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.