If you decide to buy the house without an agent:

1. Your choices will be very limited

2. You can only buy homes that are "For Sale By Owner" (FSBO)

3. Mostly the selling prices of the FSBO homes may be equal to - or higher than

those listed by agents.

4. You may find it difficult to make a determination whether or not the house is

worth the asking price.

In most cases the seller, not the buyer, pays for the commission for the sale of a home.

Here is the list of what you should look for when qualifying your Real Estate Agent

§ Is your agent active in your area at this time?

§ Has your agent had a history of successes in the past?

§ Have you worked with the agent in the past or do you know someone who has

worked with the agent and what did they think about the representation?

§ Makes you feel comfortable and confident where others are anxious or pressured?

§ Specializes in areas where you live, or want to live?

§ Answers your questions promptly and responds to your calls fast?

§ Informs you of new listings (if you're a buyer), or sales progress (if you're a seller)

and suggests new strategies as the listing period progresses?

§ Helps you become a pre-qualified buyer to ensure the best financing?

If you are a first time home buyer or choosing a new agent, you will have to be selective

in choosing a home, skilled in negotiating the price, inspecting it to avoid problems and

gather information for an effective close.

Agent's Name: _____________________________________________

Phone Number: _____________________________________________

Email Address: _____________________________________________

Website Address: _____________________________________________

Additional Comments: _____________________________________________

Do you have a list of home inspectors, insurance agents and reputable lenders

for me to consider?

Why should I hire you? How will you help me save money and how will you

protect my interests?

Will there be a written contract?

Will you have any clauses in the offer to protect us as buyers?

How many buyers have you successfully represented in the last six months? Can

you give me a reference of some of your recent buyer clients?

Prepare a comparative market analysis and marketing proposal.

Give your property the broadest marketing exposure possible.

Prepare a descriptive brochure about your property, with photographs and

attractive description of benefits and features.

List your property on the Multiple Listing Service and on the Internet.

Create Virtual Tours to market your listing over the Internet.

Hold an open house for the local real estate agents as soon as possible after the

property is listed for sale.

Keep you informed about local market conditions.

Follow-up on the showing and give you feedback from agents who showed your

home to potential buyers.

Give you suggestions on how to improve the marketability of your home and

advice you to reduce the price if market conditions indicate it.

§ Real Estate Broker: Licensed by each state to act as agents for principals in real

estate transactions.

§ Associate Broker: Has a broker's license and can work unsupervised, but

chooses to work under the auspices of another broker.

§ Real Estate Agent: Licensed by the state to act as agents for principals in real

estate transactions, but must work under the supervision of a broker.

§ Realtor ®: A member of the National Association of Realtors (NAR), a national

trade association for real estate agents, with a code of ethics. Not all agents are

Realtors.

§ Transaction Broker: Someone who represents neither the buyer nor the seller,

but who is employed to help the buyer and seller reach an agreement. This

person is a mediator who does not owe a fiduciary duty to either the buyer or the

seller.

§ Dual Agent: Represents both the buyer and the seller in the transaction. This

must be disclosed and agreed to by the buyer and seller in advance to be legal.

§ Exclusive Agent: Represents one principal exclusively in a transaction.

§ Buyers agent or broker: Represents the buyer exclusively in the transaction and

owes them allegiance.

§ Listing agent or broker: Represents the sellers exclusively in the transaction and

owes the allegiance.

§ Selling agent or broker: Writes the offer for the buyer who purchases the

property, but may not represent the buyer.

§ Accredited Buyer Representative (ABR)

§ Certified Residential Specialist (CRS)

§ Certified International Property Specialist (CIPS)

§ Graduate, REALTORS® Institute (GRI)

© 2005 PropertyMinder, Inc.