Monday, May 07, 2007

Wilmington NC Real Estate

I have to admit that I've been very surprised that it has taken so long for people to start to use (and thus call forth the offering of) the services of buyers agents.

Buying a home is a classic piece of information asymmetry. The real estate agent is working for (and is paid by) the seller of the house, so both in law and in practice (despite the results from Freakonomics that of course there is an agent problem here and they're really working in their own interests) they are working for the interests of the seller.

As they arethe professionals who know and understand the market this puts you the buyer at something of a disadvantage.

So I'm interested to see that the wilmington nc real estate market does indeed support a buyers agent in the form of Coastal Carolina Properties. They act exclusively on behalf of the buyer (so that they take no listings for sales and thus can be fully on your side). This means that you have a professional who knows the market working for you, the buyer, rather than for the seller.

This corrects that information asymmetry and will alomst certainly get you a much better deal. Given that the wilmington nc real estate market is one of those still booming, as the region is one of the fastest growing in the country, this is most certainly something you'll want to look into.

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