All you need to know when you are buying or selling a home and what your rights are if you are not satisfied with the outcome.The stress that comes with making a mistake in the buying and selling process of a home is overwhelming most times. It is vital you take enough time to research homes if you want to purchase one or make the best investment decisions if you are selling.
Realtors or real estate agents are professionals who have been licensed in their state to promote the sale or purchase of a house. They must pass through professional training before obtaining a license and work in the confines of the strict ethical standards of the profession. So, how is a real estate agent useful to a consumer – buyer, and seller?
The Role of a Real Estate Agent to a Buyer
The following are the duties a real estate agent owes the home buyer.
- A real estate agent can assist a home buyer in finding the right kind of house, at the best price, and show them houses until they find the right one that suits their needs.
- In fact, they help their buyers go through all the buying process, from choosing the best mortgage companies to finding the perfect homes of their dream.
- The real estate agent reviews the daily activity of MLS (Multiple Listing Service) to find the hottest and trending houses or offers and real estate movements in their area.
- Most of them go the extra mile to educate the buyer about the home buying process. They prepare information packs in brochures and booklets and give to their clients to help them succeed in the buying process.
The Role of the Real Estate Agent to a Seller
Real estate agents assist a seller to market or sell their homes. However, is that all they do to help the seller? Here are the other benefits a seller gets from the agent.
- They help you determine the fair market price of your property.
- The real estate agents market or advertise your property to prospective buyers.
- It is their duty to arrange for interested buyers to come to see your home and guide you through the process of closing a deal or an offer.
Consumer’s Rights in the Home Buying Process
Consumer rights in the home buying process provide adequate security for the buyer. This means that without these rights, the home buyers are exposed to various risks and risks with respect to buying a home. So, consumer laws require home sellers to abide by certain specific standards.
Although these laws vary from state to state, most of them grant consumers the right to the followings:
- Select and interview a real estate agent who can assist you in buying a home.
- Understand the relationship existing between the agent and available property as well as the seller.
- Accept or reject a property based on the physical condition of the house.
- Negotiate for repairs on the property.
- Have a lawyer review the documents that are directly related to the home sale.
- Move into the property immediately the contract requirements are met.
When these rights are respected and the rules are followed, the real estate industry is a much more comfortable space to work in. So when you’re ready, go find a real estate agent who can help you make your real estate dreams a reality.