In today’s market, it is easy to
purchase a really nice property at a fantastic price. There are many options
out there. A Seattle Washington
Real Estate Agent can help you find
the most suitable property and the one that is within your price range. There
are several foreclosed residences available on the market. These residences are
listed at cheap and affordable prices because the mortgage loan providers
simply want to generate revenue from these properties. To close in on the
perfect residence, a suitable realtor is very important.
The three types of Realtors:
In today’s world, due to
different types of requirements and different kinds of clients, one realtor is
not enough to handle all tasks. There are in fact three types of realtors that
provide almost the same service. All you have to do is choose the one that is
the most suitable for you. Each type basically represents a specific party in
the purchase of a property. They are listed below:
·
Seller’s
agent
As the name suggests, this agent
is representing the vendor or the seller of the property. His job is to make
sure that the vendor gets a lot of money from the buyer. The vendor or the
seller actually offers his agent a commission or a portion of the total money
made. With this in mind, it is in the best interest of the agent to get his
client a very profitable deal because he will make more money as well. The
listing agent is always the seller’s agent because they are more invested in
obtaining a good sale price.
·
Buyer’s
agent
Unlike the seller’s agent, the
buyer’s agent is more focused on the buyer and would want to save the buyer
maximum amount of money when purchasing the property. The buyer’s agent gets a
commission based on the sales price they get for the buyer so their goal is to
get an optimal sales price for their client. Generally, they make a good profit
when representing the buyer. In San
Francisco California, Real Estate Agent representing the buyer usually
charges approximately 4-6 percent commission for the work they do.
·
Dual
agent
A dual agent is someone who
presents both the seller and the buyer equally. Since they have to get a good
deal for them both, it can be somewhat of a challenge to get them to agree
jointly to something. This kind of a deal usually takes place when a person who
wants buy a house, hires a broker to find him a good deal on a property. The
broker then evaluates the buyer’s needs and budget and generates a list of
houses that they can buy.
In this situation, the realtor
does not really represent the client because to be fair, he cannot technically
represent either client. All he can do is mediate the negotiation between the
buyer and the seller and seal the deal between the two. He will even put in
appointments with the home inspections and discuss terms with the mortgage
company. Since he is not representing anyone, he cannot offer any advice on
pricing to either client.
This kind of an agency is a bit
risky for the agent, buyer and
seller. With such risk involved, you would do better to stay away from this
kind of service. It is better to hire your own agent to represent your side of
the transaction. In the end, whichever type of realtor you choose is entirely
up to you. There are some places where you can save money and before going
through any property related matter, it is better to know the types of realtor
services available.
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