Friday, 04 28th

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Agency and Salesperson Responsibilities

Last Updated on 10 October 2014 Published on 17 October 2014 Phil
Hits: 1667

An agent is "responsible" to their clients.  They have a duty, called a "fiduciary duty."  This means the agent is responsible to act in the best interests of their client.  A car salesman does not have to act in your best interests -- they just have to sell the car.  It isn't that simple for real estate agents.

Real estate agents not only have to sell the house, they have to be

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Resolving Disputes With Your Agent

Last Updated on 24 October 2012 Published on 18 December 2012 Phil
Hits: 1560

There are times when you and your agent have a disagreement that you cannot resolve by yourselves. Maybe the agent did a poor job or misrepresented something. Maybe your agent was really doing their job correctly, but you did not understand. Perhaps the agent will have a dispute with you.

The listing contract specifies what methods will be used to settle such disputes. You can choose to

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Lockbox's

Last Updated on 24 October 2012 Published on 11 December 2012 Phil
Hits: 1753

A lockbox is a basically a padlock with a cavity inside where a key to your house can be placed. Only someone with a key (electronic or mechanical) or the combination can get into the lockbox and access the key to your house. Having a lockbox available at your house makes it easy for other agents to get access to your house.

Without the lockbox, agents representing buyers would have

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MLS - Contracts

Last Updated on 24 October 2012 Published on 27 November 2012 Phil
Hits: 1680

Your listing contract should specify whether or not the house will be listed with the local MLS (multiple listing service). It is definitely in your interest to have the house listed. This is because your sales force is automatically multiplied by however many agents are members of the local MLS. If your house is not listed, then you only have one agent working for you instead of many.

This is where

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Commission

Last Updated on 24 October 2012 Published on 20 November 2012 Phil
Hits: 1694

In most areas there is a "customary" percentage that real estate agents and companies expect to earn as a commission. The percentage varies from region to region, and depending upon whether it is residential real estate or commercial real estate. However, just like anything else in real estate, this amount is negotiable. When completing the listing agreement, you

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Pricing and Terms

Last Updated on 24 October 2012 Published on 13 November 2012 Phil
Hits: 1572

When setting the terms of sale, the main thing you are concerned with is the price. You should have a basic idea of what your home is worth by keeping track of other sales in the neighborhood. Plus, you have probably interviewed at least two real estate agents and they have given you their own ideas. Exercise great care in determining your asking price, making sure not to set it

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