It may possibly be your main edge in finding the correct home at the ideal price: a superior customer’s real estate agent at the side. However, what’s the big deal? You might simply snag a suitable SIlver Lake Buyers Agent or call the name to the sign of a house you’re considering.
The typical Silver Lake Real Estate Agent, however, isn’t necessarily bound to do the job in your very best interest. As with most commissioned salespeople, the dollars flow out of a deal. Any deal. But there’s another way: Finding an exclusive Silver Lake Buyer’s Agent.
What Are The Key Differences?
This isn’t to say that dealing with a regular Silver Lake Real Estate Agent can be a bad thing. In fact, that’s how a variety of individuals find a house. And real estate agents are subject to state laws regarding ethical practices. But there is a gap between a typical Silver Lake Real Estate Agent and an exclusive Silver Lake customer’s Agent.
Let us break it down:
A conventional Silver Lake Real Estate Agent often functions for a company that can symbolize each side of a deal. In fact, agents are eager to show listings kept with their firm initially. The fact is, they represent the seller, maybe not you.
A distinctive Silver Lake Buyer’s Agent often works for a company that does not even accept sellers’ listings. They have no incentive to show you particular properties, other than those that best suit your needs. That means the agent can also help you find homes that are available for sale by owner. A typical Silver Lake Real Estate Agent won’t do that.
What Should You Seek In A Silver Lake Buyer’s Agent?
The obvious qualities you’ll want in your rep are precisely what you’d want in any good business partnership: rapport, respect, and endurance. You can often receive a sense for that throughout the very first meeting or even two. Distinct conditions of the relationship are going to be recorded in the Silver Lake Buyer’s Agent contract.
Here are some terms to watch for:
- If a contract notes that you are getting into a dual agency agreement, that means the real estate agent and/or the firm the agent operates for can signify the client and the seller. Nevertheless illegal in some states, this remains quite common and can lead to conflicts of interest. This can be a stipulation at a Silver Lake Buyer’s Agent contract that you want to avoid.
- If the contract doesn’t establish that it is just a Silver Lake Buyer’s Agent agreement, you should assume that the agent is likely to soon be a seller’s representative — not yours.
- You are trying to sign an exclusive buyer agency agreement. It’s going to detail all the stipulations of one’s representative’s engagement: compensation, services and the length of the agreement.
- You may fall upon a designated agency agreement. This may be employed when a real estate brokerage business has 1 agent employed in the buyer’s best interest, while another agent of the same firm may be working in the seller’s interest.
- By signing a designated agency agreement, the client (or seller) allows another Silver Lake Real Estate Agent with all the business, the ability to reflect another party within the transaction. Individuals who are designated agents owe fiduciary obligations for their respective clients (the client or the seller, but perhaps not both). This can do the job, however, it can become a tough situation.
- Remember, a Silver Lake Buyer’s Agent has a fiduciary responsibility to perform only in your finest interests. There should be language to that result in any written agreement.
Advantages Of Working With An Exclusive Buyer’s Agent
Having an exclusive Silver Lake Buyer’s Agent on your side means more than just helping you find a great home. Your Silver Lake Buyer’s Agent will also:
- Use knowledge and experience to help you navigate local market conditions
- Act as an advocate for the buyer during the entire home buying process
- Actively negotiate price and terms strictly on behalf of the buyer
- Prepare necessary forms and written offers
- Assist in procuring property inspections, as well as provide advice regarding necessary improvements and repairs
- Consult with the buyer about financing options
- Attend the loan closing to help address any last-minute details and questions
How Do I Find An Ideal Silver Lake Buyer’s Agent?
We highly suggest that you look for a Silver Lake Buyer’s Agent who is an Accredited Buyer Representative. ABR agents have met certain qualifications and have passed an exam administered by the Real Estate Buyer’s Agent Council; you can search them here. You can also search online for a buyer’s agent who is listed with the National Association of Exclusive Buyer Agents.
Some questions to ask a potential Silver Lake Buyer’s Agent:
- Do you accept sales listings? A Silver Lake Real Estate Agent who answers yes is not an exclusive buyer’s agent; conflicts of interest could arise.
- How familiar are you with the area/type of home I’m most interested in? Having an agent with experience in first-time homebuyer programs, or the neighborhoods you’re most interested in, can save a lot of time and effort.
- Is this your full-time job? If agents are working in real estate on the side, it may limit their availability — and they may have limited experience in the field.
- What credentials or certifications do you hold? Look for agents who are Accredited Buyer Representatives (ABR) or Certified Buyer Representatives(CBR).
- How will you be paid? Are there additional fees?
Additionally, our Silver Lake Buyer’s Agents suggest that you ask for contact information from at least three of a Silver Lake Real Estate Agent’s most recent clients. Seeing how satisfied these former buyers are with the communication and effectiveness of the agent can be especially helpful.