Q: Why does a home seller even need a real estate agent? A: If there is no middle party to negotiate between buyer and seller, you can become deadlocked on terms, have your property tied up, or end up in litigation. If your property is tied up for months you might have missed right buyer who is willing and able to pay price you want. Also a REALTOR will not have emotional ties to transaction that a seller has. The REALTOR is also separate from buyer’s objectives.

Q: Doesn’t hiring an attorney take care of contracts? A: If you think an attorney drawing up a contract makes you free and clear of worries and responsibilities – you’re wrong. The attorney does not have time to stay on top of this to make sure everything required is done on home before closing. If you do want attorney to handle details, you’ll pay a lawyer’s fee, which is usually $100 per hour and up.

Q: How does a REALTOR arrive at a market price on a home? A: A REALTOR will price your home much like an appraiser would. A REALTOR compares your home to what has sold in area in past three months. They know inflation record in your area. A REALTOR’s research also consists of checking court records to see what has sold in this area. This covers home sales not listed on MLS, but by law has to be recorded at court house for a specific area.

Q: How can a REALTOR possibly improve my bottom line on home sales, when I’m saving on commission? A: On every listing I have sold, I have procured for my sellers $10,000-$50,000 above what they thought their property would sell for – after they had paid all fees including commission. A majority of For Sale by Owner’s homes have sold for less than what a REALTOR would have obtained.

I would like to reiterate importance of seller selecting a REALTOR who knows ins and outs of contractual agreements and has some experience behind him or her. Hiring an experienced REALTOR to help sell your home will wisest investment you’ve ever made.

Home Owners Association The buyer needs to know time frame for Home Owners Association (HOA) packet. A buyer may be caught in buying into an HOA with high hidden fees if timeframe is missed when he or she can exercise their right to void contract. This will vary from state to state.

Disclosures & Disclaimers If there has been any structural damage to home or adverse environmental problems with home they must be disclosed. An example of this would be asbestos wrapped pipes. If not, then a disclaimer will accompany contract. Laws on disclosure/disclaimer vary from state to state.

Well and Septic In rural areas, where well and septic are used instead of city water, they are applicable as conditions of contract. There are time frames for these inspections also, which vary from state to state.

Termite and Moisture Clean termite and moister letters vary from state to state and from timeframe that needs to be adhered to in contract. The majority of lenders require a clean termite and moister letter prior to closing. The REALTOR in your area would know these timelines.

Referrals If you are moving into an unfamiliar geographic location, ask your real estate agent if he or she can refer you to an agent in area you are moving to. A REALTOR obtained through referral will help in relocating and purchasing your new home.

Select an Agent Carefully Each For Sale by Owner buyer needs to interview a REALTOR and select one who is comfortable approaching For Sale by Owners and working with them. Do not let For Sale by Owners or new home site agents dissuade you from using an agent. He or she may say that you will pay less for home purchase. In reality, a REALTOR’s professional advice may save you from taking a property that could become a nightmare, or help uncover a hidden jewel. Remember, if you’re searching for a home you still need a realtor, to look out for your end of sale. Get representation on your side.