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Jim's Real Estate

If you choose to hire a real estate agent to help you purchase a house, it is very vital to know how they work and how to work with them. Many people hire a real estate agent for many different reasons, which include prior relationships, their commission charge, and even as a guide to an unfamiliar town or city. It is important to know how to work with them, as by paying them commission, you tend to pay them a substantial amount of money and it is important to get the most out of it.

Many agents tend to get hired because they are at the right place at the right time, it is vital to your wallet that you shop around and get the real estate agent or REALTOR that best suits your needs.  One thing that must be known to help complete this search is the difference between a real estate agent and a REALTOR, both are licensed to buy and sell real estate in an area, however, Realtors all belong to the National Association of Realtors and have pledged to follow a code of ethics. Once you decide if you need a Realtor or a real estate agent, it is crucial to find one. A great way to find one is to ask for referrals. Ask a friend or business who recently moved or is currently selling property, many will be more than willing to point you towards their agent especially if they are well-respected. Other ways of finding an agent are to search online or even attending random open houses which give you first hand experience on how the agent operates.

Once you have selected a real estate agent or Realtor that properly suits your needs, it is important to know what they cannot do for you.  First there are many things that an agent cannot do for you. They cannot discriminate against you on many things including race, origin, religion, sex, handicap and your family status due to the Fair Housing Act. Agents can also not tell you about the cultural make-up of certain neighborhoods and can also not “steer” you to any of these neighborhoods or even church districts even if you request it. There are also laws in some states where agents cannot even disclose the school district that a certain area is in.

Once you realize what a real estate associate cannot do for you, it is important to know how to work with them and get the most out of your money. It is very important to realize that a real estate associate almost always work on commission, however, they must legally answer questions about the prospective residence correctly if asked. Be sure to ask all of the “hard” questions including if the residence has a solid foundation, if the utility bills are manageable, or even which television cable provider operates in the area. Be sure to ask and sign for an agency agreement and create a paper trail, as verbal agreements can change into a he said/she said argument; however, never sign anything that you do not understand. With real estate agents being contracted by you, it is important to check up with them from time to time to see if there has been any interest on your residence or one that you are looking at. Be sure to request things such as a sign (it is almost never forgotten by an agent), an open house, or even home fliers to pass out to prospective buyers. The last and most final tip when working with a real estate associate is to be 100% sure you are ready to buy or sell, if not it is completely unnecessary to hire a real estate associate at all.