Why Do Some Agents Ask for Exclusivity?

Why do some agents demand a buyer’s exclusivity? Well, most agents don’t want to put in their time and effort without being certain of a buyer’s loyalty. Looking to buy in the Greater Houston Area?  Get a full MLS accessLooking to Sell in the Greater Houston Area?  Get a free home market analysis When are you committed to a real estate agent, why do agents demand exclusivity? Well, unlike most professionals who receive a steady paycheck, agents usually work on a commission. Buyer agents who are showing you properties and negotiating on your behalf are basically working for free. So in order for them to devote this kind of time and energy, they’ll want to know you aren’t going to switch to another agent once you get closer to closing. In order for an agent to devote their time and energy to you, they’ll want to know you aren’t going to switch to another agent once you get closer to closing. Some agents will ask you to sign a buyer’s rep agreement. This contract binds you and the agent to each other in a mutual working relationship for a given period of time. Once you sign this agreement, you are legally obligated to work with that specific agent. For this reason, it’s always important to read the contract carefully. If you sign the agreement and are happy with the agent, you should stick with the contract. However, you can ask the agent to cancel the contract if you are unhappy and don’t want to continue. Generally speaking, agents won’t want to continue working with a disgruntled client anyway. If you haven’t signed a buyer’s agent agreement, you aren’t legally tied to an agent and can move on whenever you please. But even if you aren’t technically exclusive with a single agent, people will tend to assume you are working together if you carry out a number of consecutive tasks with that same agent. Voice your expectations from the start to avoid any awkward misunderstandings. If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon. Contact Us   Written by Ruby Miranda on September 23, 2018. Posted in First Time Home Sellers, For Sale By Owner / FSBO, Market Snapshot, Sell Your Home, Seller TipsTags: First Time Seller, For Sale By Owner, For Sale By Owner / FSBO, Sell Your Home, Seller Tips Trackback from your site.   Leave a Reply.

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4 Costs Homebuyers Often Forget About

Today, I’d like to go over four costs you may have forgotten about when making your home buying budget. Looking to buy in the Greater Houston Area?  Get a full MLS accessLooking to Sell in the Greater Houston Area?  Get a free home market analysis   It isn’t cheap to buy a home these days, and I’m not just talking about the price of the home itself. Unexpected out-of-pocket costs can pop up during the process. It isn’t cheap to buy a home. Today, I’d like to go over four costs you may have forgotten about when making your home buying budget. 1. The inspection. After you’ve made an offer on a property, you’ll usually need to pay an inspector to take a look at the home. This can run you a few hundred dollars. But, if there are any structural or safety issues, you may have to pay another professional to look specifically at the problem area. 2. Extra costs at the closing table. Beyond the closing costs themselves, there are a few additional expenses that buyers sometimes forget about at the closing table. Many lenders require you to pay a year’s taxes and mortgage up front. If the seller prepaid any of the taxes or fees, you’ll pay a prorated amount for the next of the year. 3. The move. Unless you’ve got some family members who can take care of most of this work for you, moving can be an expensive process. Costs will vary greatly depending on how much you’re moving, how far away you’re moving, where you live, and more. In any case, expect to pay a few thousand dollars. 4. Immediate costs. You may be able to put off new furniture purchases and renovations, but there are a few different expenses to expect right away. For example, you’ll need to hire a locksmith to change the locks in your new home. There could also be deposits or fees associated with setting up or transferring your utilities. Also, remember to plan for both routine and unexpected maintenance costs. Most real estate professionals will tell you that something in your new home is going to break down within the first year. So, set up an emergency savings account with at least six months’ worth of living expenses. If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon. Contact Us   Written by Ruby Miranda on September 23, 2018. Posted in Buy A Home, Buyer Tips, Financing A Home, First Time Home Buyers, Home Loan ProcessTags: Buy Your Home, Buyer Tips, Financing A Home, First Time Buyer Trackback from your site.   Leave a Reply.

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