What is a buyers agent? why do I need to have one? and how do I get one? These are the questions you need to ask yourself if are looking to purchase real estate here in the Lehigh Valley.

The first time you meet with an agent, even if its looking at a property, they should present you with what is called the “Consumer Notice” This is a document required by the state of Pennsylvania whenever a substantive discussion occurs between you and a real estate agent. This is not a contract, but rather just as it is labeled – a consumer notice, the purpose of which is to explain the different kinds of relationships you can have with an agent. Yes, there are differences, BIG differences.

The first thing to note is that, according to state law, unless you establish a “business relationship” in writing, defining what type of relationship, if any exists between you and an agent, that agent DOES NOT WORK FOR YOU.  Just because you contact and agent, discuss your home buying needs, look at homes, etc that agent is under no legal obligation to work for you, or in your best interests.

Once you singe a business relationship document, form that moment forth, that agent is under legal, ethical and moral obligations to provide YOU with very specific duties and owes you a fiduciary duty to work specifically for you, and your best interests. He or she must put forth a good faith effort, disclose any and all information, advise you of the law, and owes you a duty of confidentiality.

This is part of the duties he or she now owes you, and establishes this person as YOUR Buyers Agent. If you are selling a home, then you would establish a ”Seller Agency” relationship.

There is difference, and this why you never want to look at homes on your own and then contact the listing agent, or the listing agents office. Why, BECAUSE THEY WORK FOR THE SELLER. They owe the same duties to the seller that your buyers agent owes to you!

The bottom line is that if you are looking to buy a home, contact an agnet immediately to meet with them, discuss your real estate needs, get prequalified, and establish a business relationship, so that now, you have a real estate agent working for you, and on your behalf. Now you can buy a home here in the Lehigh Valley with proper representation, and know that your needs are being met

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If you are considering buying a home here in the Lehigh Valley – NOW IS THE TIME. Contrary to what you may see or hear on the news, yes you can get a mortgage. If you have a job, a decent credit rating, and at least 3% down payment, there is a very good chance you can get a mortgage right now.

Interest rates continue to be at at all time low, home prices are down, the economy is in the tank, it is 100% a buyers market out there – for now. There is absolutely no better time to buy a house in the Lehigh Valley than today. The longer you wait, you risk prices and interest rates going up, especially if you wait until spring or summer. As it is, real estate is a seasonal business. It is always better to buy in the fall and winter, than to buy in spring or summer.

If you are a potential home buyer, almost everything is on YOUR side right now. But all than can change very quickly. Experts are predicting we are at, or near the bottom of the market. This means that at any moment things will start turning around. When that happens, it will cost you more money to buy a house.

If you would like more information about getting a mortgage or buying a house in the Lehigh Valley, I invite you to call me today to discuss your home buying options.

Chris Hoffman, Realtor
Keller Williams Real Estate
http://govalleyhomefinder.com
Cell: 610-533-4549

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Many of you probably have questions you would like to ask a real estate agent. Well, here is your chance! Simply post your Lehigh Valley Real Estate related questions here and we will forward them to a top Lehigh Valley Realtor for a reply!

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