Common Myths About Working With Real Estate Agents

That agent represents the seller and is contractually bound to get the best deal for the seller. It doesn’t mean the agent can’t work with you in a fair and professional manner, but it does mean you should not disclose confidential information to the agent.

Bottom Line
If you tell a seller’s agent the top dollar you will pay for a house, the agent must pass that on to the seller. Take time to learn about agent duties and loyalties before you start home shopping.

Home Buying Myth Number 2

You might know you are a good match with an agent on the very first day you meet, but what if you aren’t sure? If an agent asks you to sign an agency agreement before you feel comfortable about it, try one of these alternatives:

Ask the agent to work under a verbal buyer agency agreement for a short time. Some states allow this, giving you time to become familiar with the agent before you sign a formal agreement.

Ask the agent to write a buyer agency agreement that covers a very short period, a day or a week.

Find out if the agent can offer a non-exclusive buyer agency agreement. The agent would be your buyer’s agent, but you would not be tied exclusively to her.

Let the agent continue to be a seller’s agent–just don’t disclose confidential information.
Bottom Line
If the agent will only work with you if you immediately sign a lengthy buyer agency agreement, you might be better off seeking another agent.

Home Buying Myth Number 3

Maybe–but maybe not. If you are home shopping in a specific area, and the agencies belong to Multiple Listing Services, it means they all have access to the same properties.

Ask agents what areas they cover. Small-town agents might work a multi-county area. Agents in a city might restrict themselves to certain neighborhoods or subdivisions.

If you sign agreements with more than one buyer’s agent, make sure……………………………..