Realtors all have their own personal
style and traits in showing-casing,
promotion and negotiation of the
purchase or sale of a new home.
Realtors
need to develop their own system
and clearly specify the value
of the services they provide.
This system is a mix
of talents, skills, knowledge
and personal characteristics.Realtors add
value to the process through their
experience which includes market
knowledge, product knowledge and
negotiating skills.
Traits
of a good Realtor
Expertise –
Buyers want Realtors to inform
them of what to expect from the
process. Realtors with years of
credible experience are generally
preferred over people just starting
out.
Specific Market Knowledge
– Beyond commenting on the
structure itself, consumers wanted
Realtors to provide insights into
the neighbourhood.
Good Listeners
– Described as one of the
most frequently missing attributes,
buyers and sellers could not emphasize
the importance of this trait enough.
Strong Negotiators
– Negotiating is the one
part of the process that most
people feel they cannot successfully
do on their own.
Flexible –
After being in the market for
a while, client's interests and
needs change. They need their
Realtor to recognize their new
interests and not have to argue
with their Realtor to change direction.
Hardworking
– Good Realtors do their
homework. The are to be working
hard to promote a property or
alternatively, pouring over listings
to find a suitable purchase option.
Trustworthy
– The more balanced a REALTOR
is in their home presentation
and comments, the more trustworthy
they are perceived to be.
Diligent –
Buyers and sellers want to know
that their Realtor has a passion
for the business and can be counted
on to be looking out for their
clients 24/7.
Helpful –
The distinction between helpful
and intrusive is clear: Helpful
is useful insight when appropriate.
Intrusive is endless insight and
smothered clients.
Hungry –
Even though the expertise that
generally comes with years of
experience, it is also it is an
asset to have a Realtor who has
not achieved a level of success
associated with insolence.
Full
Disclosure
What is commonly
referred to as 'Agency Disclosure'
is the requirement that a Realtor
is required to explain the nature
of their relationship with all parties
connected with any Real Estate transaction.
There are substantial differences
in the duties owed and the services
provided to Clients and Customers,
and you should be familiar with your
options before committing to either.
Agent:
While the term
"Agent" is not specific
to the Real Estate industry, most
Real Estate Salespeople, Brokers
and Realtors act as Agents when
conducting business. An Agent
is defined as any person who represents
another person in a business transaction.
Fiduciary:
A person in
a position of trust and confidence
who must put the interests of
their client above all personal
belief or benefits.
Client:
A person who
is represented by an Agent during
the purchase, sale, exchange or
rental of a property or business.
An Agent owes their clients full
fiduciary duties, such as loyalty,
confidentiality, accountability,
duty of care, obedience to all
lawful instructions, and full
disclosure of all relevant information
pertaining to the transaction.
Customer:
A customer has
not retained an Agent to work
on his or her behalf. While a
customer does not enjoy the fiduciary
duties and benefits of the Client-Agent
Relationship, they are nevertheless
entitled to be treated fairly,
honestly and with due care at
all times.
Types
of Agency Relationships:
An agency relationship
is created when a person, known
as the client, asks another person,
known as an Agent, to act for and
on their behalf in a business transaction.
There are two basic types of agency
relationships:
Single Agency:
When an Agent
exclusively represents a single
client's interests in a transaction.
Dual Agency:
In certain circumstances
an agent may represent both the
Seller and the Buyer in a Real
Estate transaction. Because a
Dual Agent owes the same fiduciary
duties to both clients, it is
often difficult to ensure that
everyone's best interests are
being protected. Because of this,
the written informed consent of
both the Seller and the Buyer
is usually required before an
Agent may represent both.