The duty to represent the interests of the principal makes it very tricky for the conscientious agent to represent both buyer and seller because the purchaser wants to get the property for the cheapest cost possible and the seller is searching for the best amount of cash he can get for his or her property. Almost anyone will agree; there’s a conflict of interest when anybody attempts to fairly represent both sides of a trade. However much we Want or need the money which will come from a complete commission, better to call in a colleague to represent one side or another. That way both share in the commission, both attorneys are frankly and fairly served and the broker will have customers who will recommend their services to other friends and acquaintances.
It ends up being Win-win for everybody!
To reinforce the Relationship with seller or buyer clients it is important to comprehend and discuss this with the customer; outline the duties of the buyer’s agent, the duties of the seller’s agent and how to take care of the critical issues like money where cost is being negotiated. A confirmation of the connection ought to be signed with the seller or buyer client.
Not only does this confirm the essentials of the fiduciary relationship, but also the customers, understanding that a broker is working exclusively for them, rather than the other hand, will be more likely to stay loyal to his broker. To put it simply, the seller’s agent has the duty to advise his seller as to reasonable and fair selling price, concerning the value of disclosure of defects in the house, and to provide the property to the broadest audience possible. The objective of this, of course, is to get the maximum price possible for your property.
The buyer’s agent should assist the customer in locating the very best property potential that will meet buyer’s requirements hong kong real estate rental. Once found, the house should be scrutinized as to suitability for the purpose intended and the most appealing price and terms possible negotiated for the acquisition of their property. Education is a good beginning. We have to be like a sieve; absorbing everything on property, on legislation, on building, on land usage. It is always recommended to have a greater knowledge and understanding than is required for any particular case.
Experience picked up in a trade is valuable, not only for the present luxury property hong kong sale, but for the long run; it has to be saved in the memory card to another transaction; or ten trades down the road. For your new agent who May lack practical experience, it is sensible to never lie or guess that the reply to a customer’s question. It is perfectly all right to admit you do not understand and add you will find out .and then do it What you learn from the investigation is invaluable information for your experience bank, for the next time the same or a similar subject comes up! .