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Whether to use a realtorA broker is typically paid by the home seller, so according to most contracts, the buyer incurs no cost in using a broker. There is a growing trend for buyers to hire their own broker to find exactly what they are looking for and to negotiate the lowest price.
A broker can help you be more efficient. There are a multitude of home choices in a large city as compared to a smaller town, and there are many more factors to consider. You may need a broker to help limit your search. There is a misconception that a property offered for sale by its owner will be a bargain. This is not necessarily true. DIY Sellers often are unwilling to pay a commission to a broker, or even to the buyer in the form of a lower selling price. Generally speaking, the average seller is not as familiar with the market as compared to the average salesperson or broker. Therefore a property owner may offer a property at too high or too low a price. If you are knowledgeable about prices and review real estate ads own a regular basis, you might find a bargain, but don’t hold out much hope. If a home for sale by owner is a bargain, the chances of beating an agent who is familiar with the market to the punch (of buying the home) is rare. Some people make fast decisions based on limited information; others are more cautious. If you are the type to require all possible information for this important decision, you’ll probably contact several brokers. Here are some specific services a professional real estate broker should be able to accomplish for you. Ø Evaluate your housing needs and make recommendations about properties that fill these needs. Provide up-to-date information on the types of homes that are available in the market. Ø Direct your search to neighborhoods within your price range. Ø Provide up-to-the-minute information on zoning, area growth, tax assessments, quality of schools, and availability of stores, services, and transportation. Ø Arrange appointments with buyers and sellers. Ø Help you evaluate exterior and interior features of various homes so you’ll find a home that fits your needs and tastes. Ø A broker also can assist in helping you find appraisers, inspectors, lawyers, and insurance agents, when their services are needed. Ø Qualify a buyer to confirm they can afford your home Ø Complete a binding sales agreement to make sure you have a legitimate sale. Ø Obtain/arrange necessary inspections such as pest and termite inspections. Ø Supply the buyer and seller with federally mandated disclosures and notices. Ø Directing the the sale through escrow Ø Providing a clear title search and fulfilling escrow demand Ø Verifying and approving all documents that are necessary for the successful closure of the home. Ø And finally, a broker can provide information on financing and assistance in arranging your mortgage. As a matter of legal necessity, the broker typically works for the seller and the commission paid to the broker or derived from the seller’s proceeds from the house sale. Actually a broker’s income is generated by sales, and so their interests lie in making transactions work for both parties. A good broker or sales agent is experienced in bringing buyer and seller together to make a sale that satisfies everyone. The broker is legally obligated to treat everyone fairly.
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Helton Genealogical DNA Project - Hilton Family Tree - http://hiltonfamilytree.com
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