How & Why Your Real Estate Agent Represent You in North Carolina

Dated: 08/10/2019

Views: 18

In Real Estate transactions, you typically have two parties. The Seller and the Buyer.  Let's take a look at how they are each represented.

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The Listing Agent represents the Seller.  That agent will serve the Seller's best interest, provide useful information to help the Seller make educated decisions throughout the transaction, and negotiate on the Seller's behalf.  The best agent goes above and beyond that and provides remarkable digital advertising and client services. A percentage of the Sales Price is paid to the Agent at closing, as commission.  

The Buyer has three choices and does not pay the agent a commission, in any option.

  1. Buyer's Agent
  2. Dual Agent
  3. No Agent

A Buyer's Agent will represent the Buyer's best interest, provide useful information to help the Buyer make educated decisions throughout the transaction, and negotiate on the Buyer's behalf. The best agent understands their clients wants and needs and relentlessly pursues them while providing outstanding client services.  When the transaction closes, the Buyer's Agent receives a split of the commission that was paid by the Seller.

A Dual Agent represents both the Seller & the Buyer.  This agent will be fair, honest, and treat both parties equally.  When you work with the Agent of the sign in the yard, you have a Dual Agent. The Seller pays the full commission to the Dual Agent at closing.

And, obviously, a Buyer can choose no representation which can make sense if they are well versed in real estate law and practice and understand their rights and obligations. However, the representation a Buyer secures by choosing to work with an agent is of no cost to them. So, it makes sense to choose legal representation.

You can find For Sale By Owner's who have opted not to hire a 
Listing Agent, usually to save the commission.
If the Seller will not cooperate with your Buyers Agent
and pay a 2% commission for your protection and
representation, you might want to proceed that property and
transaction with extreme caution.

An occupation in Real Estate is not as lavish and luxurious
as portrayed on TV, and the best agents do work hard for their living. 
There are potentially 181 steps in a Real Estate transaction 
and over 50 people involved from Lenders and Appraisers,
Inspectors and Insurers, and Attorneys.

Representation is Important, and it is equally important that you understand
How & Why Your Real Estate Agent Represents You in North Carolina.

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Nicole Knowlton

I live in Beaufort, North Carolina with my husband, daughter, and Buckeye (our yellow retriever / pointer mix). My husband and I have worked together in rental property ownership and management over ....

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