Finding a real estate agent should begin around the same time you are looking to get pre-approved. It is important to have proper representation throughout the home buying process. Your agent will be known as the ‘Buyer’s Agent’ in the transaction. They are obligated to have your best interest throughout the transaction and will work on your behalf.
What does a buyer’s agent do for me?
- Learns and understands what you are looking for in a home
- Schedules and coordinates showings
- Writes, submits, and negotiates offers on your behalf
- Provides market knowledge and educates you throughout the entire home buying process
You can search for your agent by asking your friends, family or colleagues for referrals or visiting local open houses. Also, a simple google search for reviews would do. It is important to work with someone that you can trust. It is a good idea to speak with a few agents before deciding who to work with. You want your buyer’s agent to have knowledge of the industry, experience, proper communication, and have a good rapport working together. Real estate can often be a time-sensitive industry and it is important to have a responsive agent working on your behalf. You want to make sure your real estate agent is working under a real estate brokerage, has access to the MLS, and is a designated Realtor.
Do I have to pay my buyer’s agent? No! The buyer’s agent commission will be paid by the seller at closing. Typically the only charge is an administration fee that is to be paid to the brokerage. This can range from $200-$400 depending on the brokerage ($250 for JAMM Real Estate Company).
Once you have selected your agent, you are now able to move to the next step of touring homes!