When selling my house why should
I work with a real estate agent?
Real Estate Agents have a “fiduciary duty” to the parties
they are representing. This relationship is based on trust and loyalty. The
real estate agent looks out for the interests of the seller. They give
undivided loyalty to the seller and keep the seller’s information
confidential. The agent can also guide the seller in establishing the listing
price, detailing how the home will be marketed as well as explaining all the
paperwork. Most importantly the real estate secures qualified buyers for the
home.
If a buyer is found, the real estate agent will fill out
a purchase agreement. This agreement is the contract between the buyer and
seller and specifies all the terms and conditions in regard to the sale of the
home, including the date of possession and the purchase price. Both the buyer
and seller sign the purchase agreement with all changes and concessions
initialed by the parties
This purchase agreement contains an accurate description
of the property and all the terms of the sale, including the price, the terms
of payment, the type of deed to be given, date of possession, proration of
real estate taxes and casualty losses, financing, and the inspections. When
this offer is presented to the seller, it is the sellers decision to accept it
or reject it. Timeliness is very important. By using a real estate agent,
the seller has complete confidence that he has received the best possible
price for his house and that all details will be handled with the utmost care
and timeliness.
