Posts Tagged ‘Agent’
Role Of Real Estate Agent In Vacation And Second Home Markets
Posted by admin in Real Estate on March 4th, 2010
Second home sales have been increasing over the last few years with more people becoming second home owners. In 2005 alone, 40 percent of the homes sold were second homes. Demographics, all time low mortgage rates, and healthy rise in home prices have contributed to this development in the second home market. Besides these, a major factor that has helped augment the buying and selling of second homes is the real estate professional.
The National Association of Realtors conducted research on the profile of second-home owners in 2006. According to the NAR report entitled ’2006 Profile of Second-Home Owners’, a majority of second home sales transactions are conducted using the services of real estate agents.
The statistics are remarkable; 64 % of vacation home buyers purchased their home using the services of a real estate agent by the end of 2005 – a marked increase from less than 50 % of vacation-home buyers in 2003. Also, 65 % of investment-home buyers purchased their home with the help of a real estate agent – an increase from 53 % of pre-2003. In comparison, only 14 % of vacation-home buyers and 7 % of investment-home buyers purchased directly from builders from 2003 to 2005.
The growing role of the real estate professional is evident from the following figures:
1. Of vacation home sales made, 71 % of them were second homes and 74 % of the sales were made using the services of a real estate agent.
Do You Need A Real Estate Agent?
Posted by admin in Real Estate on March 1st, 2010
Real Estate business has seen tremendous growth and so has been the need of Real Estate agent. Today more and more people are getting interested to become home owner and as the demand for real estate need increases the role of Real Estate Agent becomes more important. In the past one agent use to provide services to both seller and buyer but as the real estate market changed people started to realize that specialized service is more logical and beneficial. In Real Estate industry now buyer/seller are looking for specialized agents who can provide specialized related expertise, information and services required to complete the process. When a real estate agent represents both buyer and seller it really restricts agents to provide impartial service to either party.
Let’s look at the both (Seller/Buyer) scenario separately. A real estate agents who is a listing agent of seller has a fiduciary, ethically and moral duty to represent seller only.
By getting Exclusive Right to Sell Listing, the real estate agent is promising seller that he will live no stone unturned to market the home and find the best buyer at maximum possible market value for the home.