#5 - Will The Agent Represent Me Exclusively?
|Posted by: Intercity Realty Sun, Aug 9th / 15|
10 Questions To Ask When Hiring A Sales Representative
The smartest home buyers and home sellers prepare themselves during the real estate sales representative selection process. Last week we focused on:
Keep in mind, during this selection process, as you are interviewing sales representatives, they are interviewing you as well. They need to ensure if you are serious in your endeavor of buying or selling. Do not be alarmed. Good sales representatives are always judicious in client selection.
So what exactly should smart consumers be asking sales representatives?
This is precisely what we unveil throughout our article series "10 Questions To Ask When Hiring A Sales Representative." Let's continue with your 5th question:
#5 - "Will The Agent Represent Me Exclusively?"
Buyers and Sellers are sometimes confused about the role of a real estate agent in their transaction. They may not understand exactly who the agent represents. Though the most common form of agent practice is single representation, dual representation is popular where the agent represents both the buyer and seller.
In the same way that both listing agents and a buyer’s agent owe the client loyalty, confidentiality, accountability and honesty, these hold true even if one agent is representing both sides.
There are indeed some advantages when an agent represents both sides. For example, an agent may be able to match the property with the right buyer more efficiently if they search within their own network. Adding to this increase in speed and effectiveness, both the buyer and the seller have only one point of contact. This can help to reduce any possible stress and answers to questions may be provided more quickly. As well, it can work to make the transaction process smoother by evaporating any possible politics, thereby encouraging a single focus on the terms of the transactions.
So whether an agent is practicing single or dual representation, you as the client will have your own needs and preferences, so these options are here for you to explore and to inquire upon.
In the end, you want your real estate transaction to be memorable, hassle-free, and to achieve the best purchase or sale price. It always starts with asking the right questions.
By Rick Daredia, Contributing Author for Intercity Realty