Why Use A Real Estate Agent

May 14th, 2024    |   Related To: 1 On 1 Realty    |   Related To: Plimmer Real Estate


by Plimmer Real Estate

How to find your dream home and why you should list your Property with a certified/ bonafide Real Estate Agent.

EDUCATION & EXPERIENCE:

You don’t need to know everything about buying and selling real estate if you hire a real estate professional who does. Henry Ford said, “when you hire people who are smarter than you are, it proves you are smarter than they are”. The trick is to find the right person. For the most part, they all cost roughly the same.

Why not hire a person with more education and experience than you?

We’re all looking for more precious time in our lives, and hiring pros gives us that time.

SERVICE:

They will handle all your Real Estate needs. They pride themselves in “after sales” service.

THEY ARE YOUR BUFFERS:

They will take the stress out of your property showings and visits.

If it’s a buyer of new homes, an investor, they will keep them at bay, preventing them from biting or nipping at your heels. We will filter all those phone calls & visits that lead to nowhere and influence serious buyers to make an offer.

THEY KNOW YOUR NEIGHBOURHOOD:

They will have intimate knowledge, or they know where to find the industry buzz about your neighbourhood. They can identify comparable sales and hand these facts to you, in addition to pointing you in the direction where you can find more data on schools, crime or demographics. For example, you may know that a home down the street was on the market for $3,500,000, but we will know or find out if it had upgrades and sold at $2,975,000 after 120 days on the market and after twice falling out of escrow etc.

PRICE GUIDANCE:

Contrary to what most people believe, they will give the assurance that they do not select prices for sellers or buyers. However, they do help their client, (the Vendor) to make the right choices for themselves.

Their primary function is to advise the Vendor, as to the proper price at which the property should be listed for sale or for rent. There are many techniques in arriving at property prices. They will promote two of these methods which are most used – the” Direct Sales Comparison Method” and the “Cost Method”.

Direct Sales Comparison Method – By placing a price on a property only after comparing prices with comparable properties that have sold and after considering the various differences of the properties. Simply put, “to compare like with like.”

COST METHOD – Is self-explanatory but a skilled professional technique.

THE SELLER:

They will ask sellers to weigh all the data supplied to them and to choose a price. Then based on the market supply, demand and the conditions, they will devise a negotiation strategy.

PROFESSIONAL NETWORKING:

They network with other professionals, many of whom provide services that you will need to buy or sell.

NEGATIATION SKILLS & CONFIDENTIALITY:

They negotiate well, because unlike most buyers and sellers, they can remove themselves from emotional aspects of the transaction and because they are skilled, it’s part of their job description. They are professionals who are trained to present their client’s case in the best light and agree to hold client information confidential.

MARKET CONDITIONS:

They would advise on market conditions, which will influence your selling, buying, or renting process. Many factors will determine how you will proceed. Data such as the average per square cost of similar homes, median and average sales prices, average days on market and ratios of list-to-sold prices, among other criteria, will have a huge bearing on what you ultimately decide to do.

THEY MARKET your property, and/or tell them your needs and they will find it – be it LAND; PROPERTY SALES; PROPERTY RENTALS – commercial or residential.

COMMISSION:

Their commission is standard. On sales it is 3% of the purchase price. On rentals of one (1) year and over it is one (1) month’s rent; for rentals of a fixed period of less than one (1) year, the commission will be ten percent (10%) of the total rent payable for the period. The POLICY is that the commission are only paid on the completion of the transaction. That is, on the signing of the Purchase Deed of Title or on rentals on the payment of the Security Deposit and the first month’s rent.

AFTER SALES:

They provide themselves in after sales. This is their forte. Even the smoothest transactions that close without complications can come back to haunt you. For example, taxing authorities that collect property tax, stamp duty or transfer of ownership, can fall months behind, they can straighten out the confusion. Many questions can pop up that were overlooked in the excitement of closing. They stand by ready to assist. They will not leave you to fend for yourself. Problems with your Landlord, yes, they will help.

THEY OFFER:

  1. A Marketing Plan – which will be discussed with you & they will adhere to.
  2. After checks & balances they arrive together with you, the market price – sale or rent.
  3. The qualification of Buyer’s or Tenant’s $ Amount – their budget.
  4. Qualification of Tenant – their needs; Employer; Position, last Landlord with contact telephone number. After checking they advise you.
  5. Preparation of Sale/Purchase and Rental Agreements.
  6. Holding of deposits on an escrow account; simply meaning the funds held can only be used for the particular transaction.
  7. Advise on Attorney’s; Valuators & Lending Institutions (mortgage) – such as: Commercial Banks; T&T Mortgage Finance & the Home Mortgage Bank. They will follow through with you on getting the best mortgage possible.
  8. Advise on the cost of Attorney’s fees; Valuators fees; Stamp Duty and Release of Mortgage. Securing the Land and Building tax receipts for the current year & obtaining the “certificate of payment”.
  9. Securing up to date WASA receipts & obtaining the “WASA Clearance Certificate”.
  10. Ensuring important documents are passed to the Purchaser’s Lawyer. Eg: Share certificate; lease rent; maintenance fees etc.
  11. Taking of inventory & writing up same & adding it as part of the Rental Agreement.
  12. Advise on the preparation of your property for sale of rental.

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