inception-app-prod/ODljMDQxNjctNmM1MC00ZmYxLWE0ZTgtZjI3YmEzODBkOTFi/content/2021/02/newkologotransparent-2.png

KW Office: 814-272-3333, Direct: 814-272-6106

inception-app-prod/ODljMDQxNjctNmM1MC00ZmYxLWE0ZTgtZjI3YmEzODBkOTFi/content/2021/02/newkologotransparent-2.png
inception-app-prod/ODljMDQxNjctNmM1MC00ZmYxLWE0ZTgtZjI3YmEzODBkOTFi/content/2021/02/newkologotransparent-2.png

Hiring an Agent

WHY SHOULD I HIRE A REAL ESTATE AGENT?* 

Real Estate Agents are your guide through the real estate process so that whether buying or selling you know what is required by PA law, you understand local practices, and overall how to navigate the entire process successfully.

  • 88% of buyers recently purchased their home through a real estate agent or broker, and 5% purchased directly from a builder or builder’s agent. 
  • Having an agent to help them understand the home-buying process was what buyers wanted most when choosing an agent at 53%. First Time Buyers reported 80% wanting this from their agent.
  • 77% of buyers interviewed only one real estate agent during their home search.
  • 88% of buyers would use their agent again or recommend their agent to others.

*Highlights from the National Association of REALTORS® 2024 Profile of Home Buyers and Sellers

 

HOW DO I HIRE A REAL ESTATE AGENT?                                  

Seller Agent

Seller’s agents work exclusively for the seller and must act in the seller’s best interest, including making a continuous and good faith effort to find a buyer. All confidential information relayed by the seller must be kept confidential, except that a licensee must reveal known material defects about the property.

Buyer Agent

Buyer's agents work exclusively for the buyer, even if the seller pays them. The buyer's agent must act in the best interest of their client, including making a continuous and good faith effort to find a property for the buyer, and must keep all information confidential. They must disclose any known material defects about a property. 

Dual Agent

The licensee works for both the seller and the buyer. The dual agent may not take any action that is adverse or detrimental to either party but must disclose any known material defects about a property. A licensee must have written consent of both parties before acting as a dual agent.

Designated Agent

The Broker of the selected real estate company designates certain licensees within the company to act exclusively as a seller agent or a buyer agent. Because of this the Broker supervises both licensees and automatically serves as a dual agent. The designated agent is required to act in the applicable capacity explained above. Additionally, the broker has the duty to take reasonable steps to assure that confidential information is not disclosed within the company.

Transaction Licensee

Provides limited real estate services without having formal seller or buyer relationship with a consumer. Though no business relationship is created the agent is prohibited from disclosing some confidential information during negotiations.

*Note that confidentiality only applies once you have entered into a written business relationship with a REALTOR®. We will discuss these are our initial meeting where we discuss substantial real estate.

 

WHAT REAL ESTATE AGENTS OWE CONSUMERS                             

Regardless of the business relationship you choose from above, all real estate agents owe consumers the following.

  • Reasonable professional skill and care which meet the practice standards required by Real Estate Licensing and Registration Act for holding license
  • Deal Honestly and in good faith
  • Present, as soon as practicable, all written offers, counteroffers, notices and communications to and from the parties within the terms of contract
  • Comply with the Real Estate Seller Disclosure Law
  • Account for escrow and deposit funds
  • Disclose, as soon as practicable, all conflicts of interest and financial interests
  • Provide assistance with all document preparation and advise the consumer regarding compliance with laws pertaining to real estate transactions
  • Advise the consumer to seek expert advice on matters about the transaction that are beyond the licensee's expertise
  • Keep the consumer information about the transaction and the tasks to be completed
  • Disclose financial interest in a service, such as financial, title transfer, preparations services, insurance, construction and more at the time service is recommended or the first time the licensee learns that the service will be used
  • Discuss contractual terms that are negotiable between the licensee and the consumer

 

SELECT THE RIGHT AGENT

Find a real estate agent that you trust, communicate well with, and has the tools to work hard for you. Don’t select an agent because they are with a certain company or because they are a top producer. 

While both can be important attributes, neither guarantees a positive experience. Make sure to do your due diligence and interview multiple agents then select the one who understand your needs and has a work style you can appreciate.