Realtors Insight

Hope all of you had an excellent Thanksgiving and are enjoying the fall, no snow yet and hopefully no snow for some time yet.

I came across a piece of literature that I thought would be a good one for my Realtors insight article. I am feeling that the longer I work as a real estate professional, the more I am convinced that my profession should do a better job of educating the public about Realtors. Few home buyers and sellers seem to really understand how Realtors work, or how to follow protocol, who pays Realtors and why we do the things that we do. I have asked the public what they think Realtors do and I?ve heard some real fantastic things. Some of which I wish were true. Any way here are 10 Protocol Tips to follow and hopefully help you understand what Realtors do.

Understand Realtors Work on Commission

·Very few Realtors work on salary

·Most Realtors are paid commission. If a Realtor does not close a transaction, they do not get paid.

·Realtors are not public servants and do not work for free. Do not ask a Realtor to work for you if you intend to cut the agent out of your deal.

Keep Appointments and Be On Time

·Be respectful, use common courtesy and don?t expect a Realtor to drop what she is doing to run out to show you a home. You are probably not that Realtors only prospect/client. And if you are, lord help you.

·Do not make an appointment with a Realtor then forget to show up.

·If you are going to be late, call and let your Realtor know when you expect to arrive.

Choose A Realtor

·Interview Realtors to find one who you are comfortable with.

·If you decide to interview Realtors, let each of them know that you are in the interview stage. (I recommend you tell them after your interview)

Do Not Call the Listing Agent if You Are Working With a Buying Agent or Realtor

·Listing Realtors work for the seller, not the buyer. If you hire the listing agent to represent you, that Realtor will now be working under dual agency. Working for both buyer and seller.

·If a listing Realtor shows you a property, the listing Realtor will expect to represent you.

Practice Open House Protocol

·Ask your Realtor if it?s considered proper for you to attend open houses alone. In some areas, it is frowned upon to go to open houses unescorted.

·Hand your Realtors business card to the agent hosting the open house. Sometimes this Realtor will be the listing Realtor, but often it is Realtors looking for unrepresented buyers. Announcing you are represented protects you or should protect you.

·Do not ask the open house host questions about the seller or the seller?s motivation. Let your Realtor ask those questions for you.

Sign a Buyer?s Broker Agreement with a Buying Agent

· Expect to sign a buyer?s broker agreement. It creates a relationship between you and the Realtor.

·If you are not ready to sign a buyer?s agreement, do not ask that agent to show you homes.

·Before you sign a buyer?s agreement ask the Realtor if they will release you from the contract if you become dissatisfied. If the Realtor will not accommodate this request, don?t sign and look for another Realtor.

Ask For and Sign an Agency Agreement

·By law, Realtors are required to give buyers an Agency Disclosure.

·Signing an agency disclosure is your proof of receipt. It is solely a disclosure. It is not an agreement to agency. READ IT.

Make Your Expectations Known

·If you expect your Realtor to pick you up at your front door and drive you home after showing homes, tell them. Many will provide that service. If not, they will ask you to meet at the first home to be shown or meet them at the office.

·Let your Realtor know how you want to be communicated with and how often. Do you want phone calls, e-mails, text messages or all of the above.

·Set realistic goals and a time frame to find your home. Ask you Realtor how you can help by supplying feedback.

·If you are displeased, say so.

Do Not Sign Forms You Do Not Understand

·Do not feel silly for asking your Realtor to explain a form to you. It is their job. Many forms are second nature to Realtors but they are not to you, so ask for explanations until you are satisfied you understand.

·Realize Realtors are not lawyers and cannot interpret law.

·Do not sign forms titled Consent To Represent More Than One Buyer. This is never in your best interest. Find another Realtor if this happens.

Be Ready To Buy

·If you are not ready to buy, you don?t need a Realtor. You can go to open houses by yourself; call listing Realtors for information ? but be honest, say you are ?only shopping? look at homes online; but don?t waste a Realtors time if you are not ready to act.

·If possible, hire a babysitter to care for children who are too young to stay out all morning or afternoon touring homes.

·Remember to take along your checkbook. You?ll need to write an offer because deposit money is required.

If you have a specific real estate question you would like answered please e-mail your question to brendabanham@remax.net or phone 242-3266 or you may send it to Box 1769 Tumbler Ridge, BC V0C 2W0 and I will be sure to get the answer for you.