subject: The Commission Of Realtors And The Services They Render To Property Vendor [print this page] Some home sellers are having apprehensions on engaging the services of a real estate broker or agent. The main reason is the amount of expense or decrease in the net proceeds of the sale because of the broker's commission, an agreed percentage of the total selling price. The commission expense is always for the account of the property vendor.
The process of selling a property is complicated; thus the agent or broker becomes a very valuable instrument to expedite the sale. These real estate professionals have adequate experience to make the selling process run smoothly. They too have the proper connections which will work to the advantage of the home seller.
Looking at the face value of the commission, the seller will indeed find the commission huge but knowing what these people can do for you and you will later find out that every dollar of commission is worth it. The duties of a hired agent start with the arranging of listings of the property. You have to give the realtor photographs of the house, inside and outside. A reproduced copy of the title is also needed and this will give an idea on the size of the lot.
Size of the house together with description of construction materials is also vital information that a seller has to supply the agent.
When there emerges interested buyer, the realtor makes arrangements for the property viewing. The agent accompanies the prospective buyer for the showings. This person will also take charge in the negotiations between buyer and seller. It is expected that there will a haggling of price between the buyer and the seller - the buyer is expected to ask for price reduction.
Preparation of the contract will follow after the two parties agreed on the price and the terms of the sale. There are pertinent laws governing sale of real estate properties. A layman may not know all the intricacies of the law and it is the realtor who will be the guide in understanding all the stipulations in the documents or contracts for the sale. She will also look into the mortgage, if the house is purchased through loan facility.
After the sale is consummated, the keys to the house will be given to the buyer. The realtor may accompany the buyer for the final inspection of the property. Then she will be present during the closing process. When problems arise after the closing, the realtor will also assist both for the solution of the problems.
The commission may seem enormous at first glance. But knowing the whole process involved in the sale of a house, the commission paid to the real estate agent or broker is just reasonable for the complexities of the whole procedure.
