Choosing a REALTOR®
Once you have made the decision to purchase or sell a home, the next step is to find a local South Padre Island area REALTOR® who will best represent you and your housing needs. It is important to use a local REALTOR® because they know the properties, and unique addendums the best. There are three types of real estate agencies: the Buyer’s Agent, the Seller’s Agent, and the Dual Agent.
These are the three typical Agent/Client relationships that may occur. The terms of these relationships may vary from state to state, so please verify the terms of these Agency Agreements in your local area before signing any agreements.
The Seller’s Agent
This agent solely represents the seller. If there is an agent involved in a sales transaction, by default, that agent will represent the home seller unless there is a signed Buyer’s Agency Agreement with the buyer.
When looking for an agent to work with, it is best to interview a minimum of 2 to 3 real estate agents before making your final decision. Ask friends and relatives for names that they would recommend.
Below is a list of questions that may help you in deciding on which agent will best meet your needs:
· How long have you been in the Real Estate Business?
· How familiar are you with the area? How long have you lived in the area? How long have you sold houses in this area?
· How many clients are you currently working with?
· Do you work with more sellers or buyers?
· How many homes did you sell last year?
· What is your typical commission?
· How do you plan on marketing or promoting my home?
· Can you provide me with names and phone numbers of some of your most recent clients who would be willing to give me a reference (if this agent has not already been referred to you by a friend or family member)?
When selecting a real estate agent to represent your interests, it is important to find an agent that you trust and feel comfortable with. Remember, this is probably the biggest sales transaction you will have in your life, so it is important to work with someone that you are sure will get you the best offer!
An Intermediary Agreement occurs when two Realtors who work for the same Broker each represent a buyer or a seller in the sales transaction. This agreement must be disclosed to both the seller and the buyer, and any privileged information cannot be disclosed to the interested party without the permission of the other party.
What to Look for in an REALTOR®
In addition to finding a real estate agent that you feel comfortable with and whom you trust, make sure that he/she is a dedicated professional who will work with you until your goals have been met.
They should be familiar with the area. Not only should they be familiar with the housing market, but also with area churches, schools, clubs, and parks.
Also, look for an agent that is a licensed REALTORS®. REALTORS® are individuals who are members of the National Association of REALTORS® (NAR), and must adhere to its strict code of ethics. Agents who are not REALTORS® do not have to abide by the code of ethics.
By following these guidelines, your home selling experience should be a pleasant one!