How To Prepare Your House For Sale MORTGAGE RATE HOUSE MOVING TIPS DECORATION GARDENING

Who is the Real Estate Broker

The broker has over all responsibly for all real estate transaction with in his/her agency. The goal of the broker is to provide guidance and direction to all agents. The broker's practical experience, market knowledge and state rules and regulations are key to a smooth transaction and a happy client

• All states issue two different types of real estate licenses: one for salespeople (agents) and one for brokers. Agents who have broker's licenses have to satisfy much more stringent educational and experience standards than agents with a salesperson's license.
• Brokers will usually have developed relationships with the people with whom their office deals -- other brokers, lenders, title officers, other agents, home inspectors and such. Colleague's good will can make the difference if the going gets rough. Brokers with strong business relationships can work near-miracles for you in a crisis.
• Home purchases sometimes get highly emotional. If your life savings are on the line, you may lash out at the other players. Someone must handle the resulting quarrels and misunderstandings. That someone is the broker.
• Remember: Everything an agent does or fails to do is ultimately the broker's responsibility. Make sure to get the broker attention should problems arise, the broker's job is to help make your problems go away.

The Perfect Agent

Houses sell for fair market value, which is whatever buyers offer and sellers accept. Fair market value is not a specific number; it's a price range. A good agent can help you find a home that meets your needs, negotiate for that home on your behalf, supervise property inspections, and coordinate the closing. Agents often have useful leads for mortgage loans. A good agent's negotiating skills, knowledge of area and property values can save you thousands of dollars and still provide you that dream home.

A good agent will help your decision making process by:

• Educating you: Your agent should carefully explain each step of the buying process so that you understand exactly what's happening at all times. Agents should be patient, Knowledgeable, and tuned into your needs.
• Helping you to make good decisions: Your agent should always explain what other options are suitable for your needs, so that you can make educated decisions regarding your best course of action. Their expertise should help advise you if they think that you should add other experts (property inspectors, lawyers, and so on) to your team -- experts don't threaten a good agent.
• Being focused and professional: Your agent knows and understands the market place, trying to be all things to all people invariably results in mediocre service. Remember different areas within the state generally have radically different market conditions, local zoning ordinances, and building code restrictions.
• Having a Good Rapport: Other agents and brokers will prefer to do business with people they know, respect, and trust. Your agent's working relationships with local lenders, property inspectors, lawyers, title officers and insurance agents can help you in getting the deal you want.
• Remembering That You Are The Client: Most agents are already working with several other buyers and sellers, occasional scheduling conflicts are unavoidable. If however you often find your needs are being neglected, get a new agent

Understanding Agency

Agents are bound by certain obligations which you are due as a client:

• Loyalty (act in the best interest of the client)
• Obedience of all lawful instructions
• Confidentiality
• Accountability (for all monies)
• Reasonable skill and care
• Declaration of all material facts
• Honesty and fairness to all

Seller's Agency
This agent works solely for and represents the seller. A seller's agent has no fiduciary responsibility to the buyer.

Buyer's Agency
This agent works solely for and represents the buyer. A buyer's agent has no fiduciary responsibility to the seller even if the buyer's agent gets a portion of the commission paid by the seller.

Dual Agency
One agent may represent both buyer and seller in a real estate transaction, but only if both parties consent. Buyer and seller must sign a dual agency disclosure statement that describes the duties and obligations of the dual agent. A dual agent may not disclose any confidential information that would place one party at an advantage over the other party, and may not advocate or negotiate on behalf of either of the two parties. Most states permit dual agency relationships as long as the agency status is disclosed to both the sellers and the buyers in advance, and both parties agree to it.

Other Key Advisors

Home Inspectors
Your home price is directly related to its physical condition. Homes in great shape sell for top dollar. Fixer-uppers sell at reduced prices because whoever buys them must spend money on repairs. And average homes will bring in average prices.

You can't know how much work a house may need just by looking at it. You can't see whether the roof leaks, the electrical system is defective, the plumbing is shot, the furnace's heat exchanger is broken, or if the house is infested with termites. Invisible defects like these can be very costly to repair.

You need property inspectors that are qualified to advise you about a house's physical condition or the cost of necessary corrective work.

Settlement Attorney
Attorney’s finalize the acquisition and sale of commercial and residential properties, they assist the real estate clients in a myriad of ways, from the preparation and review of real estate contracts to conducting closings on properties. The following are examples of services provided:

• Settlements for residential and commercial purchases and refinances;
• Real estate contract preparation;
• Real estate contract review;
• Consultation and advice on real estate matters.