Sunday, March 30, 2008

Buyers And Sellers Select Your Realtor Wisely

This is inspired by an experience I had with a high-end buyer in Summit New Jersey who was not at all educated by their hopefully "previous" realtor on issues that surprised me. It is more than a little disturbing to me to find out that a buyer would know nothing about a Consumer Information Statement, Seller's Disclosure and in this case the New Jersey "mansion tax" or buyer's transfer tax.

Buying or selling your home is a big transaction and choosing the right realtor is imperative. In most cases if not all, this is your largest investment. Buyers and sellers, please be sure to entrust this transaction to a full time real estate professional with experience and a track record. Someone who is in a position to give you expert advice on homes in Summit NJ or your market area.

Do not make the mistake of using someone as a "favor" to someone else...your brother-in-law, a friend's mother who does this part-time. You want to be sure your realtor is active in real estate and relies on selling real estate for their livelihood. Someone who sells real estate full time will be knowledgeable about real estate technology, the market area and will listen to you specific needs.

New Jersey Real Estate Sales

The first discussion a realtor is required to have with their buyer or seller is agency relationship. In New Jersey, we have Sellers Agents, Buyers Agents, Dual Agents and Transaction Brokers

Any buyer purchasing a home $1M will have the added expensive of a 1% tax on closing.

If a buyer is seriously interested in a home, their agent should provide them with a "Sellers Disclosure". This is a form that is completed by the sellers with lots of additional information on the home...ages of roof, appliances, windows, etc.

Please at least ask a few basic questions of your realtor. Any accomplished realtor will not have a problem with this and probably welcome the opportunity. Some basic questions to start with:

  • How many years have you been selling real estate? Full time?
  • How many transactions $ volume are you doing a year?
  • Have you attained area, regional achievement awards?
  • Do you have a website and strong web presence?
  • Can you provide me with references of former clients?
  • Your realtor is someone you should be comfortable with and trust in them and their knowledge. They will be your advocate and adviser whether you are buying or selling. Together you will talk about various possibilities and nuances. Your realtor should be able to predict and help you avoid difficult situations where possible to keep your transaction smooth and stressfree.


    Susan Zanzonico - Realtor - New Jersey Mid-town Direct Real Estate. Considering a move? For expert advice on homes for sale in Morristown Madison or Summit NJ real estate area contact me. Search for real estate on the MLS

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