Frequently Asked Questions:
Can I work with more than one real estate agent?
Absolutely, but I won't be one of them. I work hard for my clients and all I ask
in return is some loyalty. Its not fair to me, or any agent for that matter, to
do all the research and analysis only for a client to write a contract with
someone else. When you work with multiple agents none of them are really working
that hard to help you find a home.
How do real estate agents get paid?
Traditional real estate agents get paid from the sellers proceeds of a sale?
That figure is determined by the listing contract and the coop fee in the
Multiple Listing Service. There are a small number of agents who work
exclusively with buyers and their business model frequently has the buyer pay
their commission and then try and negotiate a price reduction with the seller to
accommodate having to pay their commission.
Can you only show me Long and Foster listings?
No, all of the major brokerages belong to the Multiple Listing Service and have
agreements to show each other's listings. There are a very small number of
listings that are exclusive to one broker. Also, keep in mind that I can show
you For Sale by Owner and New Construction as well.
I'm searching on the Internet but most of the houses are
not available when I call.
This is one of
the most frequent complaints I get from customers calling about properties they
find on the internet. The internet should only be one strategy you use if you're
serious about finding a home. The most important strategy is to first select a
real estate agent who will be proactive in finding you a home. Your REALTOR®
should be emailing you listings as soon as they come into the MLS system and
before internet sites are updated.
Back to the internet sites...most of them usually update their
sites once a day. They are generally good about putting new listings in but
aren't as good when it comes to updating a listing when a contract is accepted.
This is frustrating to customers who find a listing on their favorite website
and then call only to find out it is already under contract. The information is
free to you and you're getting what you pay for.
The most accurate source of real estate information is your
REALTOR® who subscribes to the Multiple Listing Service.
Will I be working with you or someone else?
Good or bad its going to be with me. I'm not part of a team and I only work with
the number of clients I can comfortably accommodate at one time. Of course there
are occasional times when I may not be available when you want and in those
cases I'll refer you to a qualified Realtor that I know and trust who can help
you
Will I have to sign one of those Exclusive Buyer
Agreements: Yes.
If I don't sign an Exclusive Buyer Agreement but still
want you to work with me, can you do that?
No.
Can you help me get a loan?
Yes and in all likelihood I'll refer you to
Prosperity Mortgage. Prosperity
Mortgage is a company jointly owned by Long and Foster and Wells Fargo
Mortgage. Our office here in Crofton is large enough to have a full time
mortgage officer on site. Her name is Ann Burke and she can be reached at
410-721-1500. Ann is equally qualified to help you out whether you're a first
time home buyer or have bought and sold many times. If it doesn't work out with
Prosperity than we can go someplace else.
What if it doesn't work out between us?
If it
doesn't work out for whatever reason then we both move on. I don't discriminate
against clients but there are rare times that I find that I cannot help them.
Life is too short to put yourself through those kinds of hassles. Whether its a
listing agreement or a buyers agency agreement you or I can cancel with one
day's written notice. Of course there is some protection built into the listing
agreement wherein if you cancel the agreement you won't be able to sell the
house to anyone that crossed the threshold as a result of my marketing efforts
for a period of time. That's only fair.
Will you offer me a commission discount like the agent
down the street? "To obtain the highest price possible for your
property, you need someone who is a skillful negotiator-isn't that correct? So
if you hire an agent who can't even negotiate a full commission on their own
behalf, how effective do you think they will be in negotiating the maximum price
for your property?"
By the way...some Realtors down the street should reduce their
commissions :>)
How easy is it to reach you?
You will get all
my numbers...office phone, home office phone, cell phone, home phone, office
fax, home fax, email addresses, web site. When I'm not with a client I don't
screen calls.
What's the best Web Site to use to search for homes?
From a self-serving perspective I would say this one. Here's the
deal...Realtor.com gets a lot of visitors every month but keep in mind real
estate is local. If you're interested in finding a home in Wyoming or Texas than
by all means visit Realtor.com. If you're interested in finding a home in
Maryland than search on my site. Sure Realtor.com has more listings than any
other site...but they aren't in Maryland where you're looking to buy a home. I
subscribe to Homesdatabase.com which is owned by our local Multiple Listing
Service. I believe that if you're looking for the most comprehensive set of
active listings available to the public this is the place to be.
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