Buyer's vs. Seller's agents explained [Real Estate Insider]

Aug 24, 2020 7:55:18 PM / by Brett O'Daniell posted in Insider, Home tour, real estate, agents, real estate agent, buyer's agent, selling agent

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You may have received an email from HomeTraq that mentions "No Obligation" or "No Solicitation." These principles are intended to protect you, as the buyer, to ensure you can get the best deal on a home as possible.

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Real Estate Insider Tips [Procuring Cause]

Mar 16, 2020 9:20:36 AM / by Mark Gorman posted in real estate, buyer's agent, commission, homebuyers, dual agency, representation, listing agent, selling agent, home showings, disclosure, negotiation, procuring cause, home tours

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"Procuring cause" is a real estate term which agents, brokers and sometimes buyers use to determine who will receive the commission on a house sale. It is widely identified by the specific tasks performed by a real estate agent which lead to an accepted purchase contract and successful sale of real estate.  

In many cases, the "procuring cause" task could be identified as the first showing of a house by a real estate agent which a buyer purchases. "Procuring cause" could also be construed to mean the task of writing and negotiating the purchase offer. Since there is no hard and fast rule as to what specifically triggers "procuring cause", its easy to see how this situation can get tricky.

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You found it! Should you call the listing agent to view the home?

Aug 21, 2019 8:09:00 PM / by Mark Gorman posted in buyer's agent, commission, listing, home purchase, homebuyers, housing market, dual agency, homes for sale, real estate tech, representation, agency, listing agent, selling agent, St. Louis, Zillow

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You can call the selling agent to setup an appointment to view a home, but not having your own representation could be tricky...

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Can you tour homes without a real estate agent?

Aug 3, 2019 8:24:00 AM / by Brett O'Daniell posted in real estate, buyer's agent, commission, listing, homebuyers, first-time, homeownership, agency, listing agent, home showings, disclosure, procuring cause, home tours, do it yourself, hometraq

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When you speak to an agent at an open house, call an agent for more information about a house, or ask an agent to show you a home, you might be opening a can of worms for yourself if you don't intend to buy a home through any of these agents. Don't make the mistake of leading an agent on, even unintentionally, because it can come back to bite you.

The real estate agent and brokerage who have a home listed for sale represent the seller and that person's best interests. The listing agent is contractually obligated to report to the seller all activity & material facts they learn about the local market and potential buyers. 

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Do I have to use the agent who shows me the home?

Jul 23, 2019 7:58:00 PM / by Mark Gorman posted in touring homes, buyer's agent, commission, listing, homebuyers, dual agency, homes for sale, agency, listing agent, open house

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Many buyers wonder if the listing agent of a home they are interested in will show the home to them. The answer is "yes", as the listing agent is obligated to show his or her client’s home. A listing agent is hired by the seller to work 100% for the seller’s best interests.  

Additionally some buyers wonder if they can save some money by going directly to that seller's agent to buy the home. On the surface, the thought of cutting out the "middleman (a buyer's agent)" may sound like a way to save time and money. While it may save time, the buyer will NOT save money on that specific purchase transaction.  

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17 questions to find the best agent for you

Jul 16, 2019 8:14:00 PM / by Brett O'Daniell posted in Home tour, home shopping, real estate, house hunting, touring homes, home search, real estate agents, agents, real estate agent, professional, buyer's agent, commission, listing, realtor, home purchase, sales contract, home inspection, homes for sale, listing agent, selling agent, home showings, home for sale, hometraq, home ownership, buying a home

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Interviewing potential real estate agents before deciding on whom to hire is a good idea. It’s in your best interest to ask them some or all of the following questions to gauge their knowledge and fit with your needs. Take a look below, and let us know if there are any other questions you’ve found valuable when interviewing agents.

 

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What is a "Coming Soon" listing? How quickly can you tour one?

Jun 28, 2019 7:07:00 AM / by Mark Gorman posted in buyer's agent, listing, homebuyers, listing agent, home showings, option, coming soon, consumer, housing demand, housing inventory, pending

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Coming Soon listings continue to become more common as the local housing inventory tightens.  It causes concern among buyers, sellers and real estate professionals.  It has prompted real estate commissions across the country to issue guidance on the topic. Here’s what you need to know to keep informed and to understand all sides of the equation.

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Visiting an open house this weekend? What should you say to the agent?

Jun 21, 2019 1:46:00 PM / by Mark Gorman posted in real estate, buyer's agent, homebuyers, dual agency, agency, listing agent, selling agent, home showings, procuring cause, home tours, open house, home for sale

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When you visit a public open house and an agent asks you to sign the "sign-in sheet" what should you say? What should you write down? What are the rules for who can represent you if you decide that the Open House is, in fact, your future Dream House? 

Many times the agent holding the open house states the seller is requiring a list of everyone who walked through the house as a measurement of interest and to get feedback on the price and condition of the property. Some agents state that their company policy, brokerage and/or seller require the list of visitors for security reasons in case something ends up missing from the house.  

While these are legitimate reasons, if you have ever provided your real contact information at an open house, you have probably experienced being contacted for something other than the explained reason. Most likely you were solicited to see if you wanted an agent to show you a different house or if you needed pre-approved for a mortgage.

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Pick the Right Real Estate Agent

May 17, 2019 5:32:00 PM / by Mark Gorman posted in Home tour, home shopping, real estate, house hunting, agents, real estate agent, professional, buyer's agent, commission, listing, realtor, home purchase

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Though your search for homes may start online, it won’t end there. You can do a lot of research on your own. The National Association of Realtors reported that 68% of home buyers found the home they ended up buying on their phone last year, but once you find your perfect home, you will need the help of an expert when it comes to actually securing it.  A buyer’s agent can help you navigate through the home-buying process. When it comes to making an offer, your agent will negotiate on your behalf so you don’t pay a penny more than you have to.

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