As Realtors, part of our responsibility, is to serve as a “coach” for both buyer’s and seller’s……as to “what’s what”! In more detail, this means instruction regarding, the buying/selling process, legal necessities, market conditions, as well as, negotiating strategies.
It is important for us as realtors to accept the following, many buyers and sellers today, perceive themselves to be “well qualified” in many aspects of the real estate process. The availability of the internet, has allowed the individual to “educate” himself, to a point where he perceives himself to be qualified in knowledge and skills as it relates to negotiating the sale or purchase of real estate. This perception, held by a buyer or seller, can often undermine the efforts of a realtor. For many of us, we assume as realtor’s, that buyers and sellers comprehend without a doubt, the information, suggestions and procedures we explain….often with great detail? Unfortunately, much of the time, this is not to be the case.
Within my area of expertise, (waterfront property sales) there are many important factors which must be considered prior to finalizing a sale. For clarity, here are just a few of the items needing attention, A: Location of the 525′ flood elevation lines, (survey map or marked flags). B: Water depth at the shoreline, (full pool versus winter pool). C: Side property line intersect point, (location at where side boundary lines would cross each other if extended out into the water). D: Is the property located in a slough or cove area (boat dock cannot extend more than half way across the shoreline to shoreline distance)? E. Last, if not the most important, with the criteria mentioned above, will the custodian of the lake, (Department of the Interior) or it’s designated representative, (in this case, Alabama Power) issue a dock permit?
As you can see from the information I have shared above, unless one is somehow intricately involved with the process, they would, in no way, possess the answers to the many factors which need to be considered before signing off on an offer to purchase contract.
How does one proceed with selecting a realtor to represent their interests? Start by looking at their qualifications. Does the individual possess particular skills which you deem necessary to represent your interests? What is his or her “track record” (inquire as to the number of annual transactions/amount of production generated over the past few years)? Does the realtor possess industry proficiency awards or designations? Ask a realtor, “What individual capabilities or attributes do you possess which will assist me with my purchase or sale of a piece of lake property?” It’s important that you find a realtor who you feel comfortable with, can trust and follows through during the entire process. Purchasing or selling lake property today, has become an “extended process”. Better to have someone represent you who has “been there and done that”!