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Things Real Estate Agent Need To Know Indiana

Real estate agents would say that the more you tell them, the better they can negotiate on your behalf. However, the degree of trust you have with an agent may depend upon their legal obligation.

Local Companies

Harvey Levin
317 590-8550
PO BOX 20738
Indianapolis, IN
Scott Hyatt, CCIM/Summit Real Estate
812-430-4989
420 NW 5th Street
Evansville, IN
Keller Williams Realty Leaders
(219) 864-5777
810 Deer Creek Dr
Schererville, IN
Lakeside Storage
(260) 668-7999
3845 N 300 W
Angola, IN
Remax Professionals
(812) 937-9900
39 N Kringle Pl
Santa Claus, IN
Watts & Watts Real Estate
(317) 613-4414
740 E 52nd St
Indianapolis, IN
Columbus Board of Realtors
(812) 378-2626
430 5th St
Columbus, IN
F C Tucker Emge Realtors
(812) 479-0801
7820 Eagle Crest Blvd
Evansville, IN
John Edward Real Estate Inc
(317) 888-2960
801 Ashton Park Dr
Greenwood, IN
Era First Advantage Realty Inc
(812) 838-1375
317 Mulberry St
Mount Vernon, IN

Some states require agents to disclose all possible agency relationships before they enter into a residential real estate transaction. Here is a summary of the three basic types:

1. In a traditional relationship, real estate agents and brokers have a fiduciary relationship to the seller. Be aware that the seller pays the commission of both brokers, not just the one who lists and shows the property, but also to the sub-broker, who brings the ready, willing and able buyer to the table. It most cases you will have 2 broker’s splitting the commission.

Dual agency exists if two agents working for the same broker represent the buyer and seller in a transaction. A potential conflict of interest is created if the listing agent has advance knowledge of another buyer's offer. Therefore, the law states that a dual agent shall not disclose to the buyer that the seller will accept less than the list price, or disclose to the seller that the buyer will pay more than the offer price, without express written permission. Many times it makes sense to “assign” someone in your office one side of the transaction, thus assures there is no conflict of interest.

A buyer also can hire his or her own agent who will represent the buyer's interests exclusively. Sometimes a buyer's agent must be paid out of the buyer's own pocket but the buyer can trust them with financial information, knowing it will not be transmitted to the other broker and ultimately to the seller. More often the seller pays both the selling broker and the buyer’s broker.

About the Author:

Christine Hancock began her real estate career proving herself a top producer on a new high rise development. This experience gave her valuable knowledge of construction as well as the buying process and resulted in 4-million dollars in sales during her first year.

www.getanewhome.net

chris@getanewhome.net


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Featured Local Company

Harvey Levin

317 590-8550
PO BOX 20738
Indianapolis, IN
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