Century 21: Premier Realtors

There have been recent instances where the buyer is not represented by a Licensed Realtor with poor outcomes to sellers.

A buyer, who is not represented, can legally close on Real Estate by using a contract created through an attorney.  

One recent seller, who was legally unable to close by the closing date, was accused of being in default of the contract. They are being sued for the amount of their home; $260,000 - can you afford to risk that?

Many clauses can be added to these types of contracts. One example can be the ability for the entity whom you think is buying your home can sell the contract to another entity or investor.

Those types of contracts could potentially be written to benefit the party having it created over the other party.

In this case, that attorney had a fiduciary responsibility to the buyer and not the seller.

Licensed Realtors use Texas Real Estate Commissioned (TREC) Promulgated forms and Texas Realtor forms. In very few instances a Broker approved form is used to fill a gap.

These forms are meant to protect buyers AND sellers!

Below are some examples of TREC forms. Attorneys create and periodically update these forms so they are standardized across Texas. This is meant to protect you. Click on the forms to see some of what you should expect.  

If you choose to proceed as a FSBO, help to potentially protect yourself by recognizing a buyer with a Realtor who uses TREC or TAR forms.

A Licensed Realtor has a fiduciary responsibility to a client (buyer or seller) whom they represent.

One of the more common outcomes is that a FSBO doesn't sell their house for what it should go for.

Buying and Selling real estate is emotional; regardless of what someone says. Some folks get more emotional than others. Having a Licensed Realtor keeps their client one step removed and understands the process.

There have been instances where a FSBO has unrealistic expectations when it comes to selling price that doesn't line up with a Competitive Market Analysis (CMA). An FSBO could also be unreasonable when it comes to negotiations. A Licensed Realtor representing the Seller could be that sounding board for the Seller by thinking with a clear head. This could be the difference between a sale, lack of an offer, or a lawsuit. 

Some License Realtors have said they only want to deal with other Licensed Realtors.

Licensed Realtors are on the FSBO's timeline when it comes to showing potential buyers the home. This could be unappealing to a potential buyer.

Think of a friend you have not seen in a year and one that you see several times a week. Both have started exercising and lost 30 lbs. Seeing your friend from a year earlier will come as a bigger shock than the one who you see on a weekly basis.

The same type thing is true when it comes to your home / property. Seeing and accepting, by not correcting, will make you numb to the flaws and subconsciously ignore it. The same holds true to smells. If you like to cook fish or something with a strong odor often, there is potentially a lingering smell within your house that you are use to smelling.

Working with a Licensed Agent will give you honest feedback. This can arm you with information that might provide you with a higher sale price than expected. Licensed Realtors and their Brokers have fingers on the pulse of the local housing market.