subject: Basic Info About Miami Beach Real Estate Agents [print this page] Exclusive Agents Exclusive Agents
In the past, almost all agents are considered both buyer and sellers agent. Nowadays, these dual purpose real estate professionals turned into exclusive agents. If youre looking for a Miami Beach real estate property, you may notice a separate set of agents: one for buyers and one for sellers, also known as listing agents. Why did this happen? Well, for starters, dual purpose agents are at risk for conflicts of interests. Since they are representing both the buyer and seller, it will be particularly difficult to protect individual interest.
The good news about exclusive agents is that they are geared towards protecting your interests. If youre buying a Miami Beach real estate property, your agent will protect your interest during negotiation and the closing. Aside from that, they will be greatly helpful when it comes to inspections and other requirements of home-buying. They are efficient in assisting you with any of your paperwork in order to close and finish the deal. Yet on top of these advantages comes a major pitfall: money.
Payment
If you're one of those savvy homebuyers, you must have research about the agents fee. In case you dont know, the buyers agent is paid by the seller. The total commission, usually around 2 to 3.5 percent, is divided by the listing and buyers agent. Now, this might seem a great benefit for the buyer, but if you read carefully, youll realize that the commission is actually wrapped in the house price.
And who pays for the home? You, of course. Oftentimes, the seller will factor in the commission of the agent when pricing the house. This way, they dont have to worry about reducing their gain. Typically, the funds for the agents commission will come off from the seller, which henceforth creates an illusion that the seller pays. In essence, you, the buyer, are the only one bringing money the finish the deal.
This shouldnt scare you away from hiring a buyers agent. Home-buying is a serious matter and there are a lot of considerations. The price you pay for completing the Miami Beach real estate purchase is small compared to the invaluable help your agent can provide.
