The construction of a home is not a process that should be taken lightly. In Thomasville, Georgia some Realtors and brokerage firms are not just listing and selling real estate they are building as well. YES, building the homes they are showing to home buyers. You would have to ask yourself why would they be practicing builder duties? Would you as a home buyer go to a divorce attorney to close your real estate transaction? This is no different, who do they hire to build those homes? Who monitors the construction to make sure things are being done right? Who will warranty those homes? It sure will not be the brokerage firm or the Realtor selling it because they are not qualified to determine what's right or wrong in the building industry. But they will be fast to let you know that for the large square footage and all the heavy mill work you are getting a steal of a price. What else can they really tell you about their own property? With these homes you basically are buying square footage yielding higher utility bills and a lot of wood.
As a home seller you would have to wonder which home will they show first, yours that you just gave to them to sell or the one they are building/selling to the same home buyer poll you are trying to sell to? You have to automatically think CONFLICT OF INTEREST. Listing their own properties and selling them all at the same time and with the option of DUAL AGENCY in Georgia who is protecting the you the consumer?
You the consumer needs to ask yourselves these questions before you make the biggest investment of your lifetime. Each Professional needs to stay within their field of expertise. A builder has the experience, knowledge and the license to build solely homes verses an inexperience and with the lack of building knowledge a Realtor or brokerage firm would. As a consumer, do your own research. Ask questions like who is the builder? Do they have a company? What is there warranty policies? and most of all compare builders yourself to other builders in the area and what each one offer you. Avoid taking opinions from those same people that are trying to steer you to their real estate interest. If the only thing they are selling you on is square footage, square foot and more square footage what it all boils down for you the home buyer is more, more, and more money to pay on your utility bills. A builder that really is up to speed with the new construction building sciences and incorporating features for the way we really live will provide you with the information and documentation on why they are the best builder for you and the best investment for your money. Homes that easily upgrade to new technologies and have indoor air-plus qualifications to keep you healthy, and homes that save you money for as long as you live in them, homes that appraise higher and hold their value in the real estate market, homes that are just comfortable to live in. A builder that stands behind the product they are selling to consumers and can backup the home product with documentation that ensures home buyers that they are getting what they are paying for. Wouldn't you want to make sure you are getting your monies worth?
You the consumer need to ask yourselves these questions before you make the biggest investment of your life time. Each Professional needs to stay within their field of expertise. A builder has the experience, knowledge and the license to build solely homes verses an inexperience and lack of building knowledge a Realtor or brokage firm would. As a consumer, do your own research. Ask questions like who is the builder? Do they have a company? What is there warranty policies? and most of all compare them to other builders in the area and what each one offer you. If the only thing they are selling you on is square footage, square foot and more sqaure footage what it all boils down for you the home buyer is more, more, and more money to pay on your utility bills. A builder that really is up to speed with the new construction building sciences and incorporating features for the way we really live. Homes that easily upgrade to new technologies, have indoor airplus qualifications to keep you healthy, homes that save you money for as long as you live in them, homes that appraise higher and hold their value in the real estate market, homes that are comfortable to live in. A builder that stands behind the product they are selling to consumers and can backup the home product with documentation that ensures home buyers that they are getting what they are buying.
Monday, February 8, 2010
Thursday, February 4, 2010
HOME BUYER ALERT!
Learn what you must know about dual agency, why it fails to provide effective real estate representation and other reasons to avoid it.
The phrase "dual agent" may have you thinking double agent, an operative adept at playing both ends against the middle. And, while the motive of real estate dual agents are rarely sinister, the effect for the home buyer seeking effective representation can be the same.
Making the terrain even more perilous: Most real estate agents are dual agents. Many home buyers are shocked to learn that their trusted real estate broker actually is obligated to look out for the sellers' interests.
There's much to risk by settling for this kind of representation. By splitting loyalty between you and the seller, a dual agent:
Is legally obligated to tell the seller things you’d like to keep confidential!
Is legally obligated to help the seller get the highest fair price!
May be biased toward houses listed with his or her agency, whether or not they’re right for you! May skip homes that are for sale by owner, no matter how perfect they may be!
Beware Dual Agency
Most all real estate agencies attempt to represent both home buyers and home sellers. That makes them dual agents. And that means a home buyer who is not careful could very likely end up with an agent who is not representing his or her interests one hundred percent.
Know the Three Types of Agents
The type of agency you choose can make a big difference. To really understand why an exclusive buyer agent is the home buyer's best choice, it helps to know that there is a real difference between exclusive buyer agents, exclusive seller agents and dual agents. Choose the right type of real estate agency and you can get more choices of homes, better information, better guidance and a higher quality home,
all for a lower price.
MORE REASONS TO BEWARE DUAL AGENCY!
