HOW ARE BUYER'S AGENTS PAID?Fist of all, the Buyer does not normally pay for the Buyer's Agent services . In the vast majority of cases, the seller of the property pays my commission.Here is a summary of how this works:
  • The Seller list their home with a Real Estate Broker and agrees for the Broker to advertise the home on the MLS
  • The home Seller agrees to a commission as part of the listing agreement
  • The home is listed on the MLS showing an amount or percentage to be paid to any Licensed agent/Broker who brings a buyer they represent
  • Upon closing, the full commission is paid to the Broker listing the property whether they represent the buyer and the seller or just the seller
  • If there was an agent/Broker representing the Buyer, the Seller's Broker splits this commission with the buyer's Broker as agreed upon in the MLS
For more detail on this process please click this link.WHY SHOULD I USE A BUYER'S AGENT AND WHAT IS BUYER'S AGENCY?
 
When selling a home, most people will engage the services of a real estate agent to help them. But do you need an agent when purchasing a home as well? The answer is a resounding YES, especially if you are a first time buyer. Using a Buyer' Agent (otherwise known as agreeing to a Buyer's Agency with a Buyer's Agent) is one of the best ways to take a lot of stress and work out of the home buying process while ensuring your best interests are being served. Here are just a few ways that a Buyer's Agent Realtor can help you with one of the most important purchases of your life:1) Realtors know the process - buying a home is more than just finding what you want; an agent will take you step by step through the entire process: from getting pore-approved at your financial institution to getting an inspection, to picking up your keys on closing day. A realtor will be able to anticipate any bumps along the way and smooth the way to a successful closing.2) Realtors are negotiating power-houses - an important part of their job is to negotiate the best price they can for you and make sure you don't pay a penny more than you should. Just because a seller is asking a certain price, doesn't mean you have to pay it.3) Realtors know the contracts - they will go over all the clauses in the contract and explain exactly what you are signing and why. If you don't understand something, a realtor will explain it until you do.4) Realtors know the neighborhoods - you may find that perfect house, but if you want to know more information about the schools in the area, the crime statistics or what future development may be taking place in that area, your realtor can research this information for you or at least point you in the best direction to find this information.5) Realtors work in your best interest - When you sign a buyer's agreement with a realtor, they work for you getting you the best price for your dream home.6) MLS - realtors will be able to tell you as soon as a home comes on the market that is within your specifications. The website that the general public has access to is a few days behind what the realtors have access to. You can receive hot new listings every day before everyone else does. This can give you a significant advantage over other buyers.7) You don't pay them a cent- realtors are generally paid from the seller, so there is normally nothing out of pocket for you as the buyer - how cool is that? Make sure to inquire about an, "Admin fee," or any other Broker-related fees when working with an agent, some companies do charge a $200-$300 fee to anyone they represent (whether buyer or seller) to cover the cost of handling paperwork and misc. office expenses. This fee has never been charged by HWY 212 RE, LLC and never will be - but be sure to ask about any additional fees if you are working with another agent.8) They are your coordinators once you put an offer on a home, they will act as your liaison with your financial institution, your lawyer, and your home inspector. They will make sure that everyone has what they need in order to complete their part of the transaction. They don't stop working until you are moved in to your new home and are satisfied that everything is as it should be.Having a real estate agent by your side has many benefits and they will ensure that you have a smooth, safe, pleasant experience when buying your next home. Don't be afraid to hire an agent when buying a home; it is just as important to have a buyer's agent on your side as it is when selling.

 

WHY SHOULD I GET A MORTGAGE PRE-APPROVAL? Getting a pre-approved mortgage is a great way to get started. With a mortgage approval, you will be in a better position to negotiate with sellers. You will also be able to close on a property quicker than other buyers. This shows the seller how serious you are about the property, and it will make the seller more comfortable working with you. In a "seller's market," or where supplies are limited, a pre-approved mortgage is essential.

WHAT DO I NEED?

If you decide to apply for a mortgage, you will need to supply information with regards to your income, expenses, and obligations. For a full list of the items you need to bring, please contact us. Got bad credit? That's okay. Many lenders will help you find a solution to your credit problems. We work with various mortgage companies that can help you. Thinking of going with FHA financing?? Act Quick, FHA mortgage insurance rates go up in April and in June FHA will start requiring new borrowers to pay FHA mortgage insurance for the life of their loan, so you will want to be under contract by these dates if you are looking to go the FHA route.READY TO START LOOKING FOR THAT NEW HOME? There's nothing we take more seriously than helping people find new homes they love. We'll also spend time learning your personal real estate needs, based on:
  • Your preferred price range
  • What style of home you want
  • What area(s) you want to look in
  • What extras you would like
  • Determine what you will qualify for
  • Your preferred down payment
  • Your preferred monthly payment
  • Which types of finance are best for you
  • How you can get a mortgage

 


Hwy 212 RE LLC - Kris Schade - 13337 Nevada Ave - Savage, MN 55378
Phone: 9522376497   Email: mnre@comcast.net

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