Top Things the Best Real Estate Agents Should be Discussing with You
Throughout our research, we found this article “Five Things Real Estate Agents Won't Tell You” on Forbes.com. I felt that Mr. Gerber or someone he knows may have had some bad real estate experiences so I thought I would address some of his comments.
Summary: Five Things Real Estate Agents Won't Tell You
1. Your home is not an investment.
2. Sale contracts do not offer ironclad protections.
3. Home inspectors are not always impartial
4. Commissions are negotiable
5. You may hate your neighbors
The average person interviews only one agent and usually the first one they meet is the one they hire. OR, If the agent has been referred by someone the buyer or seller know and trust, the interview process usually doesn’t exist at all. And that my friends, is the miss. The best Real Estate Agents should and will discuss all five of the points that Mr. Gerber points out with any client.
Show me a sales contract that offers ironclad protection, I find it doubtful one exists. Most brokerages do have disclosure forms and/or addendums that protect the sellers from future attempts to “claw back money” but even signed, a buyer can still seek judgment if they were wronged. On the same note, as a Realtor, I would never ask my client (buyer or seller) to waive their future rights away.
The best Real Estate Agent will want their client to know the condition of the home being purchasing. A home inspection is not an opportunity to nickel & dime each other but the opportunity to know what a buyer is buying or what a seller is selling. (Sometimes the seller doesn’t even know). This is a point in the transaction where the negotiating skills on both sides, for both buyer and seller, will be demonstrated to create a win for all parties.
A top Real Estate Agent will also happily share their list of licensed home inspectors to choose from or help you hire your own. It would be an ethical violation to use vendors who are biased or to “incentify” ANY party to the transaction. Regarding agents offering a “generous lump sum” to cover required maintenance sounds like another ethical violation.
"The best Real Estate Agents will sit down with you
to discuss your needs and wants."
The best Real Estate Agents will sit down with you to discuss your needs and wants. Most of the Real Estate Agents I know and work with have the conversation about meeting neighbors. Neighbors are a huge part of the end goal of buying a home and should be part of the buyer’s due diligence period. We also discuss expectations throughout the process, which includes topics like commissions being negotiable and whether your home is an investment or not.
The most important aspect to the home buying or selling process is to protect and promote you, the client. As Mr. Gerber stated, a home is one of the most significant financial decisions of your life. So treat it as such, interview your prospective Real Estate Agent and consult with more than one to find the best Real Estate Agent for your needs. I may not be an investment advisor but I do know that Return is measured by the relative investment’s cost. As a Realtor, I do hold a fiduciary duty to my clients and I do not take that responsibility lightly. A home is an investment in life, the return cannot be measured financially alone.