Many things in real estate aren't exactly self explanatory. Over the past month I have had conversations with three first-time home buyers who didn't realize that I could show them any house listed by a Realtor in the Harrisonburg and Rockingham County area.
As I stopped to think about it, I realized that many people who have never bought a home may not realize that fact. So here's how it works...
- When a homeowner works with a Realtor to market and sell their home, the homeowner and Realtor negotiate and agree upon a "brokerage fee" -- the amount of money that the homeowner will pay the Realtor upon the successful sale of the property. This is often a percentage of the sales price.
- Almost always, the homeowner and Realtor agree that if a different Realtor finds and represents the buyer for the home, that the brokerage fee will be split between the Realtor representing the seller, and the Realtor representing the purchaser.
- As a result, systems exist (MLS, lockboxes) to allow Realtors representing home buyers to be aware of and have access to all homes on the market.
- So -- while many contextual clues (for sale sign, brochures, other advertising) might suggest that you MUST call the Realtor, representing the homeowner, in fact, that is not true at all. You can call any Realtor.
- To bring it all together --- I can show you any house that you see that is for sale.
- And, of course, any other Realtor can show you those houses, including my listings.
Clear now? Any questions?