When you sell a home today you will probably hire an experienced real estate agent to represent you and sell your home for the best price. What many people don’t realize is that they should have the same representation when they are buying a home. Selecting a buyer agent is a very important part of the home buying process. With real estate listings available with the touch of a button people often feel they can easily navigate the home buying process on their own.
It is important to understand what a buyer agent in NH does for you.
Real Estate agents in New Hampshire can choose to be a buyer’s agent, seller’s agent, sub-agent or a disclosed dual agent. You need to understand the different roles, and how they you will be represented in each situation. Each type of representation is outlined in the brokerage disclosure form.
Buyer Agency – A buyer agent works on behalf of the buyer and they represent the buyer’s best interest in the real estate transaction.
Seller Agency – A seller agent works on behalf of the seller and represents the best interests of the seller in the real estate transaction.
Sub Agency – A sub agent works for one firm while engaged with the principal broker of another firm on behalf of their client. A sub agent does not have a relationship with the customer. Sub agency is not very common.
Dual Agency – A dual agent represents both the buyer and the seller. They cannot advocate on one over another which means they cannot disclose the maximum the buyer will pay to the seller and similarly they cannot tell the buyer the lowest price the seller is willing to accept.
From negotiating price to navigating the inspection period a buyer agent is able to provide their expertise with the intention of getting you the best price on the home you are buying. They will pull comparable properties to help determine home value and they can recommend professional inspectors to go through the house and provide an opinion on condition and any potential issues.
When a buyer agent is involved you can relax with the understanding that there is someone representing your best interests during your purchase. There is nothing to prevent you from touring a home without your own representation however the seller has their agent working for them and you should have the same opportunity.
The most important thing to note about a buyer agent is that you can sign with one without any cost to you. A buyer agent is paid a portion of the commission when the home is sold. The commission is used to pay both the buyer and seller agent. The more you know about the support provided by a buyer agent the easier the decision is to find one you trust. If you are looking for a buyer agent ask around. The best way to find an agent is to get a referral from a former customer.
Your buyer agent will ask you if you’ve worked with a lender to obtain a pre qualification letter. Your agent will know that this letter will be required before you can make an offer on a home. Contact Title Mortgage today to get started on your mortgage pre qualification.