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Home » Business And Finance Articles » How Much Does My Real Estate Agent Need To Know

How Much Does My Real Estate Agent Need To Know?

Real estate agents would say that the more you tell them, the better they can negotiate on your behalf. However, the degree of trust you have with an agent may depend upon their legal obligation. Agents working for buyers have three possible choices: They can represent the buyer exclusively, called single agency, or represent the seller exclusively, called sub-agency, or represent both the buyer and seller in a dual-agency situation.

Some states require agents to disclose all possible agency relationships before they enter into a residential real estate transaction. Here is a summary of the three basic types:

1. In a traditional relationship, real estate agents and brokers have a fiduciary relationship to the seller. Be aware that the seller pays the commission of both brokers, not just the one who lists and shows the property, but also to the sub-broker, who brings the ready, willing and able buyer to the table. It most cases you will have 2 broker's splitting the commission.

* Dual agency exists if two agents working for the same broker represent the buyer and seller in a transaction. A potential conflict of interest is created if the listing agent has advance knowledge of another buyer's offer. Therefore, the law states that a dual agent shall not disclose to the buyer that the seller will accept less than the list price, or disclose to the seller that the buyer will pay more than the offer price, without express written permission. Many times it makes sense to "assign" someone in your office one side of the transaction, thus assures there is no conflict of interest.

* A buyer also can hire his or her own agent who will represent the buyer's interests exclusively. Sometimes a buyer's agent must be paid out of the buyer's own pocket but the buyer can trust them with financial information, knowing it will not be transmitted to the other broker and ultimately to the seller. More often the seller pays both the selling broker and the buyer's broker.

And here is another random article you might be interested in...

Monday Mindfulness

Table of Contents
1. On Special Offers and Invitations
2. On Our Dream
3. On Sincerity
4. On the Waitress Mentality
5. On Impact
6. On Useful Web Sites and Announcements
7. On Subscribing and Unsubscribing (at the end of newsletter)

Welcome to Monday Morning Mindfulness . . . to my clients, colleagues and friends. Join me every other Monday in getting motivated and inspired to act/think/feel differently.

1. ON SPECIAL OFFERS AND INVITATIONS

Would you like to be more successful with your business? Scroll down the page and listen to an audio message from Coach Sandra. http://www.schrift.com/welcome.htm

Would you like to be a paid speaker? Learn how to connect with your audience? Persuade people to act on what you say? You can get answers to these questions and more at: Approach the Coach. Go to http://www.schrift.com/approach and ask me your number-one question about speaking skills or speaking professionally. I will answer your questions by email within 48 hours.

What if you could have two coaches sitting by your side and guide you through the skill of speaking confidently and persuasively ? Now you can. An Audio CD , Power Presentations for Professionals, will help you master a few simple, yet sophisticated strategies. Do you want to learn how togive a compelling speech? Would you like to know what sets leaders apart? Are you ready to prepare a speech that hits your audiences hot buttons? In this audio CD, two professional speech coaches share the lessons they've learned from their combined 46 years in the field. High content and useful application for business professionals, emerging speakers and coaches. For full description and to order. http://www.schrift.com/Power_Presentations_for_Professionals (available as a CD or MP3 download)

2. ON OUR DREAM
Its the Dream

that something miraculous will happen
that it must happen-
that time will open
that the heart will open
that doors will open
that the rockface will open
that springs will gush-
that the dream will open,
that one morning we will glide into
some little harbor we didnt know was there.
--Olav Hauge

The Coach asks . . . what am I looking for? It could be right here maybe I have it?

3. ON SINCERITY

Professor Dacher Keltner did a study which indicates that the British have a more sincere, hard-to-fake smile than Americans. They are more likely to raise their cheeks when they smile, revealing the crows feet at the corners of their eyes. The smile doesnt fill our stomach, but you can take it to work and bring it to the platform. It will reduce our stress and that of others, help make an instant connection with people and provide an environment where anger is reduced an learning is increased. The Coach sings . . .When youre smilin, the whole world smiles with you.

4. ON THE WAITRESS MENTALITY

CEO, Carolyn Gable, www.newagetransportation.com who was formerly a waitress, learned how to get along with the bartender, the cook and everyone else to go home with money in her pocket. She brings that attitude to her business keeps her employees, customers, and bank happy. She also learns this from her truckload of children (total 7). That really great feeling when you can see your child start to read is similar to seeing your employee whos been struggling finally get it. She draws several parallels between her children and her employees.

1. Never take clients (children) for granted.
2. Keep your word and follow through on promises made to clients (children)
3. Hire employees with a positive attitude who will be enthusiastic about their work and your customers needs.
4. Never criticize the competition. Focus on your business, not theirs.

The Coach thinks . . . a heavy dose of optimism and sunny disposition is a great formula for personal and professional success.

5. ON IMPACT

Neale Donald Walsch, author of bestseller "Conversations with God: an Uncommon Dialogue, creates a fresh perspective on conversing with God. As a speaker, he engages his audiences with his light, humorous writing style and makes his heavy material palatable. Walschs impact is so big because he makes skillful use of modern communication tools. The former radio reporter and amateur actor knows that it is not only the content of a message that is important, but the delivery as well. The Coach sez . . .if you need some help on being a better public speaker now, go to: http://www.schrift.com/Power_Presentations_for_Professionals/

6. ON USEFUL WEBSITES AND ANNOUNCEMENTS

Visit my new Blog (an online journal) at www.schrift.com/blog Learn about the benefits of having a niche, Feel the Fear . . . and Speak Up!, and Ten Tips to Motivate Your Audience in to Action and on to Your Website. Tell me what you think . . . and add your own comments.

"Speak Like a Pro for Profit": Struggling to get clients? Want to have a full speaking calendar? This e-book contains proven tips and techniques to become a polished presenter to speak effectively to anyone, anywhere, with confidence. I wrote this for speakers, coaches, authors and business professionals who want to deliver masterful presentations and/or grow a profitable speaking business. Only $8.95. Go to http://www.schrift.com/speaklikeaproforprofit/index.htm for details. "This book provides practical and sound advice. I have worked with Sandra and find her knowledge and guidance invaluable." --Dr. Christine Wood, Pediatrician, speaker, author

Download reports to help you with your public speaking skills http://www.schrift.com/tips.htm

Are you looking for an effective spam killer? Test drive it at:http://www.cloudmark.com/desktop/

Here is a very valuable online color chart: http://www.flagdist.com/PMS%20color%20chart.htm

Lets meet in; Denver, May 9-13; Phoenix, AZ, May 21-23; Palo Alto, CA, June 20-28. When you are visiting San Diego, contact me,sandra@schrift.com Lets share conversation.