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Selecting the Right Agent
There are several kinds of agents and brokers you may run into during your search for a home: an exclusive buyer's agent, buyer's agent, seller's agent, dual agent, facilitator, non-agent, and discount broker.
If you don't want to use a dual agent (that is, an agent who represents the buyer and seller in the same transaction) opt for an exclusive buyer's agent.
A buyer's agent who is not exclusive may accept listings. If the same agent represents both sides, he or she is a dual agent. At that point, the agent can give his or her loyalty to either side. That's why some dual agents prefer to call themselves facilitators or non-agents.
Discount brokers (whether offline or online) will be of some help, but you're expected to do much of the work on your own. If you're willing to do the work, you'll save a few thousand dollars on your home purchase.
If you're unsure whether your agent represents your interests, ask. Most states require a broker or agent to disclose its agency relationship with you.
Ilyce Glink is the bestselling author of 100 Questions Every First Time Home Buyer Should Ask, and is the Managing Editor of Right at Home Daily.
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Buying a Gut-Job
Gut-jobs are becoming more popular as the country's housing stock ages, and as homeowners migrate to established neighborhoods but still crave the modern amenities found in new homes.
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