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What are the agent's obligations to his or her client? |
A client may be either a buyer or a seller depending on the type of agency. Below are the agent's obligations to his or her client:Obedience : agent must carry out all lawful instructions of the client. Loyalty : agent must act in best interest of client. Disclosure : of all information that is relevant to client. Confidentiality : agent must keep the client's information or discussion private. Accountability : agent must account for all money, documents, or other personal property given to him or her by the client. Reasonable Care and Due Diligence : agent must be competent and capable of performing duties with scope of license requirements.
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What Are Property Tax Allowances? |
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Property Tax Allowances provide an opportunity for property owners to reduce their taxable income. There are a number of property tax allowances available to property owners, investors, and developers. We highly suggest you consult with a knowledgeable accountant who can better advise you in this matter. |
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What is the Multiple Listing Service (MLS) and how does it work? |
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The Multiple Listing Service (MLS) is a database for thousands of listings throughout Greater Boston. You can choose to work with any agent who is a member of the MLS network regardless of what company he or she represents. We recommend that you only work with one agent per area since all offices through the MLS network access the same listings. All brokers and agents must abide by MLS regulations. Once you are working with an agent of your choice, you should let him or her complete the transaction for you regardless of whom the listing agent is. It is customary for listing and selling agents to work together to help you finalize your purchase. |
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What is the typical process to buying real estate? |
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Below is the typical 5-step home buying process: - After your mortgage loan pre-approval, you'll meet with your agent of choice to establish a relationship and assess your needs.
- Search and locate the right property.
- Make an offer. This is followed by the property inspection and other contingencies.
- Sign the Purchase and Sale agreement and review the documents.
- Final walk-through and closing.
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What is mortgage pre-approval and why is it important? |
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Before you know how much you can afford to spend on a new home, you need to consult with a mortgage broker. Then next critical step is meeting with your mortgage broker to discuss your income and debt amounts to help you determine an affordable price range and a monthly mortgage payment. We recommend that you determine how much you can manage to spend before you consider purchasing a new home.
Pre-approved buyers are more appealing to sellers: t means you are ready to place an offer. |
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What are the benefits of owning real estate? |
Some major benefits include:an incredible return on investment, lowered taxation, equity preservation, security of owning your own piece of the world, the ability to pass along property to future generations.
For first-time buyers, buying a home means paying rent to yourself while preserving your initial investment. For investors, buying real estate is a form of retirement planning or a diversified investment plan. At Skyline Realty, we work to understand your needs and tailor a purchase strategy that meets your short or long-term goals. |
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Why should I use a real estate salesperson? |
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A real estate salesperson is more than just a "sales person." They act on your behalf as your agent, providing you with advice and guidance and doing a job - helping you buy or sell a home. While it is true they get paid for what they do, so do other professions that provide advice, guidance, and have a service to sell --such as Certified Public Accountants and Attorneys.
The Internet has opened up a world of information that wasn't previously available to homebuyers and seller. The data on listings available for sale is almost current - but not quite. There are times when you need the most current information about what has sold or is for sale, and the only way to get that is with an agent. If you're selling a home, you gain access to the most buyers by being listed in the Multiple Listing Service. Only a licensed real estate agent who is a member of your local MLS can get you listed there - which then gets you automatically listed on some of the major real estate web sites. If you're buying or selling a home, the MLS is your agent's best tool. However, the role of an agent has changed in the last couple of years. In the past, agents were the only way home buyers and sellers could access information. Now agents are evolving. Because today's home buyers and sellers are so much better informed than in the past, expertise and ability are becoming more important. The real estate agent is becoming more of a "guide" than a "salesperson" -- your personal representative in buying or selling a home.
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What is the difference between a real estate agent and a real estate broker? |
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Most states require real estate sales professionals to be licensed by the state, so that they can control education and experience requirements and have a central authority to resolve consumer problems. The terminology used to identify real estate professionals varies a little from state to state. Brokers are generally required to have more education and experience than real estate salespersons or agents. The person you normally deal with is a real estate agent or salesperson. The salesperson is licensed by the state, but must work for a broker. All listings are placed in the broker's name, not the salesperson's. A broker can deal directly with home buyers and sellers, or can have a staff of salespersons or agents working for him or her. |
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