In the modern real estate market, one can find it easier to buy a good property at a good price. The market abounds in many foreclosed properties. Such types of homes are listed at very low costs, given that mortgage loan providers just like to obtain the revenues that are due to them. The use of a Realtor’s services can help you to find the best available package. Know about the 3 types of Northwest Indiana real estate agents that you should choose from.
Buyer’s agent
This type of agent is hired by a potential property buyer, in an attempt to save utmost money while purchasing a property. These agents get a commission, which is a part of the selling price of the sales. However, buyers also express their consent to pay a part of the sale’s price to the buyer’s agent. Such an agreement helps the buyer’s agent to make sound profits when he represents the buyer. A buyer’s agent typically charges between 4 and 6% rate of commission for representation.
Seller’s agent
Such type of a Northwest Indiana real estate agent works for the vendor, and tries to get them maximum possible sum. This kind of agent gets a proportion of the selling price. Thus, it is in their best interest to get maximum sales price of the home or property.
A listing agent is perpetually a seller’s agent, only due to the fact that they have a vested interest in getting the best sales price. Thus, they represent the vendor at all times.
Dual agent
Such an agent equally represents buyers as well as vendors. This type of business generally occurs when a potential home purchaser hires a broker as the agent of a buyer, and then chooses to put an offer over a home or property which has been listed by the agent.
- The broker works only to seal the deal.
- He puts home inspection appointments in place.
- He also has discussions with the mortgage provider, but does not give guidance on the sales price.
This type of Realtor does not represent either a seller or a buyer, and does not provide either client with guidance.