When Buying a Home, the first thing you should do, even before you make your first

call to a real estate agent, is to fully understand the type of relationship you

will have with the agent. You need to know whether the agent is working for you

as a client or merely with you as a customer.

The real estate agent represents someone in the transaction. The question is -

"Who does the agent represent?" The North Carolina Real Estate Commission has

produced an informative brochure meant to protect consumers. The "Working With Real Estate Agents Brochure" explains who a seller's agent, dual agent, and buyer's agent represent in the transaction.

Every real estate agent is required by the North Carolina Real Estate Commission to

present and explain the brochure with those seeking the services of a real estate agent.

When buying or selling a home, you need to know the real estate agency representation

to which you are agreeing to.

An agent who is working at a new home construction site is typically working for and

representing only the seller. Their loyalty belongs to the seller. That agent is obligated

to gather as much information as possible about you in order to assist the seller in

profiting from the transaction.

If you contact a real estate agent listed on a "For Sale" sign, they too represent

and serve the seller. That real estate agent will make every effort to

capture as large a profit as possible for the seller.

These real estate agents prior to showing you any property or home are required by North Carolina Real Estate Law to discuss and explain the "Working with Real Estate Agents Brochure".

As a buyer, under such circumstances, you are not represented. Only the seller

is represented. If a home buyer wishes to be represented, the home buyer will seek a buyer's

agent. In this case, you will seek a buyer's agent and enter into a "Buyer Agency

Agreement" with the real estate agent.

The services of a buyer's agent are often at no cost to the buyer. The real

estate agent agreement defines the compensation terms. The agreement should clearly

spell out who is compensating the buyer's agent. As a buyer,

seek agreements which state compensation will be paid by the seller only.

Under these circumstances, the real estate agent will serve you at no cost

to you. The seller's agent (firm) is glad to compensate the buyer's agent. After all, the

buyer's agent was largely responsible for the sale.

In summary, a buyer's agent provides you professional advice and counsel throughout

the entire purchasing process at no cost to you.