|
How does a buyer’s agent get paid?
As unbelievable as it may seem, you can have
your cake and eat it too. You can have your
own agent represent you throughout the
purchasing process and not even be required
to pay for it out of your own pocket, unless
you choose to do so. In most cases the
buyer’s agent is actually paid, at closing,
out of the commission that the seller pays
to the listing office. In the case of a
property that is for sale by owner, the
buyer’s agent’s compensation is generally
included in the offered price as part of the
contract.
Is it really that simple?
Yes, but there is one caveat. If you choose
to look at a property with another agency,
even at an Open House, and then wish to
purchase that property through your own
buyer’s agent, the first agency may be
entitled to the commission legally
(“procuring cause”), as well as ethically
(“The Golden Rule”). You could still choose
to hire your own agent, but you would then
be responsible for their compensation.
When should we choose an agent?
For your own protection, choose a buyer’s
agent to represent you, before going out to
look at property. Do not look at property
unless your agent is with you.
What do you need from us?
We like to meet our prospective buyers as
soon in the process as possible, to discuss
the buyers’ needs and wants, our services,
and mutually decide if we should agree to
work together. Because we are a small
company and only work with a few clients at
a time, it is important to us that these
buyers are serious and committed to us, as
well. In exchange for our allegiance and
diligence, we ask that our clients agree to
work only with us.
Do we have to sign a contract?
Yes. NH state law requires that in order for
someone to hire another person as an agent
to represent him or her, there must be a
written contract spelling out the terms
under which that agent will work. We use a
form prepared by the NH board of Realtors to
clearly state our agreement with our
clients, including dates, property
descriptions and price ranges, compensation,
and the responsibilities of each party.
If you rarely take listings, how can
you show us any properties?
As members of the NH Board of Realtors and
the Multiple Listing Service, we have access
to any properties that are on the market. We
can obtain listing information, preview
properties, and set up appointments to show
them to prospective buyers.
Can we take a peek to see what’s for
sale?
If you are interested in checking out
current listings in the MLS, you can do this
through our website. Just go to the MLS
page, click on the New Hampshire icon,
choose a county (Merrimack and Sullivan are
the local counties) and enter your choices
for a search. Let us know which properties
interest you, (just send us the MLS numbers)
and we will check them out for you.
|