Anyone who is dealing with the housing market in New Jersey probably knows how difficult it can be to successfully complete a home sale or home purchase. The reality is that there are always going “tricks of the trade” when it comes to buying or selling a home because NJ real state laws include a number of nuances.
One of the most important things you can do when buying, or selling, a home is to make sure that you have knowledgeable experts on your side. Typically, a person looking to sell a house will start by contacting a real estate agent. Similarly, an individual who may be in the market to purchase a house will often begin the home buying process by speaking with a real estate agent.
Many times, the real estate agent is referred by a friend or family member. In fact, these sorts of referrals are the most common way that individuals in the real estate market come into contact with real estate agents. Moreover, this is true for both first-time home buyers and sellers and people who already have a bit of experience with real estate transactions, according to surveys conducted by the National Association of Realtors.
One thing that home buyers and sellers often neglect to do in their search for a real estate agent is conducting background research on the reputation of the realty firm backing the agent. This kind of oversight can be costly down the road because real estate agents often change firms. According to a recent survey by the National Association of Realtors, 30 percent of real estate agents have been with their current firm for less than a year. This high rate of turnover means that even if a particular real estate agent has been recommended to you by a trusted friend or family member who used the agent in the past, the ability of the agent to get the job done for you now may be vastly different, particularly if they have fewer resources behind them with their new firm.
The best way to ensure that your home sale or purchase goes smoothly is to speak with a knowledgeable real estate lawyer who can help you better understand the legal aspects of the market and the abilities of the firm or brokerage backing your prospective real estate agent.
For additional information about how to handle a real estate transaction, view the Examiner article, “Firm Advice: Consider Both Agent and Brokerage.”
If you are buying or selling a home in New Jersey, Joel R. Spivack, Esq. is an experienced real estate attorney who can help you get the best deal possible and avoid pitfalls that plague home buyers and sellers throughout the process. Contact Mr. Spivack today to schedule a free consultation and discuss your options.