Denver Real Estate Broker Duties, Home Purchase
What is the job of a real estate broker and what makes a good broker? These are two very good questions if you are considering hiring a real estate professional to help with the purchase of real estate.
There are four categories of skills that need to be managed by a competent real estate broker. These categories include; Guidance, Responsive, Accounting and Loyalty.
Guidance is an important attribute to a smooth and successful real estate transaction. Some of the areas of broker guidance center around the following:
- Frame the property search around what’s most important to you
- Recommend lenders for pre-approval that help determine an affordable price, strengthen your offer and lead to a faster closing
- Search the MLS and network with other brokers daily to find new properties that match your criteria
- Preview properties, schedule and accompany you to showings
- Analyze comparable property values and advise you on current market conditions
- Structure and prepare your offer, review disclosures and laws and deliver the contract
- Negotiate skillfully on your behalf and promote clear and frequent communication among all parties
- Review title commitment, recommend home inspectors, facilitate lender approval, insurance coverage, and recommend attorneys or tax professionals as needed
- Accompany you on final walk-through
Responsiveness is the next area of management and includes:
- Acting in good faith at all times
- Adhering to your instructions
- Returning all calls and emails promptly, keeping you informed
- Closely tracking dates and deadlines
Accounting for money and information is extremely important.
- Receive, deliver and monitor all earnest money deposits
- Receive and deliver all documents in a timely manner
- Review final settlement statements to ensure accuracy
Loyalty is the final attribute of a competent real estate professional.
- Place your interests above all others
- Keep your personal information strictly confidential
- Ensure that all parties to the transaction are fully informed about any material facts that may affect the transaction
Your real estate broker has a fiduciary responsibility to you at all times and should service your specific real estate needs with good faith and professionalism at all times.