Dani Hallsell | Real Estate Blog

  In real estate, the relationship between an agent and a buyer can take on several forms, each with distinct roles and responsibilities. Here's an explanation of the different types of agencies: 1. Agency (Buyer Agency) When a real estate agent represents a buyer, this is known as a buyer agency. In this relationship, the agent acts as the buyer's advocate, working in their best interest throughout the transaction. The agent owes the buyer fiduciary duties, including: Loyalty: Acting in the buyer’s best interest. Confidentiality: Keeping the buyer’s information private. Disclosure: Informing the buyer of all material facts. Obedience: Following the buyer’s lawful instructions. Reasonable Care and Diligence: Providing competent and professional service. Accounting: Properly handling and accounting for all funds. 2. Non-Agency (Facilitator/Transactional Broker) In a non-agency relationship, the real estate professional assists the buyer and seller without representing eith...

  Starting August 17, 2024, significant changes are coming to how home buyers interact with their agents, thanks to a settlement involving the National Association of REALTORS. If you're in the market for a new home and your agent uses a Multiple Listing Service (MLS), you'll now need to sign a written agreement with your agent before touring any property. This new rule, designed to ensure transparency and clarity, applies to both in-person and live virtual tours. However, casual conversations with agents at open houses or inquiries about their services do not require such an agreement.  Consumers should know that after August 17, 2024: If you are a buyer and your agent is using an Multiple List Service (MLS), you will need to sign a written agreement with your agent before touring a home so you understand exactly what services will be provided, and for how much. Written agreements are required for both in-person and live virtual home tours. You do not need a written agreement...

  The closing process is the final step in selling your home. Here’s a comprehensive guide to ensure everything goes smoothly as you prepare to hand over your property to the buyer. 1. Ensure the Title Company or Attorney Has All Necessary Documents Provide the title company or attorney with all required documents, including signed contracts, mortgage payoff information, a property survey, and any relevant Homeowners Association (HOA) information. This ensures that all legal and financial details are in order. 2. Review the Title Commitment and Lien Search Carefully review the title commitment and lien search results provided by the title company. These documents confirm that the title is clear of any encumbrances or claims that could hinder the sale. Address any issues promptly to avoid delays. 3. Request the Preliminary Closing Statement Ask the title company or attorney for a preliminary closing statement. This document provides an updated estimate of seller costs and net procee...

  When selling your home, the due diligence period is crucial for ensuring a smooth transaction. Here’s what you need to know about supporting the buyer through their due diligence process. 1. Ensure Utilities Are On and Systems Are Working for the Home Inspection A key step during the buyer's due diligence period is the home inspection. Make sure all utilities (water, electricity, gas) are turned on and that major systems (HVAC, plumbing, electrical) are functioning properly. This allows the inspector to thoroughly evaluate the home’s condition and prevents delays caused by incomplete inspections. 2. Negotiate Any Requested Repairs After the Inspection After the home inspection, the buyer may request repairs based on the inspector's findings. Review these requests carefully and be prepared to negotiate. Some repairs may be essential for safety or functionality, while others might be more cosmetic. Aim for a fair compromise that addresses the buyer’s concerns without significan...

  Receiving an offer on your home is an exciting milestone in the selling process. Here are the key steps you should take to ensure everything goes smoothly from offer to acceptance. 1. Provide Buyers with Seller Disclosures and Lead Paint Disclosures When you receive an offer, the first step is to provide the buyer with all necessary disclosures. This includes seller disclosures, which detail any known issues with the property, and lead paint disclosures if your home was built before 1978. These documents are crucial for transparency and legal compliance, helping to build trust with the buyer and avoid potential legal issues later on. 2. Obtain a Copy of the Buyer’s Loan Approval Letter Ensure that the buyer is financially capable of purchasing your home by obtaining a copy of their loan approval letter. This document confirms that the buyer has been pre-approved for a mortgage, which is a strong indicator of their ability to secure financing. It’s essential for confirming the buy...

  When your home is on the market, showcasing it effectively to potential buyers is essential. Here are some key steps to ensure your home makes a lasting impression: 1. Tidy Up the House Prior to Each Showing and Hide Valuables Before each showing, take the time to clean and declutter your home. A neat and tidy space allows buyers to focus on the home’s features rather than distractions. Additionally, ensure that all valuables, medications, and money are securely hidden or removed. This not only protects your belongings but also makes buyers feel more comfortable during their visit.  2. How Showings Are Scheduled Showings are typically coordinated through your real estate agent, who will work with buyer agents to arrange convenient times. Flexibility is key to accommodating potential buyers' schedules. The more accessible your home is for viewings, the more prospective buyers will be able to see it, increasing your chances of receiving offers. 3. Leave Home Prior to Scheduled...

  Selling your home successfully requires a comprehensive marketing strategy. Here are vital steps to ensure your home gets maximum exposure and attracts potential buyers: 1. Submit the listing to the Multiple List Service (MLS). The first step in marketing your home is to list it on the Multiple List Service (MLS). This platform is widely used by real estate agents to find available properties for their clients, ensuring your home reaches a large audience. 2. Submit the listing for National Listing Distribution. Submit your listing for national distribution to expand your home's visibility further. This means your property will be featured on major real estate websites like Zillow, Realtor.com, and others, reaching buyers nationwide. 3. Create a single property website, videos, photography, and online marketing materials. Invest in a professional single-property website that highlights your home's unique features. Include high-quality photos and videos to showcase your propert...