Friday, December 08, 2006

Worth It's Weight In Gold

Our Service Isn't Expensive. It's Priceless.

You own real property, a single family home, a duplex, an investment property, or a piece of vacant land and you’re thinking of selling it. Here are questions you probably have. How much is your property worth? How much do agents charge? Do I have to pay taxes? Am I required to make repairs for a buyer? Who pays for inspections? Who pays for closing costs? Who pays for the appraisal? How do I pay off my existing loan? If you’re behind in payments a question might be, can I stop a foreclosure and keep my equity? If you have no equity, you may ask, how can I even afford to sell? There are many more questions that you may have but we’ll focus on one of the very first steps in the process...Choosing to use a Realtor.

Now I know there’s a lot of people out there that like to try selling on their own and I can appreciate that. If you choose to be an un-represented seller, educate yourself about your states laws on statutory disclosures, familiarize yourself with all the legal forms and documents you’ll be required to sign, contact your local title company and request a preliminary title report so you can review all the financial and non-financial encumbrances, any easements, and any liens that will ultimately affect your bottom line. Furthermore, to help avoid any future problems, educate yourself on the civil rights acts of 1866, and 1964. The Federal Fair Housing Act. Your States laws against discrimination and the American with Disabilities act, as well as knowing who qualifies as a protected class of people. Fulfill these minimum requirements and you’re ready to sell your own home safely.

How do you choose a Realtor? That really depends on what you’re looking for in a Realtor. And keep in mind that not all agents and brokers are Realtors. Realtors are members of the National Association of Realtors and are bound by a strict Code Of Ethics. You might have notice that I use the words Broker and Agents separately. That’s because there are stark difference between the two. The requirements to become a licensed real estate agent or salesperson in the state of Washington are : 1) Be at least 18 years old. 2) Successfully complete 60 clock hours of real estate fundamentals and 3) Pass the salesperson exam. On the other hand the requirements to become a Broker and Associate Broker are the same and they are: 1) Be at least 18 years old. 2) Have at least a high school diploma or equivalent. 3) Have at least 2 years experience in the last five years as a full time sales person. 4) Successfully complete 120 hours of continuing education courses within the previous five years including a 30 hour course in broker management, a 30 hour course in business management and a 30 hour course in real estate law. 5) Pass the Brokers exam.

All agents and brokers will have access to the NWMLS if they are members or subscribers. What that means is, any agent regardless of experience or knowledge can list your home and make it available to all the other cooperating members of the NWMLS. But you're most likely looking for someone that does more than just list homes. You’re probably looking for experience, knowledge, a record of success, and the one item I thinks is most important...Someone you feel comfortable with and can trust.

Unless you already have a good relationship with an agent, finding someone you can trust will be a leap of faith. You should choose at least 3 people to interview. A process whereby you ask many questions. Look for the person that will work for you. Not necessarily the one who sells the most homes, but the one who will properly represent you in the sale of YOUR home.

1 Comments:

Blogger Suzette Monique said...

Hi Gene Quinney!

What you said here:

"Unless you already have a good relationship with an agent, finding someone you can trust will be a leap of faith. You should choose at least 3 people to interview. A process whereby you ask many questions. Look for the person that will work for you."

Very wise, as well as, very practical advice for buyers and sellers alike! Kudos!

12:36 AM  

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