- They have access to the Broker's Listing Cooperating (BLC) which allows them to search for available homes that meet your criteria.
- They will handle the administrative details of scheduling showings for the homes you would like to see.
- They save you time by providing you with information about schools, neighborhoods, etc.
- When you find a home you think you might be interested in, they can use the BLC to find out the list prices of other homes for sale in the area as well as the sales prices of those that have recently sold. This can help you determine the fair market value of the home before you make an offer.
- They will guide you through the maze of offers and counteroffers, inspections and amendments-always looking out for your best interests. Their advice and insight in these areas can help you avoid potential pitfalls and may save you from costly errors. Your agent will know, for example, which items in the home need to be included in the purchase agreement; some items can be assumed to stay with the house while others must be specifically stipulated. If the inspection uncovers problems, your agent will help you negotiate changes with the seller. Most real estate agents will not tell you what to do, but their training, previous experiences, and professional contacts can help you make better, more informed decisions.
- They can help you find a reputable mortgage company.
- They will explain the closing process and all of the paperwork involved.
How Are REALTORS® Paid?
Real estate agents are paid on commission, generally a percentage of the selling price of the home. The commission for a particular transaction is established in the listing agreement between the seller and his/her agent. The commission is paid at closing. The selling agent's broker receives a portion of the commission, and the buying agent's broker receives the other part. Each agent's broker then pays him/her a portion of the commission.