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Find a real estate agent
An important distinction: not all real estate agents are realtors. "Realtor" is a registered trademark for real estate
agents who belong to the National Association of Realtors,
a nationwide association of real estate agents. If not a realtor, you should check the credentials and
reputation of a real estate agent you are considering using.
A real estate agent represents the buyer or seller of a home, and must disclose his agency
responsibilities to both sides if asked to represent both. Real estate brokers earn a commission
by introducing buyers and sellers, including those individuals who choose to go direct, without using an agent.
Going direct: buying on your own
You don't have to use a broker when you buy. You can purchase directly from a seller, or "fisbo" (an acronym for
"for sale by owner," or FSBO). Going direct requires doing your homework, however, learning as much as possible about the local real estate market.
Once you find a home, keep in mind that the seller's broker receives a commission and has a personal interest in getting
the highest possible price. Don't expect the seller's broker to tell you how low the seller is
willing to go.
Using a buyer's broker to find a home
You can also hire an agent, or buyer's broker, to represent you. A buyer's broker brings her
knowledge of the local market and ensures that you receive full disclosure from the seller
about any problems in a home.
Your agent will sift through listings and show you what she thinks makes a good match if you tell her
what exactly your needs are. If you are unfamiliar with the neighborhood, she can tell you about property taxes, quality of
schools, cultural activities, transportation, shopping and hospitals, or other neighborhood attributes. You can find a buyer's broker by registering online at the Buyer's Homefinding Network.
Next Topic: Deciding to buy or rent
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