Trying to sell property on your own “FSBO” — For Sale By Owner — in real estate speak can be done, but gets tricky. Some people are reluctant to give up the commission fee to a real estate agent, but consider that the amount you pay may be exceeded by the amount the agent can get for your house, relative to what you could get on your own.
The alternative is to go through a real estate agent. If you choose to have a real estate agent help you with your real estate deal, your best option is usually to go with a Realtor, a real estate agent that is a member of the California Association of Realtors and the National Association of Realtors. These are real estate agents held to the highest standards of quality and ethics. They offer an ideal opportunity to get the best price you want for your property. If you are buying a property, you can find the property you are looking for at the right price.
Duties of a California Real Estate Agent
Ethics
A California real estate agent is obligated to provide true and honest information about a property’s market value, and not to allow his or her own interests to interfere. He or she must also deal with all parties involved in the real estate transaction fairly and honestly.
Selling
If you are a seller, a California real estate agent should put forth his or her strongest effort in securing a buyer for your home. This entails finding out your particular selling needs (speed of sale vs. price) and conforming to them. Ideally, he or she will be able to list your property on an MLS database, allowing a network of real estate agents to have access to the property and speeding up the sale process.
Buying
If you are a buyer, your California real estate agent should be able to provide you with multiple options for your price range and desired home and location. A real estate agent should also be able to advise you on where and how to secure a mortgage and help you with the escrow process.
It’s a good idea to meet with a few real estate agents before settling on one. Talk with the agent, explain your needs and see if you feel comfortable with the individual who will be helping you to buy or sell your home. Once you’ve spoken with a few different agents, you should have a better idea of who you trust with your real estate transactions.
