REAL ESTATE
by Jim Coleman, REALTOR®
USE YOUR REALTOR® TO BENEFIT IN TODAY'S MARKET
The media is prolific with all sorts of findings, reports, statistics and explanations for what is happening or not happening in the real estate market. Some of what is said is accurate and actually useful to the consumer while much is damaging to the parties in the market place including sellers, buyers, practitioners and other related professionals working in the field. A worthwhile piece of work has been done to tell the story of the local market. This can be viewed on line at www.SouthernUtahHomeFacts.com.
One of the facts, nationally and locally, is that there is a very large inventory of product, both existing dwellings, new and resale, as well as building lots. It is also true that there are jitters in the financing and mortgage markets, but rates are very favorable and loan programs are available for buyers that qualify - qualify along the lines of the more traditional procedure.
The serious buyer/investor, both those new to the market as first timers and the more experienced type, can benefit from today's market if they are knowledgeable and use prudent business-person procedures to their advantage. Statistics and testimonies from consumers bear out that one of the keys to benefiting in this type of market and from the opportunities available is to have a competent REALTOR® as part of the investment team.
All "Agents" have the responsibility as a fiduciary to educate you, the principal (seller and/or buyer), so you'll know the difference between asking prices and fair market value, as an example. Once you learn property values, your agent helps you buy or sell your property as close as possible to its fair market value.
Great agents understand that selling is an education process. They'll completely explain every step of your transaction so you always understand what is happening.
Great agents don't make decisions for you. Instead, they'll advise you regarding your options so you can make correct decisions for yourself. As a matter of fact, unless specific power and authority is granted to the agent, the agent never makes decisions for the principal (the buyer or seller).
Great agents discuss various transaction situations in order for you to know if you should add other professionals to your sales team, such as attorneys, accountants, inspectors, engineers, and others. Experts don't threaten great agents because their concern is serving you well and helping to assure the success and appropriateness of your transaction.
Great agents working in today's market have experience and "know how" to achieve the desired results for the buyer and seller. The buyer or seller would be well-served to counsel closely with the agent and make sure the agent understands the needs and objectives of the investment.
But it is this REALTORS'® strong opinion that given the facts of today's market, buyers can make good buys and enjoy the benefits of the American Dream. At the same time, competent agents work well to protect the position of the seller and the market value of the property being marketed and sold.
St. George REALTOR® Jim Coleman is Associate Broker and Partner/Owner of ERA Brokers Consolidated. He works with Buyers and Sellers and Specializes in Residential, Investment and Commercial Real Estate, including Resort and Second Home properties. He holds National Designations of Accredited Buyers Representative (ABR), Certified Residential Specialist (CRS) and Seniors Real Estate Specialist (SRES). You can contact him by e-mail at Jim@RealtorJimC.com. Call: (435) 674-0600; or write: Jim Coleman, 201 East St. George Boulevard, St. George, Utah 84770. This and other columns are available at www.RealtorJimC.com/articles.