Real World Graduation, Question 76: Realtors

RealWorldGraduation_Question_76_Realtors  <– PDF

When buying a house, many people use the services of realtors, who are licensed specialists in handling real-estate transactions. Usually they operate in “territories”, and acquire an extensive knowledge of the neighborhoods and school systems.  Normally they will assist the buyers in helping them get around, and “showing” the houses for sale. Their fee for this service is normally 7% of the selling price of the house, which is paid by the seller out of the proceeds of the sale.  What are the benefits of using a realtor if you are buying a house?

a) The realtor provides protection for the buyer against unscrupulous sellers, since they work directly with and therefore, have a vested interest in satisfying the buyer.

b) The services rendered by the realtor are paid by the seller, so whatever the realtor does is ultimately free to the buyer.

c) The realtor can provide legal advice on the complexities of real-estate law and regulations governing these transactions.

d) Since the realtors are licensed, the buyer can be confident that every property listed for sale is listed accurately with regard to age, conditions, known defects, and any existing liens against the property.

e) All of the above.

(The answer is on p. 2 of the PDF.)


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