I refer individuals to real estate agents on a regular basis. If you have an interest in hiring a real estate agent, please give me a call. I will be happy to connect you with a person who will work hard to sell your home, communicate effectively with you, and explain your options as a home buyer or seller.
An important first step in selecting a real estate agent is to obtain references. A family member or friend can often provide a good referral. However, I am very experienced with several real estate agents. I can provide more insight into the selection of a good real estate agent.
The Seller's Agency Agreement.
Utah law requires a real estate agent to provide a written agency agreement to the seller. In addition, if the seller's home will be listed on the multiple listing service, a listing agreement is also necessary.
I have developed an addendum for the seller's agreements with the real estate agent. The addendum adds several provisions to the agency agreement for the benefit and protection of the seller. If the real estate agent is comfortable with a completely different listing agreement, I can also provide a complete agency agreement, in lieu of the addendum.
The addendum provides a specific benefit to the seller-realtor relationship. The first part of the addendum allows the parties to describe the work which the real estate agent will perform as part of the agency agreement. This helps to avoid misunderstandings and ensures that the real estate agent will do the work which is expected.
The addendum also provides specific protection to the seller. The second part of the addendum provides certain options whereby the seller may cancel the listing and agency agreements. Although many realtors will not agree to a total discretionary termination of the listing agreement, all real estate agents should be willing to agree to termination for cause if they do not perform the services expected.
Many sellers would be surprised to learn that without the addendum the listing and agency agreements they will receive from the real estate agent generally contain no description of what the real estate agent will do and no provision for termination of the agreement. This has resulted in many bad experiences for both sellers and real estate agents. The addendum helps the real estate agent to do a good job, to meet the expectations of the seller, and to maintain a positive relationship. The addendum protects the seller from a real estate agent who fails to do their job. Nonetheless, picking a good real estate agent from the outset is still the most important step in avoiding any problem listing a home.
The Buyer's Agency Agreement.
The state of Utah requires a real estate agent to provide a home buyer with an agency agreement before presenting an offer on behalf of the buyer. I have developed an addendum to the typical agency agreement. If the real estate agent feels comfortable, I can also provide a completely self-contained agency agreement.
Many buyers would be surprised to learn that as soon as they sign an agency agreement, they may be locked in with the real estate agent for six months or longer. Many buyers only sign the agency agreement for the purpose of presenting a single offer. Nonetheless, most agency agreements are not written for the presentation of a single offer, even though that is how they are commonly used. Instead, the typical agency agreement is written for the protection of the real estate agent. Once the agent begins working with a buyer, they may want a commission when the buyer purchases a home, even if they stop using the agent. This can create problems for buyers.
The addendum I have designed for buyers accurately reflects the typical relationship between the buyer and the agent. The buyer and the agent identify the length of the relationship. If the agency is being established solely for the purpose of presenting a single offer, the parties specify that relationship. If the buyer is willing to commit to a long-term relationship with the agent, then the parties specify such a relationship.
The addendum also provides for termination of the agency relationship if the buyer wishes to move on to another agent or make other arrangements for the purchase of a home or property. The addendum is equitable to both parties.
I have extensive experience working with real estate agents. I would be happy to discuss the buying or selling process with you. Please contact me to obtain the agency and listing agreements discussed in this report. I am happy to answer any questions that you may have about the agency and listing agreements or other real estate matters.