What a Realtor Really Knows
Realtors are different. Some of them work in not entirely honest ways, so they spoiled the real estate market a bit. Clients think that all realtors are cheating and throwing people. On this topic, we wrote a separate article – how realtors deceive. It collected the main ways of deceiving dishonest realtors.
But not everyone uses these methods. Over time, the situation changes and the market becomes more civilized. New people come in and work differently. They put the interests of the client first and think about their reputation. They came for a long time and do not want to spoil their name.
Knows that the neighbor has an apartment
In the past, knowing a realtor who had an apartment and where was key. Without the Internet, intermediaries had a monopoly in the real estate market. It was the knowledge that the neighbor’s apartment was vacated that they sold. And now, with the development of the Internet, this only advantage is gone.
An apartment can be found without an intermediary on various real estate websites. Not everyone succeeds, because there is a lot of informational noise and garbage from realtors. According to statistics, about 5-10% of ads are published from the owners.
Everything else is published by realtors. One apartment, from one owner, can be sold by ten different intermediaries. Because of this, there are so many ads.
To provide a quality service, a realtor must constantly learn and undergo training. Development is required in order to sell more and faster. If the intermediary stops in training, then the apartments will be sold by his competitors and he will not earn anything.
Therefore, knowing how to communicate, how to present an object and how to sell are very necessary skills.
Knows how not to miss a commission
Agencies sometimes have manuals for working with clients. There is a set of rules on how to prevent a client from meeting with the owner of the apartment. Everything is aimed at ensuring that the parties to the transaction do not exchange phone numbers and do not conduct a transaction themselves without a realtor. The rulebook says:
You can not leave the owner and the client alone in the same room
After showing the apartment, you need to follow the client for 20 minutes so that he does not return to the apartment
Do not allow the owner and client to communicate with each other
And similar items. Very thoughtful technology and knowledge so that the buyer and seller do not bypass the realtor. Loss of commission is a fairly common problem for realtors in the secondary market. For new buildings, the realtor’s competitors are the sales department. Everyone is trying to fight for the buyer and go to many tricks to make money.
Who should check the documents
A lawyer should be involved in transaction support and risk assessment. He has accumulated experience and knowledge over the years in order to understand all the legal intricacies and risks in real estate documents. The lawyer received a specialized education, has practical experience and faces such problems every day.
Their services are 5-10 times cheaper compared to intermediaries. Therefore, verification of documents should not be the responsibility of a realtor. Lawyer
Everyone must do their job. Don’t pretend to be an expert. People who trust the purchase of real estate, verification of documents to realtors simply do not know that they were misled.
A good realtor will tell you that you need to contact real estate lawyers and check the documents and assess the risks before re-registering an apartment with a notary. Notaries are engaged in re-registration of apartments.
Therefore, not everyone knows that after the transaction, the buyer may have problems with the former owners and the notary will have nothing to do with it. To protect yourself from this, you need to check documents by real estate lawyers.
Realtor or lawyer
Better to contact a lawyer. He definitely knows how to check documents and protect you from possible risks when buying or selling real estate. You can choose an apartment yourself or with the help of a realtor, and a lawyer will accompany the transaction.
And the deal itself draws up a notary. It is this person who is responsible to the state for re-registration of real estate to a new owner. He checks the documents for availability, looks through the databases for bans, arrests and certifies the deal. After registration, it is the notary who issues a certificate of ownership to the new owner.
The task of the notary is to re-register the property. If all documents are available, then the transaction takes place. But the task of notaries does not include risk assessment, so some buyers then sue their property with former owners.
Conclusion – what a realtor needs to know for work
Realtors provide only information services. Further, all the problems that were with the documents fall on the buyer. So, hopefully, now you figured out what a realtor should know and what he really knows.
Knowledge for the work of a realtor does not require as much as it seems, but not enough. You need to be able to work with people and sell well. You need to be a confident person and have a good understanding of people.