independently with the listing agent, whereby [in most cases] negates sellers' contributions toward commission to be paid to their agent if they choose to get representation after viewing. I am here to tell you that it is highly recommended that you have representation in one of the largest, if not the largest, purchases you will ever make. In contrast, buyer's agents traditionally work on commission, as outlined in the listing agreement. However, evolving regulations now allow for more varied compensation structures. When a buyer's agent represents a buyer, the commission structure may involve a split with the listing agent, direct payment from the buyer, or other negotiated arrangements.
HOW TO CHOOSE THE BEST AGENT FOR YOUR NEEDS UR NEEDS
You might feel the urge to pick the first real estate agent who appeals to or approaches you, but that’s something to avoid. As with any professional, there are degrees of professionalism, dedication, and experience. The “wow factor” will simply wear off. Meet with prospective buyer's agents. A good buyer’s agent will want to know whether you’re pre-approved for a loan by a lender, what kind, and the terms of the loan you’re getting. They should spend adequate time discovering what you’re looking for in a house. They should listen as much as talk and ask questions. Watch to see if the agent makes notes. If the agent doesn’t broach the topic, ask for an explanation of his understanding of agency relationships and obligations to you. The law requires agents to explain whether they’ll work for the buyer or the seller whenever they have substantive contact with a customer or prospective client, called an IABS [Information About Brokerage Services]. If the agent doesn’t offer you a buyer’s
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