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Facts about real estate agents that you should know

On Behalf of | Aug 15, 2022 | Real Estate |

Some people hire real estate agents with the wrong impression, which could result in an unsatisfying experience. You should know what their role actually is and how they can and can’t serve you before hiring them. With that said, working with a real estate agent is still preferable in New York. They could assist you in finding good deals and filling out the paperwork quickly.

They might work for both sides

Transactional real estate agents focus on making transactions happen. They try to help the buyer and seller come to an agreement. A real estate agent may represent both the buyer and seller in a transaction. It could speed up negotiations, but you might prefer your own real estate agent. You may find it easier to trust they will let you know of issues with the contract or property when they are only representing you.

They could exaggerate or underprice the home’s value

Many people make the mistake of thinking real estate agents give accurate estimates of a home’s value. You should turn to a real estate appraiser for a non-biased estimate of the home’s value. Some real estate agents exaggerate the price or give a slightly lower price when they are wanting to get business or make a quick sell.

Their service providers may not satisfy you

Some real estate agents make recommendations on other professionals whom you may need to contact during a home sale. However, keep in mind that this doesn’t mean that those professionals are the best or will suit your needs. They could have business partnerships with these individuals and companies. You should do your due diligence before choosing to work with anyone.

Real estate agents are great to work with when you want to buy or sell a home, but you’ll want to check what their responsibilities and duties are to you. Having the wrong impression of where their loyalty lies and what they can do could result in a negative experience because you had the wrong expectations.