Part I - Real Estate 101
Selling your home is one of the most important sales that you will make.
The experience should be a pleasant one, resulting in selling your home
with the least amount of hassle. At TITAN Real Estate Group we are
devoted to using our expertise to make your transaction successful!
Selling a home is a very big decision.
As a real estate agent, we want to
help you with honest, accurate information so you can get the maximum
worth for your home in the current market. This website will give you an
idea of what to expect during each phase of your transaction.
Please consult this website when you participate in all sale activities
such as meetings and offer presentations.
Reason to Work With a Realtor®
A Realtor brings knowledge and experience
to the business of selling a home. A licensed real estate professional
provides much more than the service of helping you sell your home.
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 sell 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 prepare your
home for sale with extensive market
knowledge.
- Realtors are excellent sources of
general information including; the community, schools, churches,
shopping, transportation and how they affect the value of your
property.
- Realtors are experienced at
negotiating the best deal.
- Realtors bring objectivity to the
selling transaction, and can point out advantages and disadvantages
between multiple offers.
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.
Listing Agreement
Enlisting services of a professional
Listing 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 sell your 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 sell your home, present all offers, negotiate,
and close while exclusively representing your interests.
The advantage of signing a Listing Agreement is that you will have a
professional working for you to sell your home. It is difficult to put
your home on the market, market your home, show your home, get a
contract negotiated, and close the transaction without working with a
real estate professional. Realtors have a vast computer network to get
your home listed and shown by other real estate professionals. You won’t
need to spend any time answering phone calls from curious people driving
by or nosy neighbors. When an Agent lists your home you can be sure they
have already researched the homes currently on the market and recent
sales to assess the best value for your home.
Entering into a Listing 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 their ability.
The Real
Estate Market
Some homes sell in a few days and others
may take several months. There is no explanation, however a good balance
of the following factors can expedite the sale of your home.
- Location -
Location is the single greatest factor affecting value. Neighborhood
desirability is fundamental to a property’s fair market value.
- Competition -
Buyers compare your home with other like properties on the market.
- Timing - The
real estate market may reflect a seller’s market or a buyer’s market.
Market conditions cannot be manipulated; an individually tailored
marketing plan must be developed accordingly.
- Condition -
Property condition affects the price and speed of sale. Optimizing
physical appearances and advance preparation for entering your house
on the market maximizes value.
- Terms - The
more flexible the financing, the broader the market, the quicker the
sale and the higher the price.
- Price - If the
property is not properly priced, a sale may be delayed or even
prevented. A realtor’s comprehensive market study will assist you in
determining the best possible price.
Comparative Market
Analysis
A realtor can determine the realistic
value of your home in two ways:
- A written compilation
and analysis of recent homes sold, homes presently on the market, and
those exposed to the market but not sold during the listing period.
- By obtaining the
opinion of a qualified and knowledgeable agent who lists, shows and
sells property in your neighborhood.
Next :
Guide to Selling Your Home, Part II
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