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Am I doing the right thing? by Kathleen Corbett In the real estate industry you will find that there are many kinds of real estate agents out there, Listing agents, Sub-agents, buyer's agents, Single agents, and dual agents.
The agent that is showing
this open house is either the listing agent or a showing agent, both of these agents look
out for the seller’s interests not yours!
These agents would love for you to purchase this
house without you having any representation, because the agent would get the total
commission fee. In other words, you just paid that agent a fee for no representation!
For example, the house is listed to sell for $100,000, in that price of the house is the fee
for the listing agent. That listing agent agreed with the seller, if another agent brings in a
buyer, that listing agent will share the fee with that other agent. This is called a cooperating fee.
That other agent could be
a sub-agent for the seller or it could be a buyer’s agent for the buyer.
Before you look at any houses you want somebody looking out for your interest. Because
the fees are built into the purchase price of the house and you are going to pay either way,
why wouldn’t you want someone on your side. The only agent that can represent you fully
is a Exclusive Buyer’s Agent. Look for companies that oppose dual agency and are part of
the National Association of Exclusive Buyers Agent, (NAEBA). To be a member of this
association the company can NOT take any listings.
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Phone Number (401)725-5608 Fax Number (401)723-4377
Sincerely, ![]() |
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