Real Estate Agents Revealed

(Buying or selling (especially selling) a home in today’s market can be a stressful and confusing process. )

Whether you are a real estate pro or embarking on your first home buying or selling transaction, there is a lot to know and take in.

One of the most baffling parts about real estate in general is the ever-elusive real estate agent.

Many people find themselves wondering how to find a good agent, how agents are paid and other various questions along those lines.

A December 7, 2006 article by Elizabeth Weintraub of about.com, “Everything you wanted to know about working with agents,” discusses everything and anything someone wondering about agents would want to know.

“Chances are if you're thinking about buying or selling real estate, you are going to encounter a real estate agent along the way in some shape, form or matter. Wouldn't it be nice if you knew the inside scoop on agents? Like, how they work, how they affect you and your transaction, how they get paid, who pays them, and how in the world can they stay in business without answering their phone?”

Weintraub is an agent herself, so she realizes the importance of buyers and sellers being educated about the nuances of a real estate agent.

Many people do not even fully understand how an agent works, i.e. how they get paid and generate business.

“Because real estate agents can make or break your deal, you owe it yourself and to your financial future to understand how agents work.”

First things first; when looking for an agent, be sure that you get referrals from credible sources (friends, family, other real estate professionals), and interview at least three agents to be sure you find the right match.

After home sellers have found the right agent, many become confused on the issue of commission.

“Don't be embarrassed if you don't know how commissions work because I've had clients who didn't know, even though I had sold their home, represented them to buy a new home and then later listed that home for sale.”

“Real estate agents work for a real estate broker. All fees paid to a real estate agent pass through the broker. Only a real estate broker can pay a real estate commission and sign a listing agreement with a seller.”

Every agent and broker is different, so be sure to ask the agent you hire to see how the specifically work.

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