Frequently, the first person you consult about buying a home
is a real estate agent or broker. Although
a real estate broker provide helpful advice on many aspects
of home buying, they may serve the interests of the seller,
and not your interests as the buyer. The most common practice
is for the seller to hire the real estate broker to find someone
who will be willing to buy the home on terms and conditions
that are acceptable to the seller. Therefore, the real estate
broker you are dealing with may also represent the seller.
However, you can hire your own real estate broker, known as
a buyer’s broker, to represent your interests. Also,
in some states, a real estate broker and sales agent
are allowed to represent both buyer and seller.
Even if the real estate broker represents the seller, state
real estate licensing laws usually require that the broker
treat you fairly. If you have any questions concerning the
behavior of a real estate broker and sales agent, you should
contact your State’s Real Estate Commission or licensing
department.
Sometimes, the real estate broker will offer to help you obtain
a mortgage loan. He or she may also recommend that you deal
with a particular lender, title company, attorney or settlement/closing
agent. You are not required to follow the real estate broker’s
recommendation. You should compare the costs and services
offered by other providers with those recommended by the real
estate broker.
Use our nationwide directory of real estate agent/broker
to find the closest real estate agent or broker to you.
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