As hinted above, there’s an ironic twist at play. Obeying the law and following the code of ethics actually works to pit dual agents against home buyers. That’s not to say there’s anything wrong-headed with the law, unethical about the code or evil about human nature. The problem is the double-bind that comes from the very idea that an agent can serve the opposite interests of buyer and seller.
HOW TO SPOT A DUAL AGENT!
No one is saying dual agents are evil or subhuman. The problem is the opposite. Dual agents fall prey to the same temptations any of us. Even though real estate agents have a legal obligation to disclose which relationship option they're proposing, it's up to you to know for sure: Is the real estate who wants to represent you a dual agent?
There’s one clear way to prevent representation from a dual agent: Assume most real estate agents are.
You can take some comfort that Georgia and the other states where dual agency is legal do require the real estate agent to make the disclosure. But, as you probably know if you’re buying a home, there’s more than a little wiggle room when defining “appropriate.” That mean’s you have to ask. In fact, there is more to it than simply asking, “Are you a dual agent?”
The problem is that this question doesn’t get to the heart of the matter, leaving a little too much room for interpretation. An agent assigned solely to representing that firm’s home buyers could reasonably answer, “Of course not.” Meanwhile, his or her colleagues are at work adding houses for sale on the multiple listing service.
Here’s the question that gets right to it, leaving no wiggle room: “Do you, or anyone in your firm ever list homes for sale?”
Some agencies might reassure saying the two functions are kept completely separate, with different agents representing buyers and sellers. But remember, when a house sells, real estate agencies split a commission of the purchase price. When an agency represents both seller and buyer, it also splits the commission—and then gets to keep both halves!
So ask yourself, how big a firewall would you need to be sure your agent isn’t influenced by bringing thousands more dollars to his or her firm? If there’s any connection to homes listed for sale, that’s your cue to move on.
The phrase "dual agent" may have you thinking double agent, an operative adept at playing both ends against the middle. And, while the motive of real estate dual agents are rarely sinister, the effect for the home buyer seeking effective representation can be the same.
Making the terrain even more perilous: Most real estate agents are dual agents. Many home buyers are shocked to learn that their trusted real estate broker actually is obligated to look out for the sellers' interests.
There's much to risk by settling for this kind of representation. By splitting loyalty between you and the seller, a dual agent:
Is legally obligated to tell the seller things you’d like to keep confidential!
Is legally obligated to help the seller get the highest fair price!
May be biased toward houses listed with his or her agency, whether or not they’re right for you! May skip homes that are for sale by owner, no matter how perfect they may be!
Beware Dual Agency
Most all real estate agencies attempt to represent both home buyers and home sellers. That makes them dual agents. And that means a home buyer who is not careful could very likely end up with an agent who is not representing his or her interests one hundred percent.
Know the Three Types of Agents
The type of agency you choose can make a big difference. To really understand why an exclusive buyer agent is the home buyer's best choice, it helps to know that there is a real difference between exclusive buyer agents, exclusive seller agents and dual agents. Choose the right type of real estate agency and you can get more choices of homes, better information, better guidance and a higher quality home,
all for a lower price.
MORE REASONS TO BEWARE DUAL AGENCY!
As hinted above, there’s an ironic twist at play. Obeying the law and following the code of ethics actually works to pit dual agents against home buyers. That’s not to say there’s anything wrong-headed with the law, unethical about the code or evil about human nature. The problem is the double-bind that comes from the very idea that an agent can serve the opposite interests of buyer and seller.
HOW TO SPOT A DUAL AGENT!
No one is saying dual agents are evil or subhuman. The problem is the opposite. Dual agents fall prey to the same temptations any of us. Even though real estate agents have a legal obligation to disclose which relationship option they're proposing, it's up to you to know for sure: Is the real estate who wants to represent you a dual agent?
There’s one clear way to prevent representation from a dual agent: Assume most real estate agents are.
You can take some comfort that Georgia and the other states where dual agency is legal do require the real estate agent to make the disclosure. But, as you probably know if you’re buying a home, there’s more than a little wiggle room when defining “appropriate.” That mean’s you have to ask. In fact, there is more to it than simply asking, “Are you a dual agent?”
The problem is that this question doesn’t get to the heart of the matter, leaving a little too much room for interpretation. An agent assigned solely to representing that firm’s home buyers could reasonably answer, “Of course not.” Meanwhile, his or her colleagues are at work adding houses for sale on the multiple listing service.
Here’s the question that gets right to it, leaving no wiggle room: “Do you, or anyone in your firm ever list homes for sale?”
Some agencies might reassure saying the two functions are kept completely separate, with different agents representing buyers and sellers. But remember, when a house sells, real estate agencies split a commission of the purchase price. When an agency represents both seller and buyer, it also splits the commission—and then gets to keep both halves!
So ask yourself, how big a firewall would you need to be sure your agent isn’t influenced by bringing thousands more dollars to his or her firm? If there’s any connection to homes listed for sale, that’s your cue to move on.
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