If there is one element of homebuying you should think twice disregarding, it’s the real estate agent. Although seasoned homebuyers prefer to skip professional help in the hopes of cutting costs, first-timers are always advised to get the best help they can get to avoid making costly homebuying mistakes. And to help you learn more about this type of real estate professional, here is an info-guide that you can use as your basic reference when buying a Miami real estate property.

Three real estate professionals

The real estate agent is but one type of professional that you can use to help you purchase a Miami real estate property. The agent, however, is more likely the person whom you’re going to hire when buying the home. Agents can either be associated with brokers or independent.

The broker, on the other hand, usually runs a real estate agency and acts like an agent as well. Brokers are higher than agents in the real estate food chain. And when you hire a franchised broker, you will have the benefit of accessing national ad campaign. That is, if you are a seller. Still, brokers are tremendously useful for buyers because of their network of connections to other crucial professionals.

Realtors are also agents and brokers but they belong to the state Board of Realtors, which is affiliated with the National Association of Realtors or NAR. You always capitalize the R at the beginning of the Realtor since the term is a trademark designation. Realtors sponsor the MLS which is used to list houses that are for sale.

Agent Fee

The main issue why many homebuyers prefer to skip the services of the agent is the fee. Another issue is trust and loyalty. For instance, although you are purchasing the home alone, if the seller is using an agent, you might be forced to use the agent’s services as well. But if you hire your own agent, you can rest assured that your agent will only be working for you and no one else.

As for the fee, keep in mind that as the buyer you are the only person putting in cash to the transaction. This means that even though the seller is the one who must give commission to both agents, technically you are still the person paying for both. Nevertheless, the fee you pay for the buyer’s agent will be worth the services he or she provides to help you purchase the Miami real estate property you want.

Mark Michael Ferrer

Miami Real Estate