Even in today’s buyer’s market, finding a buyer is the easy part.
Positioning a property to assure that a buyer steps up to the plate can
be critical. Establishing the proper price point, investigating permits,
providing disclosure advice, evaluating planning, title and survey
issues as well as determining highest and best use of the property are
but a few of the pre-listing subjects that arise. Proper pricing and
effective marketing quickly bring REALTORS® to the point where they
really begin earning their money.
REALTORS® assist with
negotiations, provide advice regarding the nuances of the contract,
assure that buyers are qualified to proceed and trouble-shoot the
transaction through to closing. Each transaction is completely
different. Watch this. This week alone, I’m juggling an access issue,
tracking down documentation for a corporate sale, untangling a probate
problem with an out-of-state owner while at the same time dealing with
the more common problems related to termite inspections, surveys, title
problems, easements, setback violations, permitting problems, settlement
statement accuracy, closing dates and property inspections to name a
few. It’s no surprise then that when it comes time to show a listing
represented by a discount broker, a limited service broker or
for-sale-by-owner, extra caution is required. Without another
full-service agent involved, the work load and liability for the
transaction lies squarely on the lone full-service agent.
Performance
of pre-listing tasks by discount brokers is normally non-existent. Also
absent are critical double-checks which insure the seller is making
full and accurate disclosures; permits are difficult to validate and
fair housing compliance is not guaranteed. When agents are put in the
position of working directly with a seller who is self-represented, we
must be careful about providing advice, otherwise we risk becoming an
“accidental” dual-agent. This sometimes alienates sellers who may get
the impression that we are being less than cooperative. Additionally,
agents involved in such transactions often lack assurance of
compensation for their professional services. Most buyers these days
still work with a committed agent with whom they have an established
relationship. They understand the nuances of buying property in Hawaii
mean that purchasing without competent representation can be very scary.
Buyers and sellers deserve full and complete representation. Any
arrangement which provides less is really unacceptable especially given
the size and gravity of the transaction!
Team NakanishiHilo, HI Real EstateHilo, HI Community Informationwww.HawaiianRealty.comTeam Nakanishi, Proudly providing superior real estate services to Hilo, Hi.