Many home buyers don’t know where to start. Likewise, many homeowners have never placed their property up for sale before. Many folks are first time investors. That’s why it’s important to emphasize the basics of the real estate transaction.
At the end of the transaction, people exchange real estate in exchange for money. But there are an incredible amount of details that must be attended to in order to get to that point.
Consumers are faced with a wide variety of real estate firms and real estate agents to choose from. Let’s face it: the barrier to entry to become a real estate agent is ridiculously low. Look how many real estate agents there are!
Many real estate firms hire real estate agents with no regard to their integrity, experience, or how much time they dedicate to practicing real estate. Many firms provide no training or support to their agents. It's astounding how many stories there are about how some real estate agents conduct themselves.
Consumers should recognize that it’s important to interview their real estate agent before they sign any paperwork and before they begin the process of home buying and home selling. In Pennsylvania, if the real estate agent does not provide you with a Consumer Notice (which explains different types of legal relationships between realtors and consumers), the agent is breaking the law. Similarly, if the real estate agent doesn’t provide the consumer with an Oral Consumer Notice during their first telephone conversation with them, they’re breaking the law. If you don’t see or hear this Consumer Notice during your first meeting or conversation, run!
Similarly, consumers should discuss experience and dedication with a prospective realtor. Many firms hire as many agents as possible in order to enhance the quantity of their closed transactions. If a firm has 100 real estate agents who work sporadically but manage to close 1 or 2 deals a year, this is a lucrative business. However, this business model is practiced without any regard for the well being of the consumer. Our recommendation: interview your agent during the middle of a weekday: if your agent can’t make the interview, then it’s very likely that real estate is their second career, which is a bad sign.
Real estate transactions are full of land mines. Choose an agent who is honest, experienced and dedicated. Weichert Realtors® - Achieve is very selective about our hiring practices. Each of our agents is a reflection of the firm's high standards of professionalism. Our agents, on average, have been practicing real estate for over 15 years. This translates into many more smooth, professional experiences with our agents.