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| When buying a home, there are a few things to keep in mind: |
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| Do NOT visit properties without your agent ! |
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In real estate, generally, the seller hires a
broker to sell their property and represent them
in the transaction. The seller's broker
then offers a "finder's fee" to Buyer's Agents
who represent the buyer of that property.
If you visit a new construction site, a model
home, or an open house without your Buyer's
Agent, you automatically become a client of the
seller's agent (dual agency is still legal in
Pennsylvania). From that point, you will
need to hire either an agent or an attorney for
impartial representation.
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| Do NOT Call the Agent on the Sign ! |
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The agent whose name is on the "For Sale"
sign is the representative of the seller. His
responsibility is to present the property in the
best light and to attain for the seller the
highest price possible.
If you call that agent, or, worse, if you see
that house with that agent, you will not be able
to purchase that property with impartial
representation without hiring either an agent or
an attorney.
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| Beware of the the Buyers Agency Agreement ! |
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Often titled "Business Relationship Between
Broker and Buyer", this document creates an
agency relationship between the buyers and the
agent that they select to represent them.
This is both a good thing and a bad thing: A
good thing because it allows us to give you the
rebates (without such a signed contract, the
Real Estate Commission rules prohibit such
payments); a bad thing because it obligates the
buyers to use only that agent for (often) a long
period of time, and to pay that agent even if
the buyers purchase a home without the agent.
At EveryHome, we do not ask you to sign such a
document until you are comfortable with us and
have decided on a home to purchase. Our
agreement only obligates you to us for homes we
have showed you, and the agreement can be
cancelled at any time.
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