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Disclaimer
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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