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Allow me to debunk some very strange tales you might have heard about Real Estate Agents/Brokers…
First of all, if you’re buying a home, you don’t owe your agent any commission. Yep, you read that right. The agent’s fee to buy a home is free for the buyers. This is because the buyers’ agent is paid a percentage of the listing agent’s commission. So, in essence, you only pay your agent a commission when you’re selling a home – not buying. On the seller’s side, you can negotiate the listing agent’s commission up front. But the standard commission rate is usually between 5% – 7%, so plan on budgeting for that amount.
Some buyers want to use an agent they saw on Instagram or in some cases TV (Million While it may be tempting to choose an agent based on their social media presence or TV appearances (Million Dollar Listings NY is one of my Favs), this is not always the best option unless they are familiar with the area. It’s crucial to have an agent who is well-acquainted with the Pacific NW region and lives within the community they serve. Due to the varying pros and cons of each neighborhood or even street, it’s essential to have a knowledgeable guide to help you make informed decisions.
In the real estate industry, an agent’s success hinges on one crucial factor: their reputation. This is established via their capacity to provide outstanding guidance and support to both buyers and sellers. As a matter of fact, they are legally obligated to prioritize their clients’ best interests. So we’re legally bound to tell you the truth. If you’ve hired an agent who’s breaking that promise, run!
Even if you’ve signed an agreement with an agent, they have to release you from that agreement, if you ask them to. Of course, there are rules and legalities around contracts. But most of the local laws favor clients, not agents. So be sure to hold your agent accountable, and if they refuse, leave!
In theory, if they’re busy, they should be the best, right? Not so fast. The busiest agent is just that: Busy. Chances are, they have a long list of clients, which may mean that they can’t give you the personalized attention that you deserve. Instead, choose an agent with the personality that fits yours, is an expert in the community, and has the time to devote to you.
Hey there! I’m Maureen, a lifestyle blogger and Real Estate Broker at American Classic Homes Real Estate in the Pacific Northwest. Here to help you find your perfect home and share tips on living your best life in the PNW. Let’s come home together to the Pacific Northwest!
