Monday, January 18, 2021 / by Chelsea Vanderpool
How a Real Estate Agent Works for YOU!
The state of North Carolina requires a real estate agent to share with you how an agent can work for you. It's for your protection and understanding! Basically a well informed consumer is better protected then someone who doesn't know how real estate agents work.
It also lets you know how a real estate agent gets paid..
It also lets you know how a real estate agent gets paid..
Frankly, you don't really even care about how all agents work in North Carolina. You are more interested in how an agent will work for you.
Having a basic understanding of how they operate and how it applies to you is going to make you a more informed buyer in real estate.
No one likes the idea of being uninformed.
Since real estate laws, rules and forms can change, sometimes every other month, it is our duty and privilege to help you understand what these changes mean so that you can function most effectively to get your desired home.
You might ask why is this so important and so I'll tell you!...
If you go up to a home and talk with the agent with their name on the sign in the front of that home and tell them all the things you like and how soon you'd look to move and how much you love it and you like the neighborhood and and they're being very helpful and pleasant and you've told them what your budget is and how much you're willing to pay and are generally getting excited about buying this home....Do you know that it is that agents legal responsibility to tell their client - the homeowner - all of the things that you just shared. You have just shared all of your motives, your intentions, hopes and dreams! How do you think that will affect your negotiating posture?
This applies to every agent that you speak to including myself. It's important that you pick someone whom you trust and whom you think has the competence needed to represent your interests in the best way possible!
The role of a buyer agent is to serve you and only your interests. You can even designate that you only want exclusive buyer representation.
The person with their name on the sign in front of the house already has a contract with the homeowner and their legal agent responsibilities are exclusively for that person and for their benefit.
The person with their name on the sign in front of the house already has a contract with the homeowner and their legal agent responsibilities are exclusively for that person and for their benefit.
There is another kind of agency called dual agency where The agent is in a referee type of a role facilitating a transaction, instead of being in a counselor or in an advisory role.
And the other kind of agency is where both supplier side and the seller side are working for the seller. And that 1 is very unpopular you can see why.
It's important for buyers to know where they stand and who's working for them. If you hire one of us as your buyers agent, our obligations and responsibilities are towards you. And the funny way this business works is that most often and most of the time the seller agent is the one who pays the freight for the real estate services.
Please read the following brochure from the NC Real Estate Commission for more information HERE.
