PART 1
This post got a little long so these are reasons 1-3
1.) A “Safety” issue: for you and your family. Is it worth the risk? It could also, be a law suit that could happen. (This could become an issue for you and your family in the wrong situation, especially in this market.) Does your insurance cover something like this? Even if it were an Agent, It’s not a bad idea for a female agent to have a male mortgage person to accompany the open house held. There have been a few situations where real estate agents have been robbed, or worse.
2.) Buyer’s are uncomfortable when viewing the home, they cannot really express themselves while viewing with family & friends and agent, when they know the Sellers are listening. They want to be able to say what comes to mind at the time. They are exploring on what’s out there, on a hunt for that perfect home!
They don’t want to say anything due to they do not want to hurt the sellers feelings. The Selling And Buying process of a home is “emotional” & financial. It has been proven to be one of the most emotional processes for a person(s) to go through. It is in most cases the largest purchase of your lifetime. There is the human factor like it or not and one cannot separate themselves from this.
3.) Sellers are not able to give mortgage advise to a buyer, most buyers do not want to discuss their financial information with the seller anyway, for one reason its personal and the other is the seller would have the buyer over an advantage by giving them this information, in the leverage of the negotiating process.
Mortgage loans have changed so much over the years, even if your in this type of Business on a daily basis, you have to keep up. There are loans such as:
Conventional FHA VA Buy-downs (permanent or temporary) Arms
Jumbo loans 1st & 2nd loans fixed/30 20 or 40 year loan, etc. the list goes on…
A Buyer and a Seller needs a Professional to explain all the legal pros and cons of any type of loan, and which is best suited for them. The Buyer also, needs to have had a pre-qualified letter before they even start looking for a home so they know what amount they have qualified for. Then the next step is to obtain an approval-letter from the Lender. Then comes the loan commitment. Sellers do not have the mortgage options or knowledge to give to Buyers the information they need to make smart real estate decisions, their Professional Real Estate Agent will give them three (3) names & phone numbers of different lenders to check with.
According to the Truth & Lending Laws, you as the Buyer have the right to shop around and see what type of loan is best suited for you at the time. Only have one run your credit report as not to lower your credit score each time! You can give the other two this verbally. Then you decide which one you feel comfortable with and provides you with a good-faith estimate showing what the cost will be. Question the fees and ask they all be in detail to you what and why they are charged for?
This is WHY Buyer’s go through a Buyer’s Agent for their Real Estate needs as they are protected by doing this. The Seller always pays the commissions unless otherwise agreed upon. The Buyer’s only have to gain, by going through a professional real
Estate Agent to “represent them”. (The Sellers have to by law disclose anything they know about their property to the public.) The Professional Real Estate Agent is going to educate the Buyer’s so they will have the knowledge that is pertinent to the home buying process, and knows what to expect before it happens in the selling and buying of your home investments.
There is a series of questions you should be asking your real estate agent, before hiring them to sell or buy your home. One, such as how they intend on Marketing your home? (other than MLS, a given, if they are a member of the real estate board). In the case you are the Seller, you may want to ask: what other methods of the Internet exposure they intend to use, and how many and how often will these be updated on the Internet?
You also, will want to require the Listing Agent who is going to sell your home, to take professional pictures of your home and to send you via email a copy of the listing after it has been entered into the multiple listing service (MLS) on the Internet. I don’t know how many times I have seen a new listing on the MLS and due to the agent being lazy or what the reason is no picture at all let alone additional pictures, and they wonder why it did not sell, unless they were trying to hold it for someone they knew?
If they are going to market your home on a URL rather than putting the entire address on it, you may want to only use the name of the street or the subdivision, as these are more commonly known and you want to utilize the entire search engine optimization when using the Internet… (You could also, put it at the end of the URL vs. the beginning.) If they do not know your house is for sale they will not put in the number/address in the home search but, are more likely to enter it by street name or subdivision. See what I mean, the Search Engine Optimization is crucial.
written by
Pamela Williamson
