August 03, 2014
Agents are often in a tough situation. In order for them to make money, they need to please they're clients and at the same time still be honest. Sometimes there two factors don't agree with each other.
So the most imporant thing you can expect from your Real Estate Agent is a comparable analysis. This is a document that only Real Estate Agents has and tells you sold house prices. This statistical data helps you decide how much you should pay for, for a house with similar size, type and location.
Simply put, if your agent does not provide you that, fire him! Do not ask him to provide you that. The agent should initiate it. This is a good test to see if your agent is honest.
Aside from that, any other additional knowledge can be seen as a plus, but realize your agent could be wrong. Do not trust your agent with any other kinds of questions.
If you are wondering whether a house is a good investment, don't ask your agent. Your agent has to say yes in order o encourage you to buy.
If you wonder whether your house is legally liveable, ask your lawyer.
If you wonder whether you can afford the house, ask your mortgage broker.
As a home buyer, you are essentially establishing a team to help you buy the house of your choosing. Your team needs to work well together and at the same time, inform you when any one member of your team is not putting his/her weight and/or deceiving you. To do that, it may be best to get referrals, but not all from the same team members. That is, do not ask your Real Estate Agent to help you hire your lawyer, home inspector and all your other members. If your Real Estate Agent is a crook, then the other team members will also be.
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