A V E R Y  G I L L I A M   R E A L   E S T A T E 

Working with a Real Estate Broker in Mississippi

When you set sell your property or set out on your search for real estate, you don't want to go armed without your agent. A real estate agent can be invaluable to you as your go through the real estate buying or selling process. So let the first thing you do be selecting an agent. It is important that you choose an agent that matches with your goals and personality. This selected person should be chosen thoughtfully because it is possible that you will be working with this person for a while and you will be working closely on your investment. You will be speaking to each other regularly and will be discussing private and personal information.

One issue that would be important to understand, it the difference between a broker and a salesperson, as it may make a difference to you when choosing your real estate professional to represent you.

A broker is the principle licensee of the firm.

A salesperson is an associate affiliated with the principle broker of a firm and acts as a representative for the broker.

Next, it is important understand what a real estate professional can do for you.

Like the good ole' days, people will decide for various reasons to buy and sell their property, but unlike the good ole' days of verbal agreements between individuals, real estate transactions have become increasingly complicated and require that details of the real estate deal be spelled out very clearly in writing. Also, the pace of our society and the needs of the individuals has become faster and more diverse and this is part of why it is important that you find someone you can acknowledge as your real estate broker or agent. Just as you would not have a family physician, a family lawyer, family accountant, familiar auto mechanic, you wouldn't want to be without your real estate broker or agent. Statistics show that people sell their existing home and buy another one every 5 years and, real estate is considered to be a great financial investment and businesses are growing at a tremendous rate, therefore people, businesses, and investors will continue buy and sell real estate. We, individually, are expected to continue be involved in several real estate transactions throughout the course of our lives. Having the right real estate professional during these transactions will protect you and minimize the stress and difficulty of the process because no two real estate deals are the same.

The following is a list of services provided by a real estate broker or agent:

1.  Assist you in discovering your real estate needs

2.  Assist you in making a plan of action that is in line with your objectives

3.  Introduce and explain the various areas of concern that are a part of the real estate transaction process

4.  Assist you in developing a better understanding of what you can expect during the process and a better understanding of your own focus

5.  For a buyer and seller, a broker or salesperson can research the available properties for sale and properties that have sold in which will be used as part of the research and data gathered to help sellers decide on a marketing plan

6.  Provide a CMA, (Comparative Market Analysis), for buyers and sellers

7.  Uncover other detail information about properties that will be useful and comforting to know when buying or selling

8.  With the expertise in negotiation, which is developed with practice and experience over time, the broker or salesperson will know strategic methods to negotiate for the best deal for you

9.   The broker or salesperson will be liaison for you, thus taking the stress of face to face discussions, confrontations, and rejections away from you and diffusing possible irruptions or chaos.

10.  Real estate transactions require constant supervision and adjusting, thus the broke or agent will monitor all stages of the process and can quickly and efficiently manage any issues that may arise.

11.  A real estate professional will help you to make fewer costly mistakes by informing you or reminding you of the many issues that need to be considered when buying or selling real estate.

12.  The broker or salesperson has many connections within the industry and these connections and network of associates or individuals can provide more ease to the very complicated real estate process.

13.  Your broker or salesperson will research and arrange a convenient schedule of property showings of your selected properties.

14.  At the moment of either writing an offer or reviewing a received offer, your broker or salesperson will walk you through each item on the contract form, explaining and analyzing each part with you. Because your agent is experienced in the real estate transactions, the agent knows that the contracts come in all forms and that it is important to carefully consider each element. Your agent will know the issues to look out for and the ones to address along the way and not to mention, the actual writing and verbiage that goes into a contract.

15.  In selling your property, your professional knows of the different liabilities that the seller is responsible for and thus will guide the seller through these delicate and important issues.

16.  The broker or salesperson will prepare the appropriate documents that are necessary to convey each parties interest in detail and accurately.

17.  The broker or salesperson also has experience in working with the various parties to a real estate transaction, such as the home inspectors, the insurance companies, the closing agents or attorneys, the permit and zoning offices and can guide you through the various stages.

18.  For sellers, the broker or salesperson has experience and the time to weed through the number of contacts that inquire about your property. Many inquirers are not ready or unable to purchase your property, so the agent will determine the status of each contact and knows from experience how to manage the true interests of the contact. It saves you time and the wasted effort of dealing with the many unqualified interested parties.

