Hello i will be working with a real estate agent when finding properties to rehab i was wondering if there is any precautions when working with a real estate agent? versus buying straight from the seller?
Yes, make sure you understand how your agent expects to be paid. If you are buying a listed property, your Realtor’s commission will be paid out of the seller’s proceeds. If it is a FSBO, you need to know what your Realtor’s expectations are. I would think that he/she will want full share, but you should know in advance and you should have it in writing.
Keith
Hi!
As a Wisconsin Realtor, I would have to suggest that your best bet to make sure that the agent is working for you is to sign a Buyer’s Agency Agreement with that agent. In the agreement, the agent can still be paid by the seller from the proceeds of the sale, but the agent will be looking out for your best interests, instead of being a sub-agent of the seller, which agents are if you don’t have a Buyer’s Agency Agreement with them.
LisaMarie