A Little Guidance through Real Estate
Show Me The Money & Where it is Won or Lost
* Information Is Power
THE MONEY IS WON OR LOST DURING NEGOTIATIONS so you better have as much information as possible. Have you every said, "I would have done things differently had I only known?" Ask a million questions if necessary.
If your agent shows impatience with your questions, RUN! Remember, this may be the biggest purchase of your life.
* Receipe for Success
In determine your real estate goals, consider your needs vs. your wants and keep them close.
Work towards both parties having a win. Sometimes giving a little win helps your taking big win on issues important to you. Try 'Throwing In the Shovel'. They may not even need a shovel but it may change how they negotiate with you.
* "Clarity is a Beautiful Thing"
When in doubt, write it down. When not in doubt, write it down anyway. A successful transaction requires everyone's clear understanding the agreement.
Your The Boss so Get Your Money's Worth
* Are you a Client or Just a Customer
You may be working with an agent, but does that agent work for you? If you are a Client, you are represented. If you are a Customer, you may not be represented. Make sure both you and your agent are clear about representation.
A Transaction Broker does NOT represent you. The service they profide is limited and they may not be able to provide key information you need. Would you like to know if a home has been on the market 30 days or 300 days? Of course you would. The law can be a funny thing so be sure everyone understands what is expected.
A Buyer's Agent represents the buyer and works for them. A Buyer's Agency agreement is required and establishes the agent's duties, compensation and obligations to the buyer.
A Seller's Agent represents the seller and works for them. A listing contract is required and establishes their duties, compensation and obligations to the seller.
Realtor or just a Real Estate Agent - Why Should I Care?
As a Realtor, we have a code of ethics that goes beyond mere legal requirements. A Real Estate agent who is not a Realtor, has not dedicated themselves to a higher code. The code so dear to me that I sit on the state committee enforcing the code.
3 Steps to Your Success
1) Hire a FULL TIME Realtor
2) Make sure they have proper incentive/compensation
3) Establish high expectations and Demand they meet them