2. Choosing a Real Estate Professional
While all real estate agents are licensed by the State of New Hampshire and subject to the regulations of the NH Real Estate Commission, not all real estate agents are Realtors®.
Realtors®: A Higher Standard
Realtors® are members of the National Association of Realtors® and pledge to a higher standard of ethical business practices. All licensed agents at Manter Realty are proud to be Realtors® and active members of the Concord Board.
How to Vet a Buyer Agent
Are there letters after their name? To sharpen their skills, agents participate in education programs to earn accreditations and designations. Look for CBR (Certified Buyer Representative) or ABR (Accredited Buyer Representative).
How much of their business is repeat or referral? The testimonials of repeat and referred customers are the best measure of a company’s commitment to service.
How do they get paid? Unless it’s a For Sale By Owner (FSBO), agents are paid by the seller. The listing agent publishes a cooperating (co-broke) fee to compensate the buyer’s agent. Sometimes this fee may not cover the buyer agent’s minimum. Ask how this is handled.
What services do they offer? Services like auto emails for new listings will give you an edge when competing with other buyers.
Who does the real estate agent work for?
If their sign is on the lawn, they clearly work for the seller. But what if you call a different broker to bring you to view that same home? Do they work for you? Unless you have a Buyer Agency Agreement, assume that all agents work for the seller. Ask to see a Disclosure of Agency Relationship in Real Estate form. This document spells out the duties and restrictions of agents when dealing with the consumer. The listing agent is required by law to disclose any and all information about the property, but not the seller’s personal information or motivation. On the other hand, the fiduciary duty of the listing agent is to report any and all information gained about prospective buyers to the seller. So, keep the conversation restricted to the property. You wouldn’t want anything you say to compromise your negotiating position. Ask Manter Realty about our Buyer Brokerage services at little or no cost to you.