After being approved for a home loan, the next step is to get a real estate agent. Real estate agents work to help you find the perfect home that fits your needs and your price. Real estate agents can work independently or for a company. Usually once the real estate finds you a home and the deal is closed, they will receive a commission of around 4-6% that they will split between themselves, the agency as well as the selling real estate agent and agency.

You can find real estate agents that do not take such a large commission, however they will require that you do all the leg work in finding the home and setting up financing.

What does a real estate agent do?

The real estate agent has a number of aspects that they handle. For example, they determine how much you can afford to pay for the down payment, help you calculate a monthly payment that you can afford, explain what type of financing is available to you, help find the house that you are looking for, arrange for appointments for when you can view the house, help in making the offer and recommend what prices to negotiate with and overall just handle and close the deal for the buyer. You will definitely want an agreement beforehand that states the agents commission rate as well as what they promise to help you with. Keep in mind that you can change agents down the road if the current agent is not working out.

How to Pick the Right Real Estate Agent

Asking friend and families for their recommendations is one of the best ways to find a real estate agent that will fit your needs. You will want to check with the Board of Real Estate Agents and the Better Business Bureau in order to make sure that the agent that you are considering is legitimate. Overall, you will want to pick someone that you care comfortable with since the home buying process can take months to complete.