You looked, you saw, and now you want the help of a professional. Get a recommendation from someone you know for a recommendation of a Real Estate Broker or Realtor. There are two types of brokers in any Real Estate transaction, the listing broker and the selling broker. The listing broker is the person who has been hired by the seller to list the house for sale with them or their agency. The selling broker is the broker who brings the sellers the purchasers. Typically, the seller agrees to pay a percentage of the sales price of the house to the brokers and the split is usually half to each broker. Be advised however, even though your broker may not be the listing broker, they are still getting paid by the seller and are his or her agent, not yours. It is their job the get the best price possible for the house.

Real Estate Brokers have a rather strange job and their entire job is an exercise in conflicts of interest. Brokers almost always represent the Seller and it is very rare that a buyer’s broker is used except in very limited circumstances. Brokers are obligated to get the best price for a home that they possible can since they work for the seller. They are rewarded for this because their pay is directly related to the purchase price. In order for a broker to make money they must sell homes,which means they must also keep buyers happy and negotiate on their behalf as well. Brokers also have their own listings where they will not have to split the fee with anyone else and many will attempt to steer you in that direction. Be wary as there may be many more homes and some may be better suited to your desires than what you are being shown.

If you determine that you need to use a broker to find your home , there a few tips that will help you get the best results possible:

1. Don’t sign anything. Brokers will sometimes attempt to get you to sign an exclusive contract whereby you are bound to use only that broker.

2. Use multiple brokers as each broker has their own area where they are prevalent. A broker experienced in one town may have little or no knowledge in another town, even if they are geographically close.

3. See houses in day trips. Always see a house in the day time, not at dusk or night as it is too easy to miss things that way. Also see multiple houses at a time. If you are going to see a house with a broker, there is no reason not to see three, four or ten houses on the same excursion.

4. Don’t be bullied. If you want a house with at least three bedrooms, then do not allow the broker to take you to see houses with two bedrooms.  If your budget is $300,000, then there is no reason to be looking at houses in the $400,000 dollar range. A little more is ok, as price is always negotiable, but there is no reason to be looking way out of your price range. These little things turns into a waste of time and become very frustrating.

Related Posts:

1. 7 Days To Owning A Home: Day 1 – Your Credit

2. 7 Days To Owning A Home: Day 2 – Financials

3. 7 Days To Owning A Home: Day 3 – Where To Live?

4. 7 Days To Owning A Home: Day 4 – Where Do I Find My Dream Home?