Getting the Most Out of Your Agent

Working with your real estate agent

Real estate agents have several responsibilities in your transaction.

The property is "listed" with a broker typically, and that agent represents the seller. If that agent also brings a buyer to the transaction, he becomes a "dual agent" in representing both sides in the transaction. This is legal in California, but if you are the buyer, not advisable.

If you are the seller, then it behooves you to look at whatever offer comes to the table from whatever source. As the buyer, you can get an agent working only on your side, with a "fiduciary duty" to you alone, which is to your advantage for obvious reasons. If in a dual-agency situation, as long as the seller never discloses "how low he'll go", and as long as the buyer never says what his "top offer" is, then dual agency works out most times just fine.

A "buyer's agent" has the following tasks to perform in your transaction:

• Assisting in determining the search price range;
• Assisting in determining housing requirements;
• Finding specific properties within search parameters;
• Show properties;
• Assist buyer in understanding values to determine offer prices;
• Recommend initial consultants to use in transaction (lenders, inspection companies, etc);
• Negotiate through buyers offer purchase price and terms with seller; and
• Handle all complex issues of escrow and coordination of the completed purchase.

For more information or answers to your questions, please feel free to reach us via our contact form below or call us directly at (714) 299-7325.