Fiduciary Duties of a Real Estate Agency

Heroes Home Advantage agents perform many duties during the buying and selling process. Fiduciary duties include obedience, loyalty, disclosure, confidentiality and reasonable care.

A skilled agent can help a client buy and sell homes at the same time, using the home sale proceeds as a down payment on a new property. They also prepare all sale paperwork and ensure legal compliance.

Selling Your Home

Whether you are moving into a new home or selling the one you've been living in, the process will likely take months. It's a complex and emotional time, particularly if your current house is full of memories.

A good real estate agent will help you set a reasonable price for your property, which is critical for a quick sale. They can also recommend presale prep steps that may improve your chances of selling, such as taking care of any issues that might turn up during a home inspection or decluttering and staging.

Once you've found an agent, they will typically ask for a listing agreement, which gives them the legal authority to market your property and sell it on your behalf. Depending on the agency type you choose (exclusive or non-exclusive), you'll either pay the listing agent commission only when your house sells or a flat fee per transaction, which includes a buyer's agent's commission.

Buying a Home

A real estate agent can guide homebuyers through the buying process and provide valuable insights about local schools, neighborhoods and property values. In addition, they can help buyers connect with mortgage lenders and negotiate the terms of a purchase agreement.

A good real estate agent will also know when it’s time to compromise, as negotiating can be one of the most stressful aspects of the homebuying process. They’ll help you stay within your budget while also making sure that a property is a good fit for you.

Most states require real estate agents to be licensed, and it’s a good idea to verify that an agent is licensed in your state before you work with them. You can usually find this information by searching an agent’s name on your state’s licensing board website. Some agents are listed as both listing and buyer’s agents, but this practice must be disclosed to all parties to avoid a conflict of interest.

Reputation Management

Whether you are a real estate agency or an individual agent, a good reputation is essential in the home buying/selling industry. A solid reputation management program benefits agents by monitoring and replying to all published consumer reviews on their profiles and listings, handling negative feedback, and showcasing 5-star ratings and reviews.

A good online reputation is essential for a Realtor to attract new clients and build their business. Today’s consumers are highly dependent on agents to help them make one of the biggest decisions in their life – buying a home. This high dependency coupled with the fact that most buyers conduct research online, means that your online presence is crucial to your success as a real estate agent.

This can be a lot to keep track of on your own, but there are tools available that make managing your online reputation easy and effective. A tool like myOnlineReputationManager can help you monitor your online review sites and capture any negative feedback before it goes live, giving you the chance to turn the client around into a raving fan.

Marketing

Successful Heroes Home Advantage real estate agency requires a variety of marketing tools to generate new leads and nurture existing ones. Websites, social media channels, billboards and fliers are all viable options for promoting properties to buyers.

Differentiating yourself from the competition by creating real estate explainer videos can help attract and engage potential clients. Don’t be afraid to get creative with these. Dress in a black turtleneck and pretend to be Steve Jobs (rest in peace) or take a page from Arrested Development and mock those awful 1-800 lawyer commercials.

Stay in touch with past homebuyers to build trust and stay top of mind. Send them anniversary or holiday cards and offer referral incentives to encourage them to recommend you to friends looking to buy or sell property. Conducting a webinar can also be an effective way to host educational content that aligns with your industry and helps potential clients make informed decisions. Ask webinar attendees to provide their contact information as opt-ins and follow up with them afterward.