Part I - Real Estate 101
Buying your own home is one of the most important purchases that you
will make. The experience should be a pleasant one and result in finding
your perfect home with the least amount of hassle. At TITAN Real Estate
Group, we are devoted to using our expertise to make your transaction
successful!
Purchasing a home is a very big decision. As a real estate agency, we
want to assist you by providing honest and accurate information so you
can make a well-informed decision regarding the purchase of your home.
This website will give you an idea of what to expect during each phase
of your transaction. It also contains downloadable reference pages, note
pages, and deadline information.
Reason to Work With a Realtor®
A Realtor brings knowledge and experience to
the business of buying a home. A licensed real estate professional
provides much more than the service of helping you find the home of your
dreams. Realtors are not just sales agents. They are expert negotiators
and familiar with the local neighborhoods. They are members of the
National Association of Realtors (NAR) and must abide by a Code of
Ethics and Standards of Practice. A professional Realtor is your best
resource when deciding to buy a home.
- Realtors know the housing market
inside and out and can save you endless amounts of time, money and
frustration.
- Realtors can help you with any house,
even if it is listed with another broker or is “For Sale By Owner”.
- Realtors know the best lenders in the
area. We can help you get pre-qualified for a mortgage, discuss down
payments, closing costs, and monthly payment options.
- Realtors are excellent sources of
general information about the community, schools, churches, shopping,
transportation.
- Realtors are experienced at presenting
your offer and can help you through the process of negotiating the
best deal.
- Realtors bring objectivity to the
buying transaction and can point out advantages and disadvantages of a
particular property.
About TITAN Real
Estate Group
TITAN Real Estate Group is an
organization that supports the efforts of all our Agents. We work hard
to provide the support, professional work environment, technology and
tools for our Agents. Our dedicated team of Agents offers experience in
multiple areas of the Real Estate Market throughout
the Dallas/ Ft Worth Metroplex. All of our Agents are supported by a
team of professionals who are dedicated to facilitating their needs, as
well as the needs of their customers. In addition to the foundation of
our business, our Agents maintain a strong relationship with the lending
specialists in the area to ensure that buyers are getting the best
financing available!
All Real Estate Agents are required by law to have a minimum number of
education hours to maintain their active license status. At TITAN we
encourage our Agents to participate in ongoing education and training
provided by both TITAN and other credited institutions in our area. Our
Agents work hard to stay current with the inventory of homes in the
areas they specialize.
Maintaining high standards encompasses all elements of our organization,
from the selection process of the Agents that work under the TITAN
umbrella to the professional and ethical standards that we practice
every day. We recognize and appreciate the value of our relationship
with our clients and want to develop a long- term relationship that is
built on the grounds of trust and solid ethics in all the services we
provide.
Broker Relationship
Before working with a Real Estate broker
or their agent, you should know that the duties of a broker or their
agent depend on whom the broker represents. If you are a prospective
seller or landlord (owner) or a prospective buyer or tenant (buyer), you
should know that the broker who lists the property for sale or lease is
the owner's agent. A broker or agent who acts as a sub-agent represents
the owner in cooperation with the listing broker or agent. A broker or
agent who acts as a buyer’s agent represents the buyer. A broker or
agent may act as an intermediary between the parties if the parties
consent in writing. A broker or agent can assist you in locating a
property, by preparing a contract or lease of obtaining financing
without representing you. A broker or agent is obligated by law to treat
you honestly.
Differences Between the Seller's Agent and
Buyer's
Seller Agent - The broker or agent
becomes the seller’s agent by entering into an agreement with the
seller, usually through a written listing agreement or by agreeing to
act as a sub-agent by accepting an offer of sub agency from the listing
broker. A sub-agent may work in a different real estate office. A
listing broker or sub-agent can assist the buyer, but does not represent
the buyer and must place the interests of the seller first. The buyer
should not tell the owner's agent anything the buyer would not want the
owner to know, because an owner’s agent must disclose to the seller any
material information known to the agent.
Buyer Agent - The broker or agent becomes the buyer’s agent by
entering into an agreement to represent the buyer, usually through a
written buyer representation agreement. A buyer’s agent can assist the
owner but does not represent the owner and must place the interests of
the buyer first. The owner should not tell a buyer’s agent anything the
owner would not want the buyer to know, because a buyer’s agent must
disclose to the buyer any material information known to the agent.
Intermediary
A broker or agent may act as an
intermediary between the parties if the broker complies with The Texas
Real Estate License Act. The broker or agent must obtain the written
consent of each party in the transaction to act as an intermediary. The
written consent must state who will pay the broker and, in conspicuous
bold or underlined print set forth the broker or agent’s obligations as
an intermediary. The broker or agent is required to treat each party
honestly and fairly, in addition to compiling with The Texas Real Estate
License Act.
A Broker or Agent who acts as an intermediary in a transaction:
- Shall treat all
parties honestly
- May not disclose that
the owner will accept a price less than the asking price unless
authorized in writing to do so by the owner.
- May not disclose that
the buyer will pay a price greater than the price submitted in a
written offer unless authorized in writing to do so by the buyer
- May not disclose any
confidential information or any information that a party specifically
instructs the broker or agent in writing not to disclose unless
authorized in writing to disclose the information or required to do so
by The Texas Real Estate License Act or a court order or if the
information materially relates to the condition of the property.
If you choose to have a broker or agent
represent you, you should enter into a written agreement with the broker
that clearly establishes the broker’s obligations and your obligations.
The agreement should state how and by whom the broker will be paid. You
have the right to choose the type of representation, if any, you wish to
receive. Your payment of a fee to a broker does not necessarily
establish that the broker represents you. If you have any questions
regarding the duties and responsibilities of the broker or agent, you
should resolve those questions before proceeding.
Buyers Representative & Agency Agreement
Enlisting services of a professional
Buyer’s Agent is similar to using an accountant to help you with your
finances, a doctor to help you with your health, or a mechanic to help
you with your car.
Realtors devote their time to education, keeping updated on current
trends, and market research to find you the perfect home quickly. A
Realtor will take care of all the hassles in a real estate transaction
for you. We let you concentrate on your full-time job, while we do ours.
A Realtor will help you find a home, present your contract offer,
negotiate, and close while exclusively representing your interests.
The advantage of signing a Buyer’s Agency Agreement is that you will
have a professional working for you to find your perfect home. It is
difficult to find a home that meets your needs, get a contract
negotiated, and close the transaction without working with a real estate
professional. Realtors have a vast computer network to make sure you
only tour homes that meet your specific needs. You won’t need to spend
endless evenings and weekends searching the Internet or driving the
streets to find homes for sale. When a Buyer’s Agent finds homes for you
to tour, you will know that the homes meet your criteria for what you
need, including bedrooms, bathrooms, garage space, square footage,
neighborhood, and price range.
Buyer’s Agents get to know your real estate needs and concerns. This
type of relationship is built by open communication at all times and by
touring homes with your Agent so he/she can get a good idea of your
feedback and concerns about each home. If you use multiple agents, you
will not receive the best real estate services possible, and you will be
violating your agreement to your agent. There is nothing to gain from
trying to find and tour homes on your own, and you will save a lot of
time when your agent can tell you everything about any home before you
see it.
Entering into a Buyer’s Agency Agreement has countless advantages and no
disadvantages. When you sign the agreement, you are simply agreeing to
“hire” a personal representative who, by law, must represent your best
interests to the best of her ability.
Next :
Guide to Buying a Home, Part II
Page 1 |
2 |
3
|