Do You Need A Real Estate Agent?
Filed Under (Real Estate) by admin on 26-12-2009
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Real Estate business has seen tremendous growth and so has been the need of Real Estate agent. Today more and more people are getting interested to become home owner and as the demand for real estate need increases the role of Real Estate Agent becomes more important. In the past one agent use to provide services to both seller and buyer but as the real estate market changed people started to realize that specialized service is more logical and beneficial. In Real Estate industry now buyer/seller are looking for specialized agents who can provide specialized related expertise, information and services required to complete the process. When a real estate agent represents both buyer and seller it really restricts agents to provide impartial service to either party.
Let’s look at the both (Seller/Buyer) scenario separately. A real estate agents who is a listing agent of seller has a fiduciary, ethically and moral duty to represent seller only.
By getting Exclusive Right to Sell Listing, the real estate agent is promising seller that he will live no stone unturned to market the home and find the best buyer at maximum possible market value for the home.
As a Buyer’s real estate agent he need to find the right home for buyer along with should all information of the community. When a buyer is exploring to buy a real estate property in new community, he is very much interested to find out several information related to that particular community such as population, crime, climate, schools, traffic, living standards etc. Buyer’s real estate agent should be well informed with all these information so that he can provide that information to buyer. It will be easier for buyer to make the decision based on these information. Once the buyer is ready to buy real estate property in the community then other part of the real estate agent’s duty starts. As buyer’s agent it is his responsibility to find a real estate property, as per buyers requirement. It is also buyer’s real estate agents duty to negotiate the best market price with seller.
So if seller and buyer are represented by their own specialized agent then both agents can play a partial and specialized role for their client..
So it is quite clear that one real estate agent representing both seller and buyer can not justify providing specialized service to both party. Both buyer and seller are in different need of services. That’s why specialized real estate service has become more in demand where buyer/seller can get impartiality specialized service during the process.
Never before has the role of specialists in the world of real estate been more important. With buyers and sellers requiring more services, the industry has seen an explosion of agents who specialize in either the representation of sellers or buyers. These specialist agents can provide a wealth of services and maintain a complete impartiality during the sales process as there is only one client to concern them.
Historically the sales transaction and the concerns of the buyer were the purview of a single realtor. However, as the industry has progressed so have the needs of each party and so the specialist arose. Buyers have some very particular needs, and specifically the need to feel that their best interests are seen to. Listing agents are representatives of the home’s owner and in that role they have a primary responsibility to that owner. How could they properly look after the needs of an interested buyer as well?
So what is it that a buyer’s agent does? Primarily the buyer’s agent will begin with the location of suitable properties for their clients. This is usually based upon a list of requirements and desires that the client has communicated to the agent. They will then arrange viewings and recap their findings with their clients and assist in deciding upon a good candidate for an offer. This will be based on the wealth of community information that a buyer’s agent commands. As specialists, they are experts on their given area which is critical in the education of clients on the areas that they are considering. Once a property is decided upon, the buyer’s agent changes significantly, evolving into an overseer-negotiator role. They will typically coordinate the inspections and conduct the negotiations with the listing agent. This includes the execution of the buyers subjects and the closing of the actual contract.
There is an art to representing a buyer. It is a role that has become ever more crucial in an industry where customer service is the single most important thing that an agent can offer. If you are in the market for a home then the buyer’s agent is the friend that you need to make sure that you are given the service that you deserve.
Watch the video related to real estate
The Housing Bubble bursts on a speculator. Parody using a clip with Hitler as the real estate investor. He bought a house to flip, faces foreclosure, and now wants to get bailed out. Parody Fair Use of clip. See: www.publaw.com/parody.html
Help answer the question about real estate
Can a real estate broker and a lawyer start a real estate company together?
My fiance is considering becoming licensed to sell real estate. I am a first year law student. I have learned a little about real estate transactions and how they work. I understand the roles of both the broker and the attorney, but I’m wondering if my husband-to-be and I will be able to use our skills together to start our own business. Will I have to have a separate practice, or can the real estate lawyer be a part of the broker’s company?
Lehman and aig stock…bwahahaha!!!
haha even Hitler doesn’t take foreclosure very well.
The license helps a little and hurts a little. When you make an offer, the seller will think that you have "insider" knowledge and he will think that he put the price too low.
But having the license allows you to easily track all the new listings as soon as they come on the market.
I think i would recommend against the license and just buy bank repo's. You can find them yourself. They are all posted at the County Recorders Office..
This is freakin’ hilarious! LOL Thank you for giving me a laugh that will last a really long time. I’m sending this to all my friends and family.
There often is a fee to cancel. You say it is not listed, but since you signed a listing agreement, that means listed. Do you mean there is no sign and it is not on any MLS sites?
Hey noneactive, are you in real estate? This is so funny because for us in the industry, we’ve seen this over and over, and now we know so many people that participated in exactly what the parody is about. It’s funny because it hits home on a personal and professional level.
Real Estate is LOCAL & it is different depending on the clients you market to. Meaning that what is acceptable and the "norm" in one area may be completely different in another.
Also, just because everyone else is doing one thing doesn't mean it's the "right" way.
Most of the 30 some odd agents in our office wear either suits, or Golf shirts and slacks type of attire…except the top 3 agents (one of whom is the broker).
We all wear Shorts and Flip Flops most of the time.
Most of my clients are pretty laid back, even my high end homeowners, so I can stay laid back. I got a lot of flack when I first got my license because I wasn't FORMAL, but after I closed more deals than anyone my first few months in, everyone got quiet.
On first time visits with Out of State Clients, who may not be Austin laid back, I sell out, I dress in slacks and golf shirt…for the first visit.
Know your area and dress according to your area & your clientele.
If your agent has a license in California and in Illinois, he can work under different brokers in different states.
As far as the split, you are paying the broker to work for you. The split that went to the agent is part of the agreement between the broker and the agent, not you and the agent.
Almost everything in lieu of amortization schedules, taxes and percents and stuff like that is all computerized now days. You used to need to be a math whiz, not anymore but it is on the state tests so it is like everything else. You do need to know it once, but then you can forget you ever learned it and go on happily with life after certification.
You only actually need an agent to sell, not to buy. But the paperwork will be a lot esier with an agent.
Call the bank advertising the house you want and ask them.
In today's legal environment, it pays to fully disclose everything.
This is one of the best ones… The football and other ones, most people dont get.. everyone gets this one
Well aren’t you fucking special.
“i was just following orders what a sick comment but funny ass good vid.
He’s right. Why are we bailing out environmentally-insensitive, self-obsessed McMansioners obsessed with consumer goods. They should pay for it
yes. if your license is active (even if not being used) you must still disclose. The selling public assumes realtors know more and have the upper hand in negotiations. (we generally do).
yeah I have to turn off the sound