In a home sale, both the buyer and seller are typically represented by an agent.
Selling agent: Agent to the buyer (you). Also referred to as a buyer’s agent.
Listing agent: Agent to the seller. Also referred to as a seller’s agent.
When a house is sold, the seller typically pays real estate commission to both the listing agent and the selling agent. It is extremely beneficial for the buyer to use their own real estate agent. Loan officers can often recommend selling agents in the area; ask your officer about realtor referrals when discussing your loan.
A good realtor will know the local market and can help you find an ideal home based on your budget, location and desired features. During your search, understand that you will most likely need to compromise on some items, so it’s important to identify your critical needs versus your wants.
At Arthur State Bank, our mortgage loan officers are available to guide you every step of the way with mortgage information personalized for your situation.
This is the fourth step in the First Time Home Buyer’s Road Map. Be sure to review the entire road map.