What Real Estate Agent's Don't Want You To Know About Signing Contracts

Buying or selling a home is the single largest investment of a lifetime for most people. It is a BIG business deal composed or people, emotions, contracts and cash and those are all the ingredients for legal and financial pain if you don’t know what you are doing and most people don’t.

Real estate agents are trained in real estate principals, practices, law and some finance before they get their license to sell real estate. As licensed salespeople they have access to inside information you don’t have whether you are a home buyer or seller. And, their training gives them a strategic advantage over you.

For example, have you been to school to learn real estate principals and practices? How much do you know about real estate law? How much do you know about mortgage financing? Who is representing your best legal and financial interests?

The truth is that you will be representing your own best interests and that puts you on an unleveled playing field when dealing with commissioned real estate sales agents. So before you run out and sign contracts and get involved in a financial transaction you may not fully understand, you should have access to a source of information that shows you how to protect your basic legal and financial interests, right?

Agents aren’t going to give you information that will show you how to be on a level playing field with them because whoever has the knowledge, rules. They are not going show you how to take control of the home buying and selling process so that you can represent yourself in a more professional manner. They want to get listing contracts and make sales to get commissions! They want you to do a deal with blinders on.

Take contract law, for example. Agents like to get home buyers and sellers to sign on the dotted line because it locks people up on a contract to perform. Do you think they are going to show you how to write a contract you can get out of if it’s not be in your best economic interest?

A SMART WAY TO SIGN A CONTRACT

Whether you are buying or selling a home you can put these 5-magic words right above your signature before you sign the dotted line: "subject to buyer’s (or seller’s) attorney’s approval". Then, sign the purchase (or listing) contract. In this way, you can get out of the deal if you have second thoughts and/or your attorney does not approve of the contract within a reasonable period of time (24-48 hours). Real estate agents call this a "weasel clause" because it allows people, like you; to weasel out of a deal after you cool down or realize you made a mistake in judgement. Trust me, agents don’t want you to know this kind of information.

This is just one powerful tip from our premiere real estate e-book that we are giving away free this month. If you are interested in learning how to get your copy, you can get more information on our home page.

Thanks for reading!

Copyright © 2006 James W. Hart, IV All Rights reserved.