Buying a house is not as easy as you may think. It can be quite a long and tedious process especially when you are working on your own. Now, if you are wondering if you would need to hire a real estate agent or a Memphis realtor to buy a house, then the answer would definitely be a yes. While it is true that the internet has allowed people access to a vast network of information, it would still be better to seek out the help of an experienced professional.
These professionals know more about the market and they will do their best to help you save time and money. When you decide to look for an agent, don’t just go for the ones on the listing you like because obviously, these agents would be working for the sellers themselves and they would do everything in their power to get you to make a purchase from them. What you would need to do is find a ‘buyer’s agent’ whose services would only be exclusive to you. This arrangement is oftentimes sealed with a contract restricting you from seeking other agents until your contract with them expires.
There are also times when you may encounter agents who specialize in dual services, one for buyers and the other for sellers. They can basically be both a buyer’s agent and a seller’s agent at the same time. This is called a dual agency.
Either way, whichever type of agent you choose, one thing is for sure: you would need to pay them. The commission of an agent is about 5% to 8% of the purchase price. Sometimes, and depending on the situation, the agent would cut a percentage from his commission in order to speed up a purchase.
When searching for an agent, he or she should be someone that you can put your trust with. Remember that the agent will not only be responsible for your money, he or she is also the one who will represent you in front of the seller and if you have a good relationship with your agent then you can benefit from an effective service from your agent.