Choosing A Real Estate Agent
In Virginia Beach
In most Virginia residential real estate transactions, each side is represented by a licensed real estate agent. The seller’s agent, also called the listing agent, represents the sellers. The buyer’s agent, also called the selling agent, represents the buyer.
If you plan to list your house for sale in Virginia Beach with a real estate agent, you will most likely sign a contract saying that your agent will represent you “as a client in an agency relationship.” In short, your agent will act on your behalf with your best interests in mind.
The same goes for the buyer’s agent. As a buyer, when you go house hunting, you want to make sure that your agent is working for you and not for the person whose house you want to buy.
Can Your Real Estate Agent Have Both Buyers and Sellers?
It is common for a real estate agent in Virginia Beach to act as a buyer’s agent for his buyer clients and act as a seller’s agent for his clients who are selling. The chances are very slim that a buyer, at any given time, is going choose a house that his agent has listed. With over 8000 real estate agents and 14,000 listings in Hampton Roads, it’s a long shot.
Still, sometimes it does happen, and when it does, all parties are required to sign a “Dual Agency Disclosure.” Since one agent can’t represent both parties, it must be made very clear to both sides who the agent represents.
Should You Work With Only A Sellers Agent
(or Buyers Agent)
It makes no difference. You should probably steer clear of someone who claims to be only a buyer’s agent (he is probably saying that because he can’t get any listings). Besides, understanding both sides of the transaction is crucial to negotiating the best deal possible. If you don’t know how the other side thinks, it’s tough to get inside of his head.
Ultimately, you work with a real estate agent to give you worthwhile advice, protect you during negotiations, and keep the deal on track until closing. Be selective and choose an agent who will get the job done right the first time.
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