When you want to buy or sell a house, you need to choose the right agent to help you. But when you don't know who does which service, it can be a bit frustrating. Here are some of the professionals you'll run across in the real estate field and how a selling agent can help you buy a new home.
The Different Types of Real Estate Professionals
A real estate agent who owns their own real estate company is called a broker. The work in the field of listing and selling homes is left to the real estate agents who work for a broker, so you may not have any interaction with a broker at all. The person putting their home on the market uses a listing agent who is also called the seller's agent. This is the person responsible for holding an open house and advertising the home.
When you're ready to buy a house, you contact a buyer's agent. This agent can show you homes listed by any agent and will work to help you find the ideal home. Since a buyer's agent is the one showing the home and submitting the bid for you, they are also known as the selling agent, which is different than the seller's agent.
The Duties of the Buyer's Agent
The buyer's agent, or selling agent, plays a big role in the real estate transaction of buying a new home. While you may spend a lot of time narrowing down your choices on internet listings created by listing agents, nothing beats touring a home in person along with your personal buyer's agent. Your real estate agent can even help you find homes not listed on internet sites. When your agent understands what you're looking for, it's quicker to find a suitable home in your price range. A buyer's agent works hard to find you a home you like since they don't get paid until the deal closes and they take out their commission.
In addition to helping you find a new home, the selling agent guides you through the complex paperwork and steps involved in actually buying the house. This involves having the inspection, doing the title search, and solving any disputes that come up. You never have to worry about the agent favoring the seller of the home since the agent has nothing to do with the seller and works for you instead.