Don’t Let Buyer Competition Keep You from Purchasing a HomeThis year’s record-low mortgage rates sparked high demand among homebuyers. Current homeowners, however, haven’t put
The Dark Side of a REALTOR®
Dated: December 27 2018
Wait…did you think I meant something unethical and sneaky? Heavens no. A good Realtor is working very hard for you behind the scenes.
Creating a plan
A Realtor’s planning is about knowing what needs to happen and when, while keeping you free from the stress of selling your home to a minimum.
Researching the market and arriving at the right price to list your house, referred to as a “Comparable Market Analysis” or “CMA”.
Preparing your home for the market, making it presentable for prospective buyers.
Scheduling professional photography.
Setting up showing instructions for maximum efficiency.
Follow up feedback forms and phone calls to buyers agents to get feedback.
Scheduling inspectors and appraisers and providing them with data to support your opinion of purchase price.
Creating a checklist of things that need to be done, staying on track is key to a successful transaction. It’s what I refer to as the “Timeline Tracker”.
“Someone's sitting in the shade today because someone planted a tree a long time ago.”
At the same time, when you want to know what stage the process is in, a Realtor can keep you up to date and informed. All because of good planning.
Aaaahhh….the Purchase Offer
A Realtor studies all purchase offers that are submitted, ensuring that all numbers are correct and that there are no hidden fees the seller pays that belong to the buyer. Price is just one of the determining factors (obviously) of acceptance of an offer but also the terms and ability to finance are key factors as well. A Realtor will want a pre-qualification letter from the buyers lender to determine if he or she is qualified to purchase your home. This is submitted with the offer. Knowing that the offer can be supported helps in moving towards a successful close. A Realtor makes sure that all legal documents are submitted that are required, signed, dated and initialed. All this is done behind the scenes.
A Realtor is constantly watching your back always with your best interest, not theirs. Paying close attention to the buyers agent and their client and determining what they are offering and what is the best deal for you is part of the behind the scenes activities.
However, sometimes this might be difficult to track. Research your Realtor and their testimonials and reviews. Integrity is one of the most valuable assets a Realtor can have.
Let’s Talk Inspection Periods
A Realtor is always aware of the inspection timelines. (This is where the Timeline Tracker comes in handy). A Realtor knows what needs to be done and when. It is not the duty of your Realtor to keep on top of the buyers agent. It is up to them to do their due diligence and have all of the inspections done. If they miss their deadlines…well… they can’t cancel the contract due to anything they find that is detrimental and that can benefit the seller.
Your Realtor is aware of this critical contract date. The buyers agent must keep the seller in the loop as to how the loan process is progressing. If there are any changes in their financial commitment they must let your Realtor know. The financial commitment date is anywhere from 15-30 days from date of contract execution. Sometimes this can be overlooked by the Buyer side, which can result in you as a Seller being compensated for default. Your Realtor will be watching this closely.
The Ultimate Goal and Getting There
The goal of all parties is to get to the closing, with as little bumps as possible. Knowing that your Realtor is aware of these parts will ensure that you are on your way to a successful close. Your Realtor will have your back. Keeping the stress from you is the perfect situation. And when all of this is done, knowing that your Realtor has done all of this when you’re not looking.
I moved from Carlsbad, California to Prescott, Arizona in 2016. I'm an avid hiker, motorcyclist, aviator, animal lover, and outdoor enthusiast, and have found there is no better place than Prescott. ....