A real estate agent act as a intermediary between buyers and sellers. Among agents will be co-agency and easy access to more properties listed by other agents. A real estate agent will list down properties of your desires, get in touch with sellers’ agents and make appointments for viewing the properties otherwise, without agents then you will have to play this telephone tag yourself.
Seller will have to filter unwanted phone calls and answer all the questions and make appointments. Most of the time, potential buyers or tenant are likely to move on if you are busy or don’t respond immediately or quickly. You may rushing home for a viewing appointment made, because no one assist you to shows up the property, time is a value of money, flying solo may not be as good as expected and may cost more than a agent’s commission.
Buyers and sellers may think of direct negotiation is more transparent and allows the parties to better look after their own best interests and benefits. This is probably true if assuming that both the buyer and seller are a reasonable person and can get along harmoniously with each others. Supposedly, it is not a easy to be a harmonious relationship when both of them think of their own interest and benefits such as time is a essence, monetary issues, contract clause etc.
How about, if you don’t like the colorful, old fashion furniture, how can you express directly to the seller? If you are working with an agent, your agent as a messenger, can express your concern for decorating and cost to rectify home without insulting the owner. Your real estate agent can convey your concerns to the sellers’ agent. Acting as a messenger, the agent may be in a better position to negotiate a discount without ruffling the homeowner’s feathers.
A real estate agent can also play the bad guy in a transaction, preventing the bad blood between a buyer and seller that can kill a deal. You must noticed that, seller can reject a buyer’s offer for any reason, including just because they don’t like his or her guts. An agent can help by speaking for you in tough transactions and smoothing things over to keep them from getting too personal, and your agent can advise you on the way to smooth the deal. This can put you in a better position on negotiating with buyer or seller
A real estate dealing, offer to purchase contract is always to protect you that you are able to back out of the deal if certain required conditions aren’t met. For example, a fail to make financing one of the conditions of the sale, you can lose your booking deposit and sued by the seller for non performance of the contract.
An experienced real estate agent is familiar with which conditions should be used, when they can safely be removed and use the contract to protect you, whether you’re buying or selling a property.
A registered real estate agent is a licensed professionals, If you are working with a licensed real estate agent under an agency agreement, (i.e., an appointment letter that an agent is represent you, professional service commission agreement, offer to purchase or offer to rent agreement in which the agent agreed to represent you), your agent will be bound by estate agency law to a fiduciary relationship to their clients. The agent is bound by licensed law to act for their clients’ best interest , but not his or her own interest.
The real estate agents were rely on referrals, commission and repeated business to developed their clientèle base and expand their business and they’ll need to survive in the business for the long run on real estate business. Hence, doing best for their clients should be as important to them as any individual sale.
Furthermore, if you do find that your agent has lying to you up to the degree of damage your interest or benefits, then you have avenues for recourse, such as through the estate agency firm, professional association , if you can prove that your agent has failed to uphold his fiduciary duties.
However, if a buyer and seller want to work together directly, they shall seek legal counsel, but because each of them is expected to act in his or her best interest, and having a lawyer on any time you want to talk about the matters of buying or selling a house could cost far more than an agent’s commissions . A real estate agent will smooth and balance both seller and buyer’s interest and satisfaction in order to successfully close the deal.
Keep in mind, no one will compromised a deal that only benefits the other party, so real estate agents is a bridge to connect and benefits both parties, this is because their duty and main challenge is to meet both parties satisfaction and desirous to close the deal, and it is an important task for them to survive in the real estate industry.
Many people avoid using a real estate agent to save money, but it is unlikely, for example, if you are selling your home on your own, you will market the asking price based on market comparable price in your surrounding area. Many of these properties will be sold with the assist of real estate agents. Therefore, seller have to keep the asking sale price that might otherwise be paid to the real estate agent.
To buy direct from seller, buyer always keep in mind and may request a net price after deduct agent fees as a discount to him, end up Seller selling likely of paying agent’s fee and flying solo on all the transaction process and work everything himself from advertising, phone call answering, appointments, viewing, signing booking form, mortgages, and etc.
If you think of market your property’s asking price lower than market comparable price exclude agent fees to attract buyer and ease of selling. The demand price always negotiated lower than your asking or list price, hence end up selling lower than paying agent fees.
Normally, buyers who are looking to purchase a property listed direct by owners may also believe and desirous that they can save some money on discount price by not having an agent involved. They will expect it and make an offer accordingly.
The real estate agent’s professional work is to service buyers and sellers to complete the real estate transactions.
In a real estate transaction, buying or selling a property is a major financial, timing and emotional undertaking.
A real estate agent, is their full-time jobs and challenge to balance buyers and sellers desires, in order to meet their requirements and satisfaction.
In order to smooth the dealing, preventing the bad blood between a buyer and seller that can kill a deal is a crucial point to them. Hence, this is their goal to overcome the hard-nose deal and close the deal successfully.
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