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July 2018

Who Represents Who?

Who Represents Who?

This month I want to take the opportunity to address some growing concerns in the real estate industry in regard to instant offers and new homes. While I am an enthusiastic fan of unique and new ideas as well as new homes, I am also an even bigger fan of what we do as professional, licensed REALTORS®. But unfortunately, some of these changes in our industry could be putting my clients in harms way.

First, let’s review what the real estate law says about an agent’s responsibility in representing a client:

A REALTOR® has the fiduciary duties of loyalty, obedience, disclosure, confidentially, and accounting whether representing a buyer, seller or both parties in a real estate transaction. Furthermore, a real estate agent is required to exercise reasonable skill and care in the performance of their duties, and to be truthful and honest to all parties. They are required to disclose all known facts which are material or may adversely affect the consideration to be paid for the property.

When a homeowner visits a website such as OfferPad, Opendoor or Zillow it is important to know that those sites do not represent you as a client. And while the idea of an “instant offer” might sound appealing, there are risks involved, as well as an exorbitant amount of fees that will come out of your hard earned equity. Most importantly, those companies do not have your best interest in mind. They do not owe you the fiduciary duties that a licensed REALTOR® is bound to by law and a code of ethics.

When an excited home buyer decides to “go look” at a new home, the moment they enter the models they have surrendered their right to professional representation. The new home sales person, and builder do not represent you as the buyer, nor do they have your best interest in mind. They are there to sell a product, which they profit from.

Our market is heating up and just in time for the summer selling season. Before you visit those sites for an instant offer, please call me. Chances are, I can help you make more money, in a convenient amount of time while making sure that your interests are protected. If you are interested in learning more about the new home opportunities cropping up around the Valley of the Sun, please call me. It is our job to help you find the perfect place to call home, and it is our pleasure to accompany you to view model homes, and ensure that your interests are represented at all times in the real estate transaction.

We look forward to hearing from you soon!

Your real estate consultant for life, Nate

To read a copy of the June 2018 Newsletter, click here

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Nate Martinez
RE/MAX Professionals
20241 North 67th Avenue, Suite A1
Glendale AZ 85308
Fax: 602-532-7352

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