but is well worth it, and in most cases, is paid out of the fin al sale price rather than out of your own pocket. So yes, hire a real estate agent, but the right agent — someone who’s on your side and will guide you every step of the way toward homeownership and a satisfying and successful home-buying experience. First, let’s get the technical jargon out of the way. Who is a real Th e short answer is that a real estate agent is someone who is licensed and cert ifi ed to list and sell real estate, not limited to homes but including multi-family properties as well as commercial and industrial buildings. It’s also important to note that a real estate agent is not necessarily a Realtor®, who is a recognized member of the National Association of REALTORS® (NAR). So, while all Realtors® are real estate agents, not all agents are Realtors®. estate agent and what do they do? WHO IS A REAL ESTATE AGENT? Th e real estate agent who represents a buyer and works on their behalf to help them fin d and purchase a home is called a buyer’s agent (whereas seller’s agents, or listing agents, help people sell their homes). All “listing agents” represent sellers, but agents who don’t have what’s called buyer-agency agreements with potential buyers are technically working on behalf of the seller, even if they’re showing homes to those potential buyers. Th ey must work to negotiate the best possible price for the seller. Buyer’s agents work on commission, as detailed in their contracts and the listing agreement. When a buyer’s agent brings the buyer along, the listing agent must split the contracted commission with the buyer’s agent. 21
Powered by FlippingBook