Coastal Real Estate and Lifestyles

Develop a working relationship with your Realtor.  I know some of you are thinking…I’ll contact a Realtor “when I’m ready to BUY”, not before, heaven forbid.  Here’s the reality. . . a Realtor will guide you through the contract and escrow when you’ve identified a property; a Realtor can also help you narrow down an area, neighborhood, and the right property for you.

Sites that offer community information offer lots of value to those who are trying to narrow down where to focus their search.   Keep in mind that you will only be getting a fraction of what that community is all about.  Most of the public search sites miss the local flavor - the heart of a community or neighborhood.  That’s not the purpose of them anyway.  So if online searching is the first step, driving the area is a good second step.  When you’re ready to delve into a community or begin looking at properties within that community, that is the best time to talk to a Realtor.  Many prospective buyers attend open houses, check websites and reviews, and ask their friends/neighbors for referrals.

Whether you’re relocating to a new community or moving down the street, how do you begin a relationship with a Realtor?  You send an email or pick up the phone.  So now you’re thinking “what if I don’t like that Realtor?” (for whatever reason).  Any professional relationship is based on integrity and trust.   The only way to gain trust and learn about their style is to get to know that person.  Check their website and online presence (our industry is getting transparent like everything else) and talk with them.  It is our job to LISTEN and GUIDE and help you reach your real estate goal, so open communication is best.

Two documents to be aware of with this next step:

Disclosure of Agency Relationships:  It states that the Realtor (in front of you) agrees to do their “fiduciary duty” in the type of transaction you’re discussing (e.g. buyer or seller).  It’s an important clarification if you stop to think about it.  When you’re being shown a property, don’t you want to know who the Agent is representing?  According to California Association of Realtors’ Agency Laws Summary Sheet, a Selling (Buyer) Agent must disclosure agency relationships by providing the appropriate Agency Disclosure form and asking for a signed receipt “ASAP Before Buyer Executes Offer (i.e., After More Than A Casual, Transitory, Or Preliminary Inquiry)”.

Buyer Broker Agreement:  A buyer is free to use any Realtor unless there is a signed agreement; however, many buyer/agent relationships are based on mutual respect without use of a signed agreement.  If you are asked to sign an Agreement, it will be the Buyer Broker Agreement.  There are different reasons that a Realtor may ask you to sign this document.  Discuss this in detail with your Realtor if you are asked to sign this.

 C.A.R. Q & A about Buyer Brokerage and Agency.