Realtor Expectations
Once you select a REALTOR you will want to establish a proper business relationship. You likely know that some REALTORS represent sellers while others represent buyers. Each REALTOR® will explain the options available; describe how he or she typically works with individuals and provide you with complete agency disclosures (the ins and outs of your relationship with the agent) as required in Tennessee.
Once hired for the job, the REALTOR® will provide you with information detailing current market conditions, contacts to discuss financing options and negotiating issues that might apply to a given situation. Remember: Because market conditions can change and the strategies that apply in one negotiation may be inappropriate in another, this information should not be set in stone. During your time in the marketplace REALTORS® will keep you updated and alert you to each step in the transaction process.
How to evaluate an agent
In making your decision to work with an agent, there are certain questions you should ask when evaluating a potential agent. The first question you should ask is whether the agent is a REALTOR®. You should then ask:
• Does the agent have an active real estate license in good standing? To find this
information, you can check with your state’s governing agency.
• Does the agent belong to the Multiple Listing Service (MLS) and/or a
reliable online home buyer’s search service? Multiple Listing Services
are cooperative information networks of REALTORS® that provide
descriptions of most of the houses for sale in a particular region.
• Is real estate their full-time career?
• What real estate designations does the agent hold?
• Which party is he or she representing–you or the seller? This discussion is
supposed to occur early on, at “first serious contact” with you. The
agent should discuss your state’s particular definitions of agency, so
you’ll know where you stand.
• In exchange for your commitment, how will the agent help you
accomplish your goals? Show you homes that meet your requirements and
provide you with a list of the properties he or she is showing you?
