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A. Role of the Real
Estate Broker
Frequently, the first
person you consult about
buying a home is a real
estate agent or broker.
Although real estate
brokers provide helpful
advice on many aspects
of home buying, they
may serve the interests
of the seller, and not
your interests as the
buyer. The most
common practice is for
the seller to hire the
broker to find someone
who will be willing to
buy the home on terms
and conditions that are
acceptable to the
seller. Therefore, the
real estate broker you
are dealing with may
also represent the
seller. However, you can
hire your own real
estate broker, known as
a buyer’s broker, to
represent your
interests. Also, in some
states, agents and
brokers are allowed to
represent both buyer and
seller.
Even if the real estate
broker represents the
seller, state real
estate licensing laws
usually require that the
broker treat you fairly.
If you have any
questions concerning the
behavior of an agent or
broker, you should
contact your State’s
Real Estate Commission
or licensing department.
Sometimes, the real
estate broker will offer
to help you obtain a
mortgage loan. He or she
may also recommend that
you deal with a
particular lender, title
company, attorney or
settlement/closing
agent. You are not
required to follow the
real estate broker’s
recommendation. You
should compare the costs
and services offered by
other providers with
those recommended by the
real estate broker.
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Equal Housing Opportunity