It’s important that you choose an experienced agent who is there for you and knows the local market, especially when buying a vacation home around Lake Wallenpaupack or Lake Ariel. Your buyer’s agent should be actively finding you potential homes, keeping you informed of the entire process, negotiating furiously on your behalf, and answering all of your questions with competence and speed.
First, find an agent who represents you, and not the seller. This is beneficial during the negotiation process. If you are working with a buyer’s agent, he or she is required to keep your top price and negotiating strategy private. In addition, he or she is also focused on getting you the lowest asking price with the best terms possible.
With the availability of listings online, it sometimes seems to make sense to work with the listing agent until you find just the right home. There are several problems with this idea. First of all, you may not be contacting the listing agent when you hit “contact agent” on Zillow or Realtor.com or other portals; you will most likely be getting in touch with a random agent who has paid for “leads” (that’s you) in a certain zip code. That agent may not even know the area at all. Second, when working with a listing agent, please keep in mind that the agent’s first duty is to represent the seller above all.
Pennsylvania allows dual agency, and I sometimes end up representing both parties as a dual agent. I am required by law to remain a neutral party and advise as best I can without compromising either client’s negotiating position. It can be done but it can be tricky, and it requires the consent of both buyer and seller.
When buyers are looking for lake homes with certain amenities such as lake rights and boat slips, or if they want to potentially turn their home into a short-term rental (AirB&B, etc), it is extremely important to work with an agent who is experienced in the local market in Pike and Wayne County. While anyone with a PA real estate license is legally allowed to sell anywhere in Pennsylvania, local nuances are unique to each region, and for the best representation, use a local agent. Not all homes have boat slips that transfer with the property. Not all areas allow short-term rentals. If any of these items are important to you, stick with a local agent.