Expert: Sue Bernstein - 7/1/2008

Question
Hello Sue, my new wife and I are going to be buying our first home here very soon. Just so you dont waste your time writing a journal about first time home buyers' options, what I really want to ask you is in regards to a home I found without the help of a realtor. I am wondering if it will be easier for us to get a realtor to handle all the paperwork and inspections and yada yada rather than doing everything ourselves. Also, what should I expect to pay her or him if I do hire? What types of questions should I be asking that person and if I give her an in on a home priced below market value, what are the code of ethics for her to follow? Will she be able to list the house and sell it out from under us or will she generally try to do what is best for us? I have done consruction and landscaping and know about houses and land, so those questions are easy for me but when it comes to the paperwork side of the deal, thats where I need help.
thanks for your time,
adam

Answer
Dear Adam,

You definitely should be represented by an agent.  How that agent is compensated is whatever you work out.  It would be totally unethical for the agent to list the house and not represent you to the fullest.  Many times agents will get a 1 party listing from fsbo's and the agent would have every right to go after the listing once you are no longer part of the picture.  Be careful in choosing your agent.  Try and get a referral from someone you know and trust. Interview the agent and ask the same questions you are asking me and once you are comfortable with the agent you can then give them the property information.  

Hope this helps.

Sue Bernstein