19.  In marketing your property for sale, it is the duty of your agent to discuss the factors involved in setting the price of your property and the challenges you need to overcome to achieve the desired sales price and timely sale that meets your goals. Your agent will assist you in determining what items need to be improved or changed for better marketability.

20. The marketing of your property is important, needs planning, and implementing on a regular and strategic way. Your broker or salesperson will design a marketing plan that will involve various marketing media, design and printing of advertising material, and organizing other innovative and traditional marketing methods. Your agent will utilize the technical and specialized marketing tools that are available to real estate professionals that will provide the maximum exposure of your property, letting as many know about the availability of your property for sale.

21.  REALTOR®  will be able to place your property in the MLS (Multiple Listing Service) which is a fee paid service and database that allows real estate professionals to match their potential buyers to properties meeting their criteria. Today, most buyers have a real estate agent representing them and doing the search for properties for them, so the MLS service will help to reach the broadest number of potential buyers for your home.

22.  Your agent will cover the expense up front of the cost to market your property and which is money you do not have to expend in trying to sell your property. This expense can get very expensive to professionals and even more expensive to non professionals due to the fact that the advertising companies will give price breaks to the professionals because of their repeated business.

23.  Your agent will continue to be available even after the sale or purchase of your property in order to give your complete service. This adds to your peace of mind that you have a professionals support as your make your transition into or out of the property.

24. Peace of mind is found from the support of a professional whom has the experience in an area that you do not participate in everyday like the agent does.

25. The broker or salesperson will communicate with you and keep you informed of the progress which allows you to focus on the other aspects of your life, yet still know the status of your sale or purchase.

Now, after reading these 25 listed items, which are only a fraction of the service related items that an agent will be doing for your during a real estate transaction, it is understandable why it is really important to hire an agent and to choose one that is more suitable for you. Each agent has his or her style, method and level of experience and to help you in making a decision as to who to choose, click here to view and print a list of some important questions to ask a real estate professional.

             

 

                                                      

Types of Agency & Why You Should Understand the Different

Available  Relationships Between You and Your Agent

"Before you begin working with any real estate agent, you should know who the agent represents in the transaction. Mississippi real estate licensees are required to disclose which party they represent in a transaction and to allow a party the right to choose or refuse among the various agency relationships.

There are several types of relationships that are possible and you should understand these at the time a broker or salesperson provides specific assistance to you in a real estate transaction."                                         

Mississippi Real Estate Commission, p.1,"Working With A Real Estate Broker," 3/2003

The following Disclosure form, "Working with a Broker," is provided to each consumer, by the agent, to explain and make the consumer aware of the different agency relationships they can choose from. The disclosure form is NOT a contract and IS required by our Mississippi Real Estate Commission. Please, make yourself aware & understand this form, and cooperate with your licensed real estate professional by signing the form expressing your intent and understand that the agent is doing their job. You can appreciate a professional following the rules and being fair by providing you this information. It is in your best interest.

Working with a Broker Disclosure (this form IS NOT a contract)                                                          

This disclosure is mandated by the Mississippi Real Estate Commission and requires each licensed real estate agent to present this form at the time of a substantive meeting, such as a property showing or consultation meeting.          "The purpose of the Agency Disclosure is to document an acknowledgement that the consumer has been informed of various agency relationships which are available in a real estate transaction."                                                                                                                                             Mississippi Real Estate Commission, p.1, "Working With A Real Estate Broker," 3/2003           

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Client or Customer

What is the difference between a client and a customer?

Client = The person is represented by the agent and the agent owes to the client the "fiduciary duties of loyalty, confidentiality, obedience, disclosure, full accounting and the duty to use skill, care and diligence."

Customer = The person is NOT represented in a real estate transaction.  The only duties the agent owes to a customer is "the duty of honesty, fair dealing, and the duty to disclose all facts known to the agent materially affecting the value of the property which are not known to, or readily observable by the customer." Mississippi Real Estate Commission, p.2, "Working With A Real Estate Broker," 3/2003

michelle gilliam 2004

                                                      

 

 

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