When it comes to buying a home, how will you choose a real estate agent? A spin of the wheel of fortune is one common method – making phone calls to many different real estate companies that advertise in the newspaper or that you find online. Each time you dial a number, you get a different agent.
That may seem logical since each company has different homes for sale. But it also raises a question: "Do I need to work with many different companies and agents to see all the homes in which I have an interest?" Fortunately, the answer to that is a resounding "NO!"
Once you've decided to buy a home, your first step should be to carefully select a single real estate agent. That agent will be able to show you most, if not all, of the homes currently "For Sale" in your area, no matter which real estate company has them listed.
By taking the time to select an agent who will listen to your housing needs, and then actively work with you to fill them, you can eliminate many hours of fruitless searching. Working with only one agent allows you time to discuss financing, desired locations, home styles, schools, shopping, and the other factors that are important to you.
The more information you share with your agent, the sooner he or she can get a clear picture of the right home. The result will be a delightful choice of homes that could suit you and your family for years to come.
When it comes to buying a home, how will you choose a real estate agent? A spin of the wheel of fortune is one common method – making phone calls to many different real estate companies that advertise in the newspaper or that you find online. Each time you dial a number, you get a different agent. 
By taking the time to select an agent who will listen to your housing needs, and then actively work with you to fill them, you can eliminate many hours of fruitless searching. Working with only one agent allows you time to discuss financing, desired locations, home styles, schools, shopping, and the other factors that are important to you. 
Your article is interesting, but it doesn't seem to go far enough. I think many buyers get caught in a bind because they are not aware that once they go and see a house with the listing agent, they may loose their ability to have a buyer's agent represent them without having to pay an additional fee. Procuring cause is something the consumer is unaware of and it not fair to the unsupecting consumer. I think that Buyers should be able to choose an agent to represent them. There a just too many buyers that find themselves in a situation they never anticipated. This problem is even more prelevant due to the internet. Usually there is nothing to warn the consumer that if they want representation and the ability for their agent to participate in the coop fee, they should select a buyer's agent first!
ReplyDelete...Joan
Hi Joan,
ReplyDeleteThanks for your thoughtful comments. I do not know where you live, but in Massachusetts, for the most part, your concerns are addressed by law. Before showing property to anyone, Massachusetts agents are required to present and explain the Massachusetts Mandatory Licensee-Consumer Relationship Disclosure form. This form allows the buyer to choose representation, with the agent representing the seller, the buyer or acting as a facilitator (no representation). The agent is obligated to explain the differences as well as provide an explanation of Dual Agency (representation of both buyer AND seller in a transaction). So the buyer clearly knows up front that he/she has a choice.
It has been my experience that most buyers, like sellers, want representation in such a large financial transaction. And most serious buyers are opting for buyer representation and its benefits before going out to "look" at homes for sale.
Regards,
Jay