The real estate industry is often viewed as extremely competitive where everyone looking to save or make the most money possible. Whether you are a first-timer or a seasoned home-buying veteran, tensions and emotions can sometimes get the best of us. It is important to remember that there are written and unwritten rules when it comes to working with an experienced real estate agent that can help the process go more smoothly.
Here are some real estate agent etiquette tips and rules to keep in mind when you start your home buying or selling journey:
How Agents get Paid
It is sometimes easy to forget that real estate agents are almost always paid on commission, meaning if they don’t complete a sale, they do not make money. With this being the case, real estate agents are often very motivated to perform well and do everything in their power to see the home transaction go through.
Unless you’re extremely lucky, your real estate agent won’t solely be dedicated to you and your needs. Depending on your agent’s workload and schedule, their time may be extremely valuable and hard to come by. This means that keeping scheduled appointments and being on time is crucial. Be respectful and courteous because their success depends largely on their clients.
Signing the Dotted Line
You can expect to sign a buyer’s broker agreement and an agency agreement. These are documents that lay out the duties and responsibilities of both parties. The broker agreement is a contract that creates a relationship between you and the agent and if you become dissatisfied, you may ask your agent to terminate the contract.
If you are working with an agent as a buyer, one of the most important aspects to remember is that the listing agent works for the seller. Do not expect them to show preferential treatment but if they show you the property, they will expect to represent you. If you hire the listing agent to represent you, the agent will be working with a dual agency (for the buyer and seller) and conflict of interests can occur.
Open House Protocol
There are a few tips to help make the most of an open house at a property you are interested in:
- Ask your agent if it is proper to attend an open house alone, going unescorted is sometimes frowned upon.
- Bring your agent’s business card to hand to any agents (whether they are the listing agent or agents looking for unrepresented homebuyers).
- Let your agent ask the questions, refrain from asking the host any questions regarding the seller and the seller’s motivations.
Being clear and upfront from the beginning with your expectations and goals can help eliminate any confusion or misdirection during the process. Timeframe, communication guidelines, house-specifics and more all should be addressed to help both you and your agent get the most out of the home buying process.
Finding and working with the right the right real estate agent can make all the difference in the world when searching for your dream home. In the Phoenix market, Jeff Barchi is the most trusted and experienced name in the business. With nearly 20 years of experience and a track record of success and satisfied clients, Jeff Barchi will work for you and turn your dream of becoming a homeowner into a reality. To start your search today, contact Home Sellers Arizona.