann, 10467 Tue Mar 4, 2008

The person whose name is shown with the property listing works for the seller...so I need to go out and hire my own agent? Do I do this as I'm beginning my search or should I wait find an agent as I'm preparing to make an offer? What's the role of a buyer's agent? Other than negotiation at closing do they assist in my search?

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Dear John & Leigh-Ann in the Bronx..
Did you know that a listing agent represents the seller and works to get the most money for their home? They are not allowed to discuss price or comparable sales to any Buyer without representation. Don't put yourself on an island.

You too should have your own agent that represents your interests when buying. When you are ready to make a commitment, The SALES PRO TEAM will be ready. There are many advantages to procuring us as a Buyer’s Agent including:

• Receiving actual facts on the neighborhood so that you don’t pay too much.
• Getting quality information about lenders, rates and various mortgage programs.
• Having an agent loyal and devoted to your interests and can negotiate repairs and price.
• Preventing you from making a mistake when purchasing your home.
• Providing a smart, less stressful home-purchasing experience.
It is best to have a written contract with your agent in order to guarantee the best representation for you. All your wants and needs in a home will be clearly defined. Great results are often achieved through good planning. Now's the time to start your own little list of items or amenities that you must have and others that would be just a bonus.
Dual-agency is also possible in any Real Estate transaction. Every Realtor® must notify all parties in such a case.
Sincerely,

Charles Cinquemani & Maria Belmonte
(C) 917-405-7935 (C) 914-649-8261
Licensed Real Estate Salespersons
The SalesProTeam @ Prudential Centennial Realty
"Empowering Your Real Estate Decisions"
Web: http://www.SalesProTeam.com
EMail: Agents@SalesProTeam.com
0 votes Thank Flag Link Wed Feb 17, 2010
Agents can work for either the buyer or the seller. However, upon the first time you meet with them, they should disclose who they are working for and put it in writing. This is NY State law. Meet with several agents and stick with one you feel comfortable with. They should actively assist in your search and be prepared to assist you in determining your offers and negotiating for you. They should help you learn about the area and assist you in finding the right area and home for you. They should also be a great resource for other real estate professionals you will need to work with. You want your home purchase to go smoothly - a great agent will make that happen!
Best Wishes,
Laura Rusiecki
laura.rusiecki@prudentialrand.com
0 votes Thank Flag Link Fri Oct 17, 2008
Realtors must disclose for who they work for, the buyer or the seller. The listing agent is working for the seller. Realtors that are showing buyers these properties can be sellers agents, buyers agents, or dual agents. I like to think of it this way: if the seller has an agent working for them, then the buyer should have an agent working for them as well. Each realtor should work in the best interest of his or her client and hopefully everyone comes out a winner.
Buyers agents work for the buyer and they can provide you with their list of services. If the agent that you are working with is not working as your buyers agent, then they are working for the seller.
If you need additional assistance, I would be happy to help you. GOOD LUCK
0 votes Thank Flag Link Wed Oct 8, 2008
Hello John in the Bronx. The "how"a Realtor works depends entirely upon you. By NYS laws, you are entiltled to an explanation of the few ways an agent can work for/with you. Armed with that knowledge, you make an informed decision. Should you decide to go down the road of "hiring" an agent that works, and only works for you, then do that from the start. There is other function a buyer agent does for you.. That is the kind of expectations that should be upfront and noted before you sign.
0 votes Thank Flag Link Wed Mar 5, 2008
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