Determine when you want to sell. Do you have to be someplace by a certain date?
Determine how long the process will take.
Decide where you will be moving after the sale.
Do you need assistance finding an Agent in another area?
What do you need to do to prepare the property prior to putting it on the market?
Be sure you have a basic understanding of the entire selling process: putting the property on the market, showing the property to Agents/Buyers, negotiating and accepting an offer (from a qualified Buyer!), the Buyer’s inspection, the time between accepting an offer and closing, and moving out.
Find a top quality Real Estate Agent. This might be the most important thing you do. We recommend that you do not make this choice casually. Get referrals from people you know, note Agents that are active in your area, “interview” Agents and find out what they can offer.
Determine what things your Agent is responsible for and the things that you are responsible for. Sharing your expectations is very important. If you are buying a home as well as selling, be sure you discuss how that will work with the selling process. If you are moving in the same area, your Agent can probably help you with both the sale and the purchase.
Be sure to put your property on the market at a fair price — one that will net you top dollar, but be competitive so you avoid a long market time.
Make sure your property is easily accessible for Agents and their Buyers. If they can’t get in at their convenience (during reasonable hours), you will find it very difficult to get a sale.
If you have chosen a good Agent, understand the process, and communicate extensively with your Agent, this can be a fairly smooth and painless project.
Buying a Home
Agency – Who Represents Whom in a Real Estate Transaction
Before working with real estate brokers or agents in buying or selling a home, you should know that their duties depend on whom they represent. There are three types of relationships defined by law that a broker or agent can have with you. It’s important to understand the terms used to define these relationships.
If you are a prospective buyer, you should know that the broker who lists the property for sale or lease is the owner’s agent. A broker who acts as a subagent represents the owner in cooperation with the listing broker. A broker who acts as a buyer’s agent represents the buyer. A broker may act as an intermediary between the parties if they give consent in writing. A broker can assist you in locating a property, preparing a contract or lease or obtaining financing (Top Ten Things to Know When Buying Commercial Real Estate for Business Owners)
without representing you. A broker is obligated by law to treat all parties honestly.
When the broker represents the owner – The broker becomes the owner’s agent by entering into an agreement, usually through a written listing agreement. A broker may also become an owner’s agent by agreeing to act as a subagent by accepting an offer of subagency from the listing broker. A subagent may work in a different real estate office. A listing broker or subagent can assist the buyer, but does not represent the buyer and must place the interests of the owner first. Buyers should not tell the owner’s agent anything they would not want the owner to know because this information must be disclosed to the owner.
If the broker acts an intermediary or dual agent – A broker may act as an intermediary between the buyer and seller if each party gives consent in writing. The written consent must state who will pay the broker and, in conspicuous bold or underlined print, state intermediary obligations. A broker who acts as an intermediary in a transaction: 1) shall treat all parties honestly; 2) may not disclose that the owner will accept a price less than the asking price unless authorized by the owner in writing to do so; 3) may not disclose that the buyer will pay a price greater than the price submitted in a written offer unless authorized in writing to do so by the buyer; and 4) may not disclose any confidential information or any information that a party specifically describes in writing not to disclose unless the information materially relates to the condition of the property. With the parties’ consent, a broker acting as an intermediary between the parties may appoint licensed agents to each party who are associated with the broker to communicate with and carry out the instructions of each party.
If the broker represents the buyer – In order for a broker to represent a buyer there should be a written agreement that clearly establishes both parties obligations, including how and by whom the broker will be paid. You have the right to choose the type of representation, if any, you wish to receive. Your payment of a fee does not necessarily establish that the broker represents you. If you have any questions regarding the duties and responsibilities of the broker, you should resolve these questions before proceeding further.
Article Source: http://www.ameristar-realty.com/services.html
Comments on this entry are closed.