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Top 100 Things a Realtor Does for You When Buying a Home. Part 3

Top 100 Things a Realtor Does for You When Buying a Home. Part 3

 

“What you can do, or dream you can, begin it; boldness has genius, power and magic in it.”

~ Johann Wolfgang von Goethe

Here we continue with the list of advice and tasks a Realtor performs on your behalf. Communication with your agent is critical to your success. She is your guide and partner in the process of securing your new nest. There needs to be trust between the two of you. Your Realtor is the person in charge of your transaction. She does this by making sure you are protected by the contract you write, as well as ensuring you have chosen a good home for yourself.

51. Continue refining property search criteria as buyer’s needs may change.

52. Investigate history of properties of interest to the buyer in terms of past sales.

53. Obtain tax assessment and plat on properties of interest.

54. Explain how to file for exemptions from property tax, such as homestead.

55. Explain how to appeal property tax assessment.

56. Check if building permits were issued on electrical, decks & other past upgrades.

57. Notify buyer of price changes and status changes on properties of interest.

58. Make buyer aware of any historic district, or area restrictions, or easements affecting the property.

59. Contact seller’s agent to determine status of property, if there are offers pending, as well as gain and understanding of the   seller’s position.  This ensures you are able to put together a “win-win” offer for both yourself and the sellers.

60. Provide research data to buyers on all current active homes for sale near the subject property.

61. Research MLS for sales activity for past 3 months.

62. Study “Average Days on Market” for this property type, price range and location.

63. Offer an opinion as to the market value based on comparable market analysis of property of interest to buyer.

64. Identify the seller’s position in terms of points they may be likely to negotiate upon.

Pink Kitchen design by Colin & Justin Design

Pink Kitchen design by Colin & Justin Design

65. Identify the buyer’s position in terms of points they may be willing to negotiate upon.

66. Offer strategy on best way to craft an offer which is a “win-win” for all parties

67. Point out best and worst case options, and determine where buyer is willing to compromise.

68. Educate buyer on ways to add value to their offer outside of the offer price.

69. Describe options for negotiation.

70. If a home needs to be sold in order to purchase a new one, clarify how to structure the offer.

71. Assist client in securing a top quality Realtor in another city if client is relocating.

72. Educate buyer on home inspections and other general contingencies available in an offer.

73. Educate buyer on appraisal and financing contingencies.

74. Give details on the home inspection process. Discuss the criteria used to determine what seller is responsible for fixing.

75. Through the tax and public property records verify legal names of owner(s).

We’ll continue on soon with more benefits of working with a professional Realtor. Let me know if you have questions at any point along the way.

EnJOY and blessing,

Francesca

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Comments

Francesca says:

Hi Valeria,

Great question! Dual agency is often misunderstood by home buyers and sellers. It occurs when a home is listed for sale by a real estate agency and both the listing agent (who represents the seller) and selling agent (who represents the buyer) work at the same company. The broker/owner of that agency is acting as the dual agent in the transaction. However both parties to the contract have their own representation with their own agents. It simply needs to be disclosed and agreed upon by the sellers and buyers for the transaction to occur. If buyers and sellers fail to agree to dual agency they are limited by the number of agents who can show their property, and to the number of prospective homes they can show to buyers.

In my opinion dual agency is a good thing and something all home buyers and sellers should agree too.

Hope that helps!

Francesca