Buying a home may be the largest purchase for a family during their lifetime. Picking the correct real estate agent can eliminate many problems involved in the process.
Real Estate Agents Work on a Commission Basis
Real estate agents are not paid a salary. They work on a commission basis. They receive a commission only if they’re successful in selling the house.
Try to Obtain a Recommendation
The best way to find a competent and honest real estate agent is to ask your friends, family members, attorneys, accountants or other individuals who you respect for recommendations. You should practice due diligence and interview two or three real estate agents before deciding on one to represent you.
Real Estate Agents Represent the Sellers
A real estate agent is the agent of the seller. The real estate agent does not represent the buyer. They may appear to be your friend but be careful, what a real estate agent is primarily interested in is earning a living by selling homes.
Sellers Beware
Real estate agents, upon meeting with the prospective seller, want to obtain the listing. The agent will receive a commission even if he or she does not show your home. One of the things an agent may say to you in their first meeting is “I believe I have a buyer for your house”. This is a sales pitch. They may have a buyer who wants a house in your town, but they have no idea they want your house in particular. Another sales technique involves the agent telling you that they have obtained a great offer. However, this offer may be far below what you seek to obtain from the sale of your house. Remember, if a perspective purchaser makes you an offer and it is below what you want, you can make them a counter offer and meet them halfway or three quarters of the way to the price you want.
Buyers and Sellers
Buyers and sellers have different interests. A seller wants to get as much for his or her home as possible. The buyer wants to pay as little as possible. Both of them may be dealing with the same real estate broker. This may create a conflict of interest.
Real Estate Brokers Recommending Lawyers
The real estate broker you go to may recommend a lawyer to handle the real estate transaction. The broker may say this lawyer is affiliated with our office and he or she will give you a good deal. The issue you must look into is whether that lawyer really has your best interest at heart or is the real estate broker’s best interest his or her main concern. Real estate brokers refer lawyers to their prospective clients who they know will protect them with regard to their commissions. In most situations, you are better off having an independent lawyer that you obtained from another source.
Metropolitan New York Foreclosure Defense Lawyers
The New York City and Long Island foreclosure defense lawyers at the Law Offices of Schlissel DeCorpo can help you if you have a foreclosure problem. Our foreclosure defense lawyers litigate defective mortgages, defective foreclosure lawsuits, predatory lending and all other types of real estate related matters. We can explain the federal laws on foreclosure and how they affect you. We attend foreclosure court conferences for our clients.
In the appropriate situation, we will discuss foreclosure related bankruptcy issues, such as filing a Chapter 7 and a Chapter 13 bankruptcy with you. In bankruptcy situations, there is an automatic stay that goes into effect, ordered by the court, that stops foreclosure from moving forward. In some bankruptcy situations, we can eliminate second mortgages. At the end of the bankruptcy, we can assist you inre- establishing your credit.
Feel free to set up a free consultation with us. We will discuss your foreclosure options with you. Thank you for visiting our foreclosure blog.
