There was a case where the buyer misunderstood the inspection deadline clause in the contract, almost resulting in losing their deposit. I was reminded once again that a single sentence's interpretation can lead to thousands of dollars in difference.

So, what exactly does an agent do? Broadly speaking, it includes the following:

• Searching for listings and confirming prices through Comparative Market Analysis (CMA)
• Drafting offers and negotiating prices and terms
• Reviewing the sales contract clauses
• Coordinating home inspections and appraisals
• Managing the overall closing process

Additionally, they provide information on local market trends and school districts (source: NAR). A common question is whether you must read the contract with an agent. As mentioned in the previous case, differing interpretations of a single clause can lead to significantly different outcomes, so I recommend reviewing it together.

After the NAR class action settlement in 2024, one procedure has changed. Starting August 17, 2024, the buyer's agent must establish a written Buyer Agency Agreement before showing a home. If the clauses are not read carefully, misunderstandings regarding the commission structure may arise later, making the agent's role in reviewing the contract even more crucial than before (source: NAR).

As of November 2025, the median sale price in the Albany area is $290,000, which is a 5.5% increase from a year ago. Properties are selling in an average of 55 days, and inventory is at just 1.1 months, indicating a seller's market where sale prices are forming at about 101.2% of the asking price (source: local real estate market statistics, as of November 2025).

Another frequently asked question is about property taxes. To reduce misunderstandings, it is essential to have these details accurately translated from the original contract into Korean. A Korean agent can go through each sentence in the contract and explain it in Korean.

In addition to questions about property taxes, I also inform clients that tax rates vary by county. Even within Albany County, the property tax burden can differ by town, so I recommend calculating the annual property tax along with the listing price rather than deciding based solely on the price.

Some families are looking for neighborhoods with good school districts, while others often ask about proximity to Korean churches or markets. Within Albany, these conditions can vary by neighborhood, and an agent who has lived in the area can provide more detailed guidance. Since school district boundaries change frequently, please verify the assigned school before purchasing.

If you are sending funds from Korea to secure a down payment, there are additional documents to check, including international remittance procedures and ITIN applications. If you are a non-resident foreigner, you will also need to confirm documents related to FIRPTA withholding. An agent familiar with these procedures can inform you in advance about which steps may take longer.

On closing day, there are several documents to check, including title insurance, loan documents, and the final settlement statement. For first-time homebuyers in the U.S., these documents can be unfamiliar, so I help by going through them one by one and encouraging you to ask any questions you may have.

Compared to buying a home in Korea, the monthly payment in the U.S. can vary significantly based on mortgage rates and loan terms. In a market like Albany, where inventory is limited, obtaining pre-approval in advance can often give you an advantage in offer competition. This process can also be unfamiliar for first-time homebuyers in the U.S., so it helps when an agent walks you through the steps with a mortgage broker.

When choosing an agent, it's also good to check if they can introduce you to reliable attorneys, mortgage brokers, and inspectors. This article is not investment or legal advice, and it is advisable to consult with professionals to review your individual situation before making any contracts.