Real estate transactions carry inherent fiduciary responsibility. Are buyers and sellers getting enough value for the money spent? One agent feels they deserve more.
Wow, I was astounded to learn after surveying recent homeowners how little actual service they received from their real estate agents, especially when compared to the commission they paid.
Could integration of the real estate and mortgage industries result in a more efficient and less costly transaction for the average person engaged in a real estate deal? Think about this for a moment.
Licensed real estate agents know their clients better than anyone, so why aren't they more involved in securing the mortgage? Real estate agents have a fiduciary responsibility to their clients. Shouldn't agents go that extra mile? Everyone knows that agents are paid good commissions when closing a residential transaction. Assisting the client secure a mortgage would help answer the question in the client's mind, 'whose side is he on?'
In today's real estate market, a client becomes entangled in the endless paper processes involved in a mortgage application and may be required to complete an application on numerous occasions. If real estate agents were also mortgage loan originators, the information obtained by the agent could be used to process a home loan application. In addition to saving time and effort, people could save thousands of dollars in commissions and closing costs.
Now, I will be the first to admit that this will make the average real estate person work harder, but wouldn't clients appreciate our sacrifice? In addition, since two sources of income would now be available agents would be in the enviable position of being able to lower their real estate fees (clients would love this) while simultaneously generating more total commissions for that particular sale.
Many individuals engaged in real estate endeavors prefer a centralized process so their time can be spent on other issues important to them. Why should they be sent from one facility to another to complete one transaction?
Let's step up to the plate and show our clients that we are really going to bat for them.
Readers wishing more specific information can visit http://www.HomeLinkDepot.com for free mortgage and real estate reports. If you would like me to speak with you personally simply log on to this website and send an email with your contact information. We work primarily in the northeast Atlanta , Georgia area.
» left by cc from nyc (1 year 149 days ago.)
This is a conflict of interest and should always be questioned. No, agents and banks should stay separate entities.
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Article added to SearchWarp.com on 12/5/2006 7:09:12 PM. View other articles written byH. M. 'Mo' Sanford, III(7)
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