•1) Agents work for the buyer.
When a buyer starts to work with an agent they are asked to sign an agency disclosure from NY State. This lets them know who the agent is working for.
On Long Island in most cases the agents are working as a seller's agent.. If you want an agent to work for the buyer they have to sign a Buyer Brokerage agreement.
2)
•1) They do not need a pre-qualification letter or a pre-approval from a lending institution.
If a buyer does not know what they are qualified to buy, they may be looking at houses in the wrong price range, Find a house they like, and the find out they can't buy it! Talk about a let down. Besides a sellers attorney will not let the deal proceed without a pre-approval or pre-qualification. This pertains to where attorneys are used in real estate deals.
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