- A couple works with a real estate agent
In real estate, the party that the buyer and the seller or the purchase or sale of a property represents, is as an intermediary. In Mexico, as in other countries, the duty of the agent, its main ethical and professional way has to deal with. The obligation to represent the interests of his clients is to make it very difficult for the agents of consciousness both buyers and sellers because the buyer wants the property for the lowest price and the seller to buy is to find the largest amount of money he can get for his property.
In this sense, how can an honest conscientious agent represent both sides? Almost everyone will agree, there is a conflict of interest when someone on fairly represent both sides of a transaction attempted.
No matter how much we need or want the money will come from a full commission, better to call a colleague to represent one side or the other. In this way, the two share in the Commission are the two most done with honesty and justice needs and the agent is advised to provide their customers with services to other friends and acquaintances
It ends up being a win-win for all!
To strengthen relationships with customers buying or selling, it is important to understand and discuss with the client to describe the duties of the buyer’s agent, the obligations of the seller’s agent and to treat them as important topics such as money, if the price is negotiated. The confirmation of the relationship must be signed by the buyer or seller clients.
This not only confirms most of the fiduciary relationship, but also the customers know that an agent exclusively for her work, and the other does not, it is much more likely to remain loyal to his / her agent.
And what are the duties and responsibilities? In other words, the seller, the agent an obligation to advise the seller as the sales price is fair and proportionate to the importance of disclosure of defects in the property, and the more goods to offer the widest possible audience. The purpose of this course is to get the best possible price for the property.
Buyer Agent should help the client the best possible good, that correspond to the demands of the buyer. Once these are found, the property must be inspected for negotiating the suitability for the intended purpose and the price more attractive and possible conditions for the purchase of the property.
In all cases, the agent must treat all parties honestly and fairly.
PROFESSIONALISM … everyone talks about.
What does a professional agent? What are the elements that contribute to the professionalism of an agent’s relationship with his or her customers?
Knowledge and experience: The true professional has an absolute knowledge of the subject he or she is talking. How do we achieve absolute knowledge?
Education is a good start. We must be like a sieve, take everything about real estate on the right side, the construction on land use. There is always a good idea to have a better knowledge and understanding that what was needed for each individual case.
Experience in a transaction together is valuable not only for the current sale, but for the future, they must be stored in the memory bank for the next transaction, or perhaps a dozen transactions on the line.
Occur for the new drug, the lack, it is advisable to never lie or think the answer to the question of a customer. It is quite correct to admit that you do not know and I will add that to discover … and then do what you learn from the survey provide valuable information for the bank of experiments for the next time the same or similar issue is raised!.
Punctuality is a sign of professionalism and quality super important for a successful real estate broker. Not only the agent always on time, but he or she should always be prepared. Is the essence need a car? If a contract must be picked up or filled? Is there a promised answer? Accordance with the promises and commitments to help build respect. Delays waiting in an office of the notary, to repeat that a document – all that is necessary from time to time should be avoided, however possible.
COMMITMENT Listen, really listen to the needs and dreams of the customer, whether a buyer or seller. If the needs and requirements are appropriate to undertake to help the clients achieve their goals. If requests are unreasonable, explain and demonstrate why they are not realistic and help you find the more reasonable goals.
LOOK AHEAD consequences; From experience we learn what can reasonably expect. Examine all aspects of the transaction as planned. If it together? Is it effective? If not, why not? What are the problems? Problems before they spiral out of control. Be creative!
Honesty: Do not attempt to conceal or mislead. A smart buyer or seller suspect a problem. It’s much better to tell the truth about a situation. The buyer or the seller will often have a much better solution than the agents found, then everyone will talk to accept it!
ETHICS: The successful real estate agent is ethical. Those who take no cut corners. The easiest way to be ethical is to ask: How would I be treated under the same circumstances? This is another way to say “. Treat others the way you like to be treated” According to the proverb, it is almost impossible to deviate. This philosophy is in the Code of Ethics of the Mexican Association of Real Estate Professionals (AMPI) and the National Association of Realtors ® (NAR) expressed.
The label of the cooperation: with the advent of agents of the buyer and seller agent is any economic benefit through cooperation. Communication is important and has never been simpler. Multiple listing systems are wonderful tools that help agents promote the properties listed seller and buyer agents to find the ideal properties. Good humor and patience will go a lot further than anger or frustration. Each area has its own rules for cooperation and exchange of commissions. The following is a guide:
1st The buyer and the buyer’s agent to the company to hold funds and to oversee the transfer. Finally, it is usually the buyer who pays for the transfer.
2nd Commissions are at the company where the agent never paid directly to the agent.
3rd Sales commissions are normally agreed upon with the seller as a percentage of the negotiated purchase price, plus tax on the value. These amounts committee should be made by all parties in trust for the release on the signing of the law. An invoice for services must always be presented to the paying party commission, usually the seller.
4th Company, the buyer and seller usually split the company, which produces the total amount of commissions from the sale, 50-50.
5th Referral fees – in which an agent sends a potential customer to another agent, who is often from one region to another, typically earn 20% to 25% of the share of the buyer or the seller’s commission.
In Mexico, the law of agency in Articles 273-308 of the Commercial Code is included. A copy of this article is available in English and Spanish on request.
In summary, it is much easier to cross one side of a transaction instead of representing the fence and try to advise the buyer and seller on the same grounds. It is not only easier but also in the long run, more profit, because the agent is able to respect, money orders, provide reinforcement and professional services to more customers.