STEPS TO A SUCCESSFUL HOME PURCHASE...
Choose the right agent
Choosing the right agent can mean
the difference between getting the home you really want
and getting the home no one else wants.
Start your search by interviewing the
agent that you are considering working with. Choosing an
agent is a personal decision. The home buying process
can, at times, be very stressful. You will want to make
sure that you feel comfortable with your agent and
confident in his/her abilities. Some common questions
you might want to ask during the interview stage are:
1. Are you a full time real estate
agent?
(If they have another job, will it interfere with their
ability to help you when you need them? Will you have
their full attention?)
2. Are you a REALTOR?
(Did you know that not all real estate licensees are
REALTORS? REALTORS are voluntary members of the National
Association of REALTORS trade group and abide by their
strict code of ethics.)
3. How many years of experience do
you have?
(In some careers there is no substitute for experience
and the real estate industry is no exception. First time
buyer's will want to work with an agent with a least one
full year of experience.)
4. How many buyer's do you work with
at one time?
(You will want an agent who can give you as much time as
you need. You will want to be a priority. The only way
that can happen is if the agent limits the number of
clients he/she works with at one time.)
5. Who will you represent in my
transaction?
(This one is important! Representation should always be
discussed during the first significant meeting with the
agent.)
Representation
Whether you are a buyer or a seller, it
is crucial to understand who represents whom in a real
estate transaction. In Wisconsin, an agent can represent
either seller or buyer as a single agent, or both buyer
and seller (with written consent from both parties) as a
dual agent.
1. Buyer's agent:
A real estate agent who exclusively represents the
buyer's interests in a transaction and whose commission
is paid either by the buyer or through the seller or
listing broker at closing. You may choose to work with a
buyer's agent, who agrees in writing to represent only
you. Be sure to clarify who your agent is
representing in the transaction before you divulge
important information.
2. Seller's agent:
Be aware that "your" agent may legally be a
subagent of the seller and you do not have client
representation from your agent unless you sign a buyer's
agency contract.
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