Why you should have a Realtor (Agent)
by Regina Collins
Many people enter into real estate transactions without proper representation. This typically occurs in one of three scenarios; (1) They are buying a home from a Production Builder or (2) They are buying a home in a Dual Agency (where the listing agent is also providing buyer representation) or (3) They are in a For Sale by Owner (FSBO) contract. All of these have potential formulas for disaster.
In the production builder scenario, an agent can help you negotiate terms and conditions that you may not have thought of yourself until it is too late. They can many times help you get the best price, extra upgrades or even a better lot. They can help you get a commitment for a third party inspector (such as Collins Inspection Services) to inspect the home periodically during construction or prior to signing your closing documents (many builders have put restrictions on these provisions). They are also provide a good ear to bounce your thoughts off regarding how the transaction is progressing.
In the Dual Agency scenario, an agent is representing both the buyer and the seller. Many times the listing agent is friends or friends of friends with the seller. This can create a difficult situation for the listing agent, as they have to represent both parties equally but have a prior relationship with the seller. As a seller, you are communicating to your agent the lowest price you will take for you home. As a buyer, you are communicating the highest price you will pay. Those two pieces of information should never cross the table to the other party. As you can imagine, the buyer does not always get the best service. We always try to assign another agent to represent the buyer in this situation to provide both parties an excellent experience.
In the For Sale by Owner scenario, several issues can go wrong without an agent. Real estate laws are constantly changing and agents are required to have continuing education by the CA Dept. Real Estate and their brokerages. Preparation of the contracts and disclosures by a licensed agent is essential to keep the parties legal and help protect against litigation.
If you would like help buying a home or selling your current home. Please contact Regina at 916-759-0051 or on my website at CollinsForYou.com
Regina Collins is a proud Native of the Greater Sacramento Area and a resident of El Dorado Hills providing real estate service to El Dorado, Placer and Sacramento Counties. Helping buyers search for their perfect home and seller’s get the best price are passions of Regina’s. Regina offers a genuine, helpful, and personal touch to her Clients. Regina loves to give back to her local Communities, volunteer to those in need, and donates to Non Profits per Escrow. CalBRE # 01995691