Real Estate Matters
By Elisa Jo Eagan
It’s a beautiful day in the neighborhood, as Fred Rogers used to say.
Finding the perfect place to call home includes so many factors and decisions. From the location, number of bedrooms, size and style of home, to the convenience to work, relatives and friends, there are so many choices to make.
Factors like the school system, proximity to higher education, whether it’s a traditional home purchase or condo all must be decided. If you’re older you might want a 55+ community with a homeowners association and a pool. Younger families might want to spread out on a big piece of land with multiple acres that requires well water and a septic system. Maybe you prefer the convenience of city water, city sewer, curbs and sidewalks. The point is the process of finding your perfect home can be overwhelming.
That’s where your real estate professional comes in. Now more than ever, hiring a professional real estate agent is essential if you hope to realize your dream home dream. Recently mandated procedures in real estate, going into effect as of Aug. 17, require all sellers to fill out and provide seller disclosure forms on the property that they are selling. A copy of the form is to be provided to potential buyers before entering into an agreement to purchase their home.
In addition, when you ask to view a property with a real estate agent, it is required for an agent to ask you if you currently have a buyer/broker agreement in writing with any other agent. If not, then the real estate agent is to obtain in writing a buyer/broker agreement from you before showing you the property.
This is required and essential in establishing the business relationship that you will have with the agent going forward. It will outline the obligations, fiduciary duties and responsibilities of care and loyalty to you, in assisting you with finding your new home. This includes establishing the manner and amount of the compensation (the commission) that will be paid to the real estate agent’s agency, either by you the buyer, the seller, or included in your offer to purchase the home.
Here are more good reasons and benefits of why to hire a real estate agent:
Agents are your trusted advocates
According to the National Association of Realtors, about 90% of all homebuyers and sellers have found and sold their homes through a real estate agent.
The term Realtor can be used once a licensed agent, along with his or her broker of record and real estate office, belongs to their local, state and National Association of Realtors. They are held to a higher standard of practice, with continuing education, and must abide by a strict code of ethics.
Real estate agents are licensed with the state and are educated to assist buyers and sellers in the home buying and selling process. Real estate agents are required to have their license with, and may only be paid by and through, their broker of record – the owner/broker of the real estate agency through which they have their real estate license.
Only after obtaining additional years of education, multiple transactions and full-time real estate experience can agents become licensed associate brokers or real estate brokers.
Many years of continuing education, dedication, and knowledge are required in all aspects to maintain a real estate license and have a professional, successful career in real estate and service to the community – and to you.
In a Realtor you have a strong negotiator who will help you find and guide you in making the best choice in a home for you and your family.
Until next time… Keep cool and happy house hunting.
For More Real Estate Questions, Information and Advice Contact Elisa Jo Eagan “The Real Estate Godmother” (609)703-0432 and Remember…”There’s No Place Like Owning Your Own Home!”
