When you contact a Realtor in order to learn more about a home that you are interested in purchasing, you need to keep in mind that the Realtor’s primary responsibility may lie with the seller. While the Realtor’s code of ethics require the Realtor to do what is best for all parties involved, the seller is the one with whom the Realtor has an agreement.
Unless you have a written buyer-brokerage agreement with the Realtor, his or her responsibility to you is limited to:
*Helping you find real estate that meets your needs and budget
*Taking you on tours through available properties
*Assisting you in making an offer to purchase the property
Since the Realtor is working on behalf of the seller, he or she will also prescreen you in order to determine if you are financially qualified to purchase the homes you are interested in looking at.
If you want to have a little more assistance from a Realtor, you should look into signing a buyer-brokerage agreement. If you sign one of these agreements, the Realtor will provide all of the same services, but will also help to negotiate process and terms on your behalf. In addition to negotiating prices and terms, the Realtor will also prepare the standard real estate purchase contract and will act as a fiduciary to you.
If you are interested in hiring a Realtor to represent you, you can generally go to any real estate agency in order to find one that is willing to work with you. You might also choose to work with a Realtor that specializes in assisting buyers with finding the perfect home. Realtors that specialize in representing buyers do not take listings from sellers. Rather, they utilize MLS listings and other methods to help buyers find the property that meets their needs and budgetary restrictions.
If you do not choose to work with a Realtor that specializes in assisting buyers, you should be certain to work with a Realtor rather than a real estate agent. A Realtor is an agent or broker that is a member of the National Association of Realtors. As such, the Realtor has voluntarily agreed to abide by the National Association of Realtors’ code of ethics, which involves treating both buyers and sellers fairly. Look for the (R) symbol to verify that the agent is a Realtor and take comfort in knowing that you will be treated fairly.
Ryan Lynch is part of the top notch marketing team for a real estate brokerage that specializes in Northwest Austin real estate http://www.jimolenbush.com/ and neighborhoods such as Spicewood at Bull Creek http://www.jimolenbush.com/spicewood-bull-creek.htm in the northwest Austin, Texas area.
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