Find an agent who is proactive. He or she should make a schedule for you of the things that have to happen and when they have to happen. He or she should also have a list of all the relevant parties and work with them while the deal is being negotiated.
Many inexperienced or poor agents don't take control of their deals. They get a buyer, find a house, make an offer, and if it's accepted assume their job's done and let the deal go forward as though it's some kind of wind-up toy, then feel victimized when the deal goes through because they didn't do their job. If you catch one like that, throw them back.
There can be various levels of complexity to a real estate transaction. I've lumped them into three levels for discussion sake. It's much more complicated than even this. But, consider these:
Level 1: When there are 3 parties: a buyer, a seller, and a settlement entity (title company, real estate attorney employee). A buyer sees a property, identifies the owner, makes an offer, the offer accepts it, and it goes to settlement which is done by a third party. There are no real estate agents involved, though one of the parties may have sought the advice of a friend or associate or a realtor may have recommended a settlement entity.
Level 2: When there are 5 or 6 parties involved. In addition to buyers and sellers, we have an agent or lawyer for each, a title officer, and maybe a mortgage Representative if a mortgage is required, which it usually is. Some places lawyers play more of a role or are required. It works differently in different places.
Level 3: When there are more than 6 parties involved, they could be title insurance agents, inspectors, appraisers, insurance agents, lawyers, contractors, roofers, brokers, and so on and so on. More than 6 people.
No matter what the level of complexity of the deal, the agent has to identify the relevant parties and the tasks to be done and make sure that it happens.
You can't assume that a deal won't go bad if your agent does everything he or she can. Real estate transactions are very complicated, and deals can fall through for any number of reasons. But he odds of a deal going away at settlement are greatly reduced if your agent stays on top of everything.
I'm trying to create a more informed real estate customer. Is this working?
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