Comments for Full Service Realty

Comment on Does a home realtor have any responsibility to inform potential buyers if a property is NOT insurable? by estielmo

estielmo — Mon, 09 Nov 2009 14:19:58 +0000

Insurable? Do you mean is the house safe to occupy? An insurance agent has NOTHING to do with that. It’s why you hire a building inspector to grade it.

Comment on Does a home realtor have any responsibility to inform potential buyers if a property is NOT insurable? by Dawni Do Right

Dawni Do Right — Sun, 08 Nov 2009 17:14:05 +0000

There is a certain implied knowledge upon viewing a home. If it appears in bad run down shape, it is obvious it may not even be habitable, let alone insurable. Real estate agents are licensed to sell real estate, not hazard insurance and would not even begin to know the varying requirements that numerous insurance companies have.

Our MLS implemented an insurance clause in our financing addendums that allow a buyer to make their financing and offer subject to obtaining an insurance binder for their determined maximum amount. If a policy can not be obtained at an amount at or less that stipulated, the agreement is voided and the buyer’s earnest money is refunded.

The insurance company may or may not require a copy of your home inspection. It is your responsibility to have and pay for a structural or home inspection. Most states require a disclosure from a real estate professional that you have been advised to obtain one, in the event you decline to have one.

Comment on Does a home realtor have any responsibility to inform potential buyers if a property is NOT insurable? by acermill

acermill — Fri, 06 Nov 2009 11:24:56 +0000

Yes, it is your responsibility. The agent has no way of knowing whether or not a particular insurer will write a policy on a particular property. The job of the real estate agent is to sell the property. Checking into insurability is NOT a part of that job.

Comment on Does a home realtor have any responsibility to inform potential buyers if a property is NOT insurable? by BrokerPro

BrokerPro — Tue, 03 Nov 2009 19:35:27 +0000

Insurance companies are getting really picky these days- they use a national data base C.L.U.E. report to verify if there have been previous claims on the house to determine what pre-existing conditions might be issues. Some will not issue policies if the roof is wood shake, or the plumbing is original galvanized because of the related issues from those conditions. You should talk to some local insurance brokers and find out what would disqualify a home from coverage in your area.

Comment on What exactly is your Realtor supposed to do for you? by Joe R

Joe R — Thu, 20 Aug 2009 18:17:34 +0000

It is unfortunate but true that in MOST cases once they get the listing they really are not very active in trying to sell it. Yes, they put the listing in the MLS, a magazine, and MAYBE one open house in the six month listing period, but that is it. The listing agent hopes someone will drive in front of your house and the curb appeal will get them to call the number on the sign or that another Realtor will bring a buyer.

The whole Realtor game is listing driven. Why? because they can not control the buyer. The buyer can go to any Realtor or any seller he desires and is not bound by an exclusive contract like the homeowner is. So they can only control the selling side of the transaction.

Many experienced buyers bypass the Realtor and buy FSBO (for sale by owner). They can negotiate directly with the seller and save the cost of commissions sometimes as high as 7% or 8%.

You should insist on your Realtor having open house at least every other weekend, have her mail 5,000 post cards to your zip code showing YOUR house is for sale and listing its features, insist placing at least 8 or 10 directional signs to YOUR house, insist on kicking up the advertising on your house specifically, insist they hire people to hand out flyers at the mall close to your house, have your Realtor fax and e-mail all the mortgage brokers in your area. It is all about getting the word out.

It is extremely important that all the advertising focuses specifically on your house, NOT general advertising for the Realtor.

Comment on What exactly is your Realtor supposed to do for you? by baryymahoginer

baryymahoginer — Thu, 20 Aug 2009 13:13:51 +0000

Your listing agent (your Realtor) should not be at your home during showings. That is why the perspective buyers have an agent with them. Your Realtor should be marketing your home in magazines, on-line and newspapers. There is not much a listing agent can do in a bad market. She/He can’t create buyers for your home. Is your home overpriced? Maybe you should discuss lowering the price with your agent.

Comment on What exactly is your Realtor supposed to do for you? by xls8000

xls8000 — Thu, 20 Aug 2009 05:53:34 +0000

Usually the agreement with the buyers’ agents is that the seller’s agent doesn’t have to be there when its shown. He might not be advertising enough, probably because he might think you’re either, one, asking too much for it, or, two, he doesn’t think it’ll sell soon.

There are two types of realtors (usually) when doing real estate. A buyer’s side realtor and a seller’s side realtor. Once you receive an offer from a buyer, it’ll go through your realtor who will help you negotiate and eventually close on the deal.

Comment on What are the advantages of using a realtor to buy a house? by George C

George C — Sun, 16 Aug 2009 20:48:24 +0000

If you don’t have any time to spare use a realtor.
If you do have time to spare and don’t mind doing all the work to save a nice chunk of money, then sell it yourself. It’s not hard and usually the real estate lawyer that will ratify the property transfer will take care of everything anyway. If you want to advertise your house yourself for free try …

Comment on What are the advantages of using a realtor to buy a house? by THE SINGER...

THE SINGER... — Fri, 14 Aug 2009 16:43:15 +0000

You can buy a house on your own however, you must do a lot and I mean a lot of research about the laws, taxes, etc. A realtor is a person who is supposed to KNOW all the details that usually go on behind the scenes. Someone looking for a house usually has the asthetics as a major factor…they don’t think details. I used a realtor, and I might as well not have. I was in the house not one year and discovered that when it rains hard - the house floods. I have a feeling the realtor might have known that. The sellers definitely knew! When it was all said and done around the closing table - I was so tired and worn out from moving two houses into one, that I was glad it was over with. Then the rain came. And every year for the 6 years I stayed there - I was living in mold and mildew and it quickly formed a legion in my lungs and caused me upper resp. problems and asthma. Of course, the insurance company got out of it - the past owners denied it, the realtor - no where to be found - until it was too late. I say get a realtor and STAY ON HIS ****! They are supposed to work for you because they are after their commission - but some of them are snakes. Do your homework and make sure that you know everything that’s going on. Keep a diary and make your own phone calls. (yea, I’d call behind the realtor) but hopefully, you can get one that you trust. Everybody will have to signing up to contract you - obligate you to them - and then you can’t get out without being sued. Be careful who you select.

Comment on What are the advantages of using a realtor to buy a house? by me45404

me45404 — Fri, 14 Aug 2009 11:15:36 +0000

If just to make sure you are following all the laws associated with real estate these days , its worth it. My brother almost went to jail selling his house on his own, how hard can it be , he said. He found out.