SELLER & BUYER REPRESENTATION
In the past, real estate agents always represented the seller, whether the agent helped a seller to market and sell a property or helped a buyer find and purchase a property. In other words, agents were at one time legally bound to represent the seller in a real estate transaction. In that scenario, the seller paid both the listing agent and the agent who brought the buyer.
Today, agents either represent the buyer, the seller, or both. If you want to sell your real estate or business, you can work with a “seller’s agent.” If you want to buy, you can work with a “buyer’s agent.” Most states require real estate agents to disclose to consumers who they represent. Sometimes an agent will represent the buyer and the seller. A buyer who elects this situation should receive full disclosure on representation. In some states, dual agency affects the real estate professional’s fiduciary responsibilities to the seller. The real estate agent you choose should fully disclose how they work with individuals and the options available to you.
With Dual Representation the agent may not disclose any confidential information that would create a negotiating advantage for either client. Confidential information includes such things as the possibility that the Seller will accept a price less than the listing price or that the Buyer will pay a price greater than the price being offered.
COMPREHENSIVE DUE DILIGENCE
A thorough technical review of the property, assembly of all pertinent documents and information required, and issuance of recommended actions to be taken to enhance the marketability of the property and/or to shorten the due diligence period prior to sale shall be performed.
FAIR MARKET VALUE & PRICING STRATEGY
A complete review of the market, combined with comprehensive valuation estimates developed via the replacement cost approach, the income approach, and the comparables approach, as applicable, are provided for our clients. In this valuation is an investment analysis which is often used in marketing to illustrate valuation to prospective buyers.
PLAN IMPLEMENTATION & FEED BACK
A detailed review of showings and inquiries, current market conditions, pre-screened prospects, and proactive steps that we have taken to market the property. During the process, we will screen out unqualified prospects and make recommendations to our clients as to pricing or marketing adjustments.
NEGOTIATION & CLOSING
This includes comprehensive assistance prior to, during, and after the negotiations. Our upfront due diligence adds significant value in most negotiations, because we are thoroughly prepared with all the facts at the outset. Having negotiated hundreds of real estate transactions, we understand how to negotiate the best price for our clients consistent with a win-win philosophy. In fact, we frequently will go out of our way to provide services to the property buyer or seller to facilitate the transaction. Once negotiations are completed, we are not done – we realize “it’s never done until it’s done” and pursue all parties to meet their obligations under the contract to facilitate the closing. Because we completed a great deal of the due diligence at the outset of the assignment, the transactions we negotiate generally move quickly and smoothly to closing.