1. By using a real estate agent you can sell your home for more money and receive a higher return on your initial investment. You are probably asking how is this possible? First, a real estate agent has market knowledge on how to price your house competitively. Part of a real estate agent profession is to watch the market patterns and trends. They are constantly changing. Call one of our real estate agents today and receive a FREE comparative market analysis to see where your home is currently priced.
Second, a real estate agent sells properties on a full-time basis. Where as a homeowner already has a different full-time job. A real estate agent has time to answer phone calls, scheduled showings, direct potential buyers to qualified lenders for pre-approval, answer questions about your home, schedule a closing, etc…YOU, AS THE HOMEOWNER, WOULD HAVE TO START CUTTING INTO YOUR PERSONAL AND FAMILY TIME, FOR IT CAN BE LONG HOURS SPENT IN SELLING YOUR HOME.
Your time is Valuable and Priceless. Leave it to the professionals that have the time to sell your home.
Third, a real estate agent has access to advertise your home locally, surrounding areas, and nationwide, whereas, a homeowner only has access to advertise locally.
2. A real estate agent has training and knowledge on how to complete various contracts, forms, and disclosure statements required in a real estate transaction. As a homeowner do you have access to these forms and are you disclosing the material facts about your home? ALSO, REMEMBER IN ORDER FOR A CONTACT TO BE BINDING IT HAS TO BE IN WRITING AND SIGNED BY ALL PARTIES (BUYERS AND SELLERS).
3. Homeowners are emotionally attached to their homes; therefore their emotions get in the way of selling the house. A real estate agent can be objective, and can handle criticism on your home, and focus on how well your home suits a potential buyer.
4. A real estate agent can get a potential Buyer pre-approved by helping the buyer locate the best place to obtain financing. Part of a real estate agent profession is to keep in touch with local lenders and obtain information on various loan programs and current interest rates available to buyers. 5. A real estate agent knows how to negotiate and overcome objections when an offer is presented to the seller. An agent can handle negotiating counteroffers and/or contingences with a buyer without getting frustrated. AGAIN, THE HOMEOWNERS EMOTIONS MAY TAKEOVER PREVENTING THEM FROM COMING TO AGREEMENT WITH A BUYER DURING THE NEGOTIATING PROCESS.
6. FINALLY, a real estate agent will get a transaction finalized and closed. There is a lot involved in a transaction after there is a signed contract. The agent duties are as follows:
Provide the buyer’s lender a signed purchase agreement showing the sellers and buyers have come to a mutual agreement.
Get the abstract on the property updated or order title insurance to insure the property is being titled properly to the new homeowner.
Check with the lender to make sure the bank ordered an appraisal on the property and the property was appraised for more or equal to the purchase price stated in the purchase agreement.
Have the buyer obtain homeowners insurance prior to closing in order to supply an insurance binder to lender on the day of closing.
Find out who the sellers and buyers want to represent them for attorneys, if any, in this real estate transaction. The attorneys will exam the title work and write up the new deed to the property for the new owner.
Coordinate a date, time, and place for the closing with the sellers, buyers, banker, attorneys, and real estate agents involved with the transaction.
Have all repairs and inspections completed in a timely manner prior to closing.
Complete a sellers expense sheet to provide to the lender and attorneys to complete a closing settlement sheet showing the sellers payoffs and other closing costs involved with the transaction.
FOLLOW-UP WITH SELLERS AND/OR BUYERS CONSTANTLY TO FILL THEM IN ON THE DETAILS FOR PREPARING FOR CLOSING.
NOTICE TO HOMEOWNERS once a real estate agent lists your home, that agent agrees to represent you and act on behalf of the homeowner. The agent is required/owes the homeowner the following fiduciary duties:
LOYALTY – the agent will act only in the sellers’ best interest.
OBEDIENCE – the agent will carry out all sellers’ lawful instructions.
DISCLOSURE – the agent will disclose all material facts of which the agent has knowledge of and which might reasonably affect the buyer’s use and enjoyment of the property.
CONFIDENTIALITY – the real estate agent will keep sellers confidences unless required by law to disclose specific information (such as disclosure of material facts to Buyers)
REASONABLE CARE – agent will use reasonable care in performing duties as an agent.
ACCOUNTING – agent will account to Sellers for all sellers money and property received as agent.
SUMMARY When selecting a real estate agent, determine his/her role before you disclose any of your confidential information. Take the time to interview the agent and decide if this agent offers you the services you need. The important point is make sure you understand the role of the agent who is assisting you. If you want advice then you must engage the services of your own agent. This is one of the largest expenditures you will ever make, so why not protect yourself from the beginning with knowledge and advice?
