FOCUS ON REAL ESTATE

As a seasoned veteran of this industry, I have witnessed profound changes in the way business was once conducted and the way it’s done today! In the late 1970's, real estate was a much more casual occupation. The average agent may have sold a half dozen homes every year. Most agents worked on a part-time basis; the business was relatively easy. The buyers signed a simple sales contract; they applied for their mortgage, and proceeded to closing.

Today, part-time and marginal sales associates are fast becoming a thing of the past. It takes dedication and full-time commitment to be successful in the long-term in the real estate industry.

Today’s agents must take continuing real estate education every two years for their license renewal, including mandatory classes on legal and fair housing issues. Today’s agents must be computer literate; they are dealing with more sophisticated buyers who are computer-savvy. The use of the print media for home advertising has given way to numerous real estate websites, widely used by today’s homebuyers in their property search.

Most importantly, the complexity of today’s real estate transactions requires full-time professionals to deal with the myriad issues of property defects, environmental concerns, radon, asbestos, and code violations which are inherent in our older housing stock. The best of the best have advanced professional training and licenses, professional designations, and years of hands-on experience to stay on the cutting edge. For more information, or for questions about real estate, call Bette Zrimsek at 412-884-2900 or e-mail bette@southinc.com 

(Bette Zrimsek is a Broker/Owner of RE/MAX South, Inc. and is a Certified Real Estate Brokerage Manager.)

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FOCUS ON REAL ESTATE

BY BETTE ZRIMSEK, CRB, CRS

If you are thinking about selling your home, or other real estate, you are likely to use the services of a licensed real estate broker. The brokerage fee, and the time period of the listing, are both determined as the result of negotiations between the broker and the owner.

A listing agreement is effective for one year, beginning on its date of commencement. However, the owner may also terminate the listing at any time, by giving written notice to the broker after THE NEGOTIATED number of days has elapsed. For example, a 90-day negotiated listing period means that the seller can cancel the listing contract with the broker in 90 days if they so choose.

But wait! If you sign a listing contract with a real estate broker for the full 365 days of one year, you are obligated by the terms of that agreement. This means that even if you become dissatisfied with the broker’s service for any reason, you are bound to the contract for the entire one-year period!

If you decide to cancel your listing for any reason, be sure to make your intentions clear. If your negotiated time period has not elapsed, you may need a written, unconditional release from the broker of record. If not, you may find yourself in a bad situation later. To avoid problems, always negotiate wisely, ask questions, and fully read any contract before you sign it.

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FOCUS ON REAL ESTATE

If you are renting a home, there are some important facts you need to know about renters’ insurance. If you signed a standard lease agreement, it is likely to contain a clause stating that as a tenant, you will carry renters’ insurance.

According to a major national insurance carrier, your personal property would not be covered by your landlord’s insurance in case of fire, theft, or other losses. Replacing your furniture, clothing, stereo, TV, and other personal belongings could be quite costly. The landlord’s insurance would only cover the building itself.

In addition, your landlord does not cover you for personal liability. Personal liability coverage may provide you with legal help if someone holds you responsible for bodily injury or property damage. This type of policy pays, up to the policy limits, what you may be obligated to pay as damages if someone is injured or suffers property damage at your rented home.

Renters’ insurance is not expensive, and can give you the coverage you need for your personal goods and for peace of mind. For more information, or for questions about real estate, call Bette Zrimsek at 412-884-2900 or e-mail bette@southinc.com.

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Focus on Real Estate

On December 20, 2001, Pennsylvania’s new Home Inspection Law went into effect. This law regulates certain aspects of the performance of home inspections in order to increase professionalism throughout the home inspection industry.

Prior to the passage of this law, known as Act 114 of 2000, Pennsylvania had no statutory provisions regulating performance of home inspections, or any required level of professionalism. As a result, consumers and real estate brokers and agents have experienced difficulties working with those who advertise themselves as home inspectors, but lack the training and background to qualify for the job.

Under the new law, a home inspection must be performed by a "full member in good standing of a national home inspection association." This type of association is operated on a not-for-profit basis and not operated as a franchise, and has members in more than 10 states. It requires that membership be limited to those who have performed or participated in more than 100 home inspections and have passed an accredited examination testing knowledge of proper procedures for conducting a home inspection. All members must comply with a code of conduct and attend continuing professional education classes as an ongoing condition of membership.

Even though the new law still does not provide licensing for home inspectors, it is a major step in protecting the home buying public when making this most important purchase.

(Bette Zrimsek is a Broker/Owner of RE/MAX South, Inc., and is a Certified Real Estate Brokerage Manager. Bette can be reached at (412)884-2900 or e-mail  bette@southinc.com. )

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