It has become effortless to buy a great property in today’s real estate market at a fantastic price. Numerous properties are foreclosed and have been floating around in the market at rock bottom prices since the mortgage providers are only looking to get the revenue that is due to them. If you plan on buying a property, you must know all the tools needed to buy a property in this market. Though you can move on your own and give ads on online free classified sites, the intelligent way would be to take help from a service. The process is complex, and a lot of money and effort is involved in it; and therefore, consulting experts would be the brainy approach.
Using a real estate agent’s service will help you get the best package in the market. In this article, we will explain about three kinds of real estate agents, and you have to decide whom you want to hire to represent you in the market.
There are mainly three types of agents in the modern-day real estate market: a buyer’s agent, a dual agent, and a seller’s agent. Each of these professionals represents a specific party in the buying-selling process of a real estate property.
A Seller’s Agent
A seller’s agent works for the selling party, and they are a type of a negotiation dealer. At the first stage, the seller’s agent comes to an optimum price decided by the seller and gives an ad or comes to the buyer’s agent for negotiation. The seller’s agent for his services gets a share of the selling price, and hence, it is within their best interest to get an optimum selling price so that they can manage the most out of it.
The listing agent, or the one who lists the price, is the seller’s agent because he is always interested in getting the most out of it.
The buyer’s agent is more of an advisory to the buyer. What the buyer’s agent does is renegotiates with the seller’s agent to come to a middle point. He also advises the buyer on which property should cost, how much, and the maximum threshold point the buyer should go to buy a specific house. The buyer’s agent also gets a commission from the selling price for the services they offer, as agreed upon by the buyer.
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A Dual agent particularly represents none of the client, neither the buyer nor the seller. He is the middleman or sometimes acclaimed as the broker. He doesn’t advise any of the clients, and he is only there when the negotiation is taking place and is there for closing the deal. He’ll take care of all the appointments for the property visits and take care of all the legal humdrum that might arise during the process.
Ray Smiley is one of Ottawa’s best real estate agents and is a bilingual speaker of both English and French. He can offer competitive rates for your dream home. Call him to know more.