The other night I posted a question about selling a home on our own. My husband and I are trying it right now. But if we don't have any luck we're going to go with a real estate agent after the holidays.
I want to go with Foxtons. Not only for the lower commission, I really like the way they present homes on their website, compared to other companies.
But here's my problem ... my husband's nephew just go his real estate license. He doesn't work for Foxtons and he wants to sell our house when the time comes.
I don't want to use him though because I don't want him to know our personal and financial business.
So that's my question ... what information is the agent able to access about the sellers?
Thanks in advance -
2006-11-01 16:32:42 · 6 answers · asked by tgfann 3 in Business & Finance ➔ Renting & Real Estate
My mom is a real estate agent, so I know a bit about this and hope I can help you out here.
From what I've been able to observe with my mom, she knows A LOT (TONS!) about her clients' personal and financial business. It just comes with the territory, as the real estate agent is involved with selling their client's largest asset and often has to help with the mortgage financing and the escrow/title process.
If your husband's nephew just got his license, I think there's better reasons than financial privacy for not using him ... namely, you don't want someone who is that new and that green to be helping you with such a major financial transaction.
If you don't want to tell him you're not using him because you don't want him to know your financial business, you can just tell him that you want to go with someone more experienced for this major transaction of yours.
Good luck!
2006-11-01 16:37:43 · answer #1 · answered by I ♥ AUG 6 · 1⤊ 0⤋
Your husband's nephew could always team up with the most experienced agent in his office. The only information he will know is how much money you will net from the sale. That will come to him from the seller's closing statement. As far as other information, it depends how far YOU are willing to go about telling him about your finances. Honestly, I think you would make your husband's nephew proud and happy by giving him a deal. If you can save $5000.00 on the commission, but your nephew could get you $7500.00 more than the other company...Are you really saving anything? Besides, most of the buyers come from other agents that see your house in the MLS, not a fancy website.
2006-11-01 17:43:18 · answer #2 · answered by Anonymous · 0⤊ 0⤋
One can regularly seek advice a attorney, however traditionally that's now not a average contingency clause for a vendor, considering as recounted it is a patrons marketplace no patrons might conform to such, then you will have the obstacle you had a attorney , A truly property agent isn't a attorney, are not able to provide authorized recommendation at the legalities of the sale agreement that’s a legal professionals function within the location So even as legally you'll relatively location nearly any contingency clause for your income agreement, this must be drafted via a attorney, if you happen to desired distinctive clauses, the truly property agent on the whole used a usual agreement which might now not have integrated the contingency clause considering its now not usual method in promoting a house
2016-09-01 05:54:45 · answer #3 · answered by ? 4 · 0⤊ 0⤋
As long as your home is not at risk of foreclosure, all he'll find out is how much you owe on this house and how much you pocket at closing.
If he helps you buy your next one, he will know whatever you tell him or tell the loan officer to tell him.
To write the offer, the loan officer will have to disclose what price range is ok (you can simply tell him "We qualify for x dollars, but want to stay under y dollars.") and what interest rate to put into the contract (if your state's contracts include interest rate). From the interest rate, he may be able to get a range of how your credit is.
By the way - Don't avoid him simply because he's inexperienced. Let him know you expect him to bounce stuff off his broker - to many newbies make the mistake of trying to act like they know it all..... that can really get them in trouble. His broker or a senior agent in the office can help him do a good job for you.
2006-11-01 16:43:41 · answer #4 · answered by teran_realtor 7 · 0⤊ 0⤋
Skip the family. Hire a local professional. Visit your local supermarket and pick up one of the free real estate magazines there. Then contact 3 to interview. Good luck.
2006-11-01 17:25:40 · answer #5 · answered by ? 3 · 0⤊ 0⤋
He would be able to pull tax records to see how much you originally paid for your house and of course know how much you are going to net on the day the propety closes.
2006-11-01 16:43:53 · answer #6 · answered by zab 1 · 0⤊ 0⤋