Lots of transactions today are not so straight forward. This statement is not referring to any form of dishonesty in these transactions. Rather, it is made in the understanding that in a number cases, there always is a complicated system to navigate.
Just look around you, in all substantive areas of life, be it legal matters, financial matters, business matters etc. There is always a complicated system in place, and for you to efficiently navigate these areas, you will have need of a professional in that field.
Property transactions are a major area where an individual will need the services of a professional to help them navigate through the process.
Real Estate Brokers
Generally, these are people who are licensed by the state to function as agents who represent people by helping them negotiate and wade through the whole process of buying and selling of properties (primarily real estate). Such a person might either function as a broker or as an agent of a licensed broker. You can read more about them here: https://en.m.wikipedia.org/wiki/Real_estate_broker.
There are different sub categories of those in this profession depending on their functions
- Seller’s Agents: They are more popularly known as listing agents. They help owners who have put their property up for sale find buyers.
- Buyer’s Agents: These ones do the direct opposite of what seller’s agents do. They help buyers tips for first time home buyers locate and facilitate the acquisition of properties that they are interested in. To learn more, check out these tips for first time home buyers.
- Dual Agents: These ones are able to function in both the selling and the buying capacity. However, in other to prevent a situation where there’s a clash of interests and to limit any possible blow back from either clients, they have to sign a Dual Agency Agreement.
- Transaction Brokers: These brokers may not be referred to as agents in the real sense of the word because they do not owe their clients any fiduciary duty (duty to act in good faith). They are basically facilitators who just help to see out a deal especially as regards preparing the legal documents in the final stages of a transaction.
Who are Realtors?
It is important to note that what distinguishes a Realtor from the rest is that such a person has to be a member of the National Association of Realtors. Thus, though they can be generally classified as estate agents or brokers and are generally in the same line of business, they are an exclusive and elite group of their own within the profession.
They are the aristocrats of the real estate profession. You can find out more about this here.
Why Pick a Realtor
As earlier stated, they are professional members of an association with a strong code of ethics that must be adhered to by its members. Therefore, you as a client stand to gain more when you engage their services for the following reasons
- Ethical Relationship: There is a strong code of ethics that must be adhered to by its members. This is hinged on professionalism and protection of their client’s interests. Therefore, you as a client can rest assured that you are the primary obligation of the realtor.
- Professional Guidance: As earlier stated, property purchases, be it land or a house, are usually quite technical, requiring loads of paper work. Having a professional to guide you through the process is very crucial to avoid mistakes and to be able to get the best deals available.
- Objective Analysis and Information: Being a national network, they are usually privy to loads of information on lots of available amenities and properties around. They are also able to give you a breakdown of what is available or obtainable in certain environments and what is not. They may even be able to give you information on areas that might turn out to be more suitable for your needs that you were not aware of.
- Great Negotiators: They are able to look at the different aspects of an offer you get or deal you are about to make and give you valuable insight on things you might not have thought of that may strengthen your bargaining power. This ability is also seen from how your realtors can craft an agreement for you that suits your particular need.
- Up-dated Knowledge: Laws change, procedures get updated and whole systems can be reviewed. Having someone who is up to date with the latest available information can make a whole lot of difference for you especially as it relates to avoiding bad deals or mistakes.
The few points above explain why you need a realtor to guide your real estate deals.
How to Choose a Realtor
Having been informed of its benefits, the ultimate decision maker is you, the client. Here are some guides on how to go about choosing the right realtor for you.
- Understand What You are Looking for: The type of deal, purchase or agreement that you are about to make influences or can even determine the type of person you want to represent you while making these deals
- Ask for Referrals: Ensure that you use your trusted referral networks to get recommendations because they will most probably direct you properly. You can also make use of their National database for inquiries
- Review Their Credentials: It is not out of the ordinary to find agents posing to be what they are not. Credentials and qualifications never lie so be sure to always do your due diligence.
- Ask Specific Questions: This is necessary because, you want to know if the realtor has the competence to handle the specific matter at hand.
By carefully following the tips given above, you will be able to find the right fit. Thankfully, there are reputable firms like https://scottandlisahomes.com/ that you rely on for matters like these.
It is said that whatever that is worth doing, is worth doing well. This saying is so apt with regards to real estate transactions. For most, people such purchases are the most obvious accomplishments of their lives. This is precisely why you need the services of a realtor and a good one at that.