Reasons to hire and REALTOR® and why an Information About Brokerage Services form is important
by Kelle Wirt
Just like in many businesses, there is usually some mild hesitation about working with a salesperson of any kind, and REALTORS® are not immune to this. Due to the poor ethics of some, the whole group is given a bad rap. However, having a REALTOR® in your corner is a very good idea for a variety of reasons. When first meeting with your REALTOR®, they probably handed you a form that looks like this. This is a relatively simple form that says expressly whom the REALTOR® is working for. It is important to understand that if you have a REALTOR® working for you, they are always working in your best interest (provided they are an ethical agent.) The Information About Brokerage Services is to let you know there will be no conflict of interest if the buyer’s agent or seller’s agent happens to represent both sides of the sale. Simply stated; if the buyer or seller agrees to this intermediary relationship the agent will not divulge any information to either party in any way to give favor to one over the other.
Another good reason to have a REALTOR® in your corner is the relationships they build in their community. They know about the latest developments in the community, from new builds to foreclosures, they can find you the home best suited to your needs no matter what those needs may be. A REALTOR® is there to be used – use them! A common misconception is that you will get a “better deal” without a REALTOR®, but in no way is that the case. They have information you may not be privy to through their wealth of connections and, perhaps most importantly, they have been through the process of selling homes multiple times and therefore they know the right questions to ask and the best way to negotiate their client’s interest.
A note about REALTOR® ethics and the Buyer’s Rep Contract
An ethical and responsible REALTOR® is going to communicate with you and be competent. At the very least, you should expect your REALTOR® to answer all questions in a timely fashion and be up to date on the latest laws and current trends in the real estate market. If they fail to do either of these things, drop them and find someone who will. You deserve to be represented by the best. However, this communication must go both ways, and the best way for that to happen is to sign a Buyer’s Rep Contract. This guarantees that you will work with that REALTOR® only for your current needs. While signing contracts may make some uneasy, this is the best way to build a relationship with a REALTOR® you have come to trust. Do know that these contracts can be made to a specific location, so if you are an investor looking at multiple areas, you can find someone in each area to be sure they have the best information possible.
As always, I am happy to answer any questions you may have. Please email me at firstname.lastname@example.org or comment below. Happy home buying!