Charlatans, Ice Bergs and Agents, Oh My!

Real estate agents, historically, have been looked upon with all the trust attributed to drug dealers, used car salesmen and ambulance chasing attorneys; the latter two being generally seen by many people as providing a much more valuable service than the agent. While healthy distrust of any profession prevents pocket plunder, excessive wariness warrants waste warnings. In an increasingly do it yourself economy, saving six or seven percent seems lucrative enough to justify the risk of avoiding real estate brokerage fees also known as (aka) “No Sir, we don’t need no stinking life boats on H.MS. Titanic. She is unsinkable.” Keep in mind that with real estate transactions, as in crossing the Atlantic, navigating hazards is very important. Contract specifics, deadlines, inspections and negotiations can give even a seasoned professional difficulty and add thousands of dollars to your bottom line if not handled correctly but  at least (most likely) you will stay dry.

Granted some agents have a less than accurate moral compass creating opportunity for any agent to become adversary and ally alike. This probable hazard makes having a trustworthy advocate for your side of any transaction a necessity but choosing your real estate ”knight in shining armor” can prove daunting. In the absence of tests to demonstrate mental feats of strength, bravery and cunning, real estate clients could find life’s most important transaction defended by charlatans and cowards. If you lack the proper means to measure the mental agility, craftiness and endurance of your potential champion then follow these few guidelines when selecting a real estate agent to protect your precious investment.

 Interview prospective real estate agents using methods similar to those of anyone seeking a full time job.

 Always choose an agent who is a member of the National Board of Realtors and check their membership.

Discover prospective agent's educational achievements be they technical school, on the job training or traditional university scholarly learning.

Ask your agent to demonstrate how their services will benefit you more than those of the typical real estate agent but keep in mind that service quality and amount of commission paid are often commensurate.

Discover how long your agent has been actively practicing real estate brokerage and how many successful transactions this person has performed during that time.

Get references and check them.

Some important points to remember:

1.       The qualifying broker at any real estate brokerage is ultimately responsible for every real estate transaction. If you are not happy with your agent or salesperson, then contact the qualifying broker. If you need to know how to discover the identity of any qualifying broker in the State of Georgia, then contact me and I will be glad to provide this service as a ministerial act.

2.       The listing agent represents the seller and has a legal responsibility to ensure that the seller gets the best deal possible. The listing broker should never advise buyers in any way, shape form or fashion.

3. Every buyer needs a buyer’s agent and they are “free” (sort of) since the listing agent and buyer’s agent split the commission paid by the seller. A buyer’s agent, as the name suggests, specializes in representing buyers and has a legal responsibility to protect the best interests of the buyer thereby ensuring the best possible deal for the buyer. A colleague of mine who specializes in listing property for sale emphasizes to every potential buyer inquiring about his properties to ensure that they use the services of a buyer’s agent.

4.   While it may be legal in the State of Georgia, it is never a good idea to have the same real estate brokerage company represent both the buyer and the seller in the same transaction. To avoid possible conflicts of interest, all parties to any real estate transaction should be represented by their own real estate agent and these agents should operate under the supervision of separate qualifying brokers.

Real estate transactions are the largest investments ever made by most citizens. Protecting your investment is worth the extra effort needed to find the most qualified real estate agent compatible with your personality, lifestyle and schedule. The improved quality and smoothness of your transaction will be well worth the commission paid.

While I would love to represent every real estate deal, the limits of my physical existence make that dream impossible. If anyone in the State of Georgia has difficulty choosing the right real estate agent then please contact me or my wife Cindy (also an agent) at 770-265-9396 or broker@DBR40.com. We will be glad to assist you in finding best agent for your needs. Visit our homepage at http://www.DBR40.com.

This blog is dedicated to my grandson Warren Samuel Stotts who turns five years old today. I love you Warnie. You have changed my life and touched my heart more than anyone.