So, you read our last blog post about “the team members necessary to go through your buying/selling process”…now what? The next step is to find someone who is going to represent you and your needs for your real estate transaction. Someone who is going to walk you through the process and handle all of that boring and complicated paperwork. Someone who is going to advocate for you and make sure you’re in good hands. This individual is your Realtor®!
When you work with a Realtor®, please note that some agents work with buyers as “buyer’s agents,” thereby representing the buyer, while others work as “seller’s agents,” thereby representing the seller. As a buyer, if you work with a buyer’s agent, any and all information about your personal situation, motivation and what you are willing to spend on a particular property is confidential. With a seller’s agent, any personal information or any statement you make on how much you will spend on a property, by law, will be disclosed to the seller!
So, when you hire a Realtor®, please ensure that the Realtor® presents you with a “Disclosure Form 443” that defines and states to you whether he/she represents the buyer or the seller. This signed disclosure protects you, the consumer! You must understand how the verbal and written information you provide to that Realtor® will be used, as it could be used in your best interest or, believe it or not, against your best interest.
Please understand, by signing this form, it does not obligate you to use this agent, nor does it mean you have to pay a commission. It is only a disclosure that defines who the Realtor® represents during your real estate search and transaction.
There are many upsides to having a Realtor® on your side during your buying/selling process but the biggest one is that you have someone who is in your corner no matter what. Your best interest is always at the forefront of your Realtors® mind and once you understand that, you can utilize your Realtor® as your greatest advantage during the buying/selling process!
Now that you understand what it means to be represented properly by a Realtor®, stay tuned for our next blog post which will outline why not all Realtors® are the same!