With so many homes for sale in Columbia South Carolina, it is driving the inventory up, resulting in homes staying on the market much longer. In many cases, the homeowner cannot afford to leave a property vacant and pay two mortgage payments. When homes stay on the market for extended periods of time, homeowners are asking their agent to find a tenant to rent the property.
I think it is important to understand what the real estate agent has been hired to do. Initially, the homeowner wants the property sold, so we have the homeowner sign a listing agreement to market and sell the property. All the legal verbiage needed to market and represent the seller in the sale of their home is included in the listing contract to protect the parties involved.
If the property has not sold within a period of time, many homeowners are asking their agent to help find a tenant to rent the property to offset the expenses of making two mortgage payments. As an agent myself, I know and understand the desire to help our clients in any manner legally allowed. While finding a tenant for your homeowner is not a problem per say, it is outside of our scope of authority as outlined in the listing agreement. Agents would be wise to consult with legal counsel, such as Andy Aun with Aun and McKay Law Firm, to determine ways to manage the additional risk taken on by agents hired to sell a property and later become an agent finding a tenant for the property.
Andy Aun will be discussing this very issue in his monthly “Out Of The Box Marketing” on March 31st, 2011 at Lake Carolina. This seminar is FREE to anyone interested in attending and includes Food and Drinks. If you would like to attend, all you need to do is RSVP by email at angela@aunmckaylaw.com or call Angela at 803-744-0824.
March 1st, 2011
Many economists are predicting 2011 will be the year real estate values will bottom out. What a huge relief for South Carolina home owners as well for those that are seeking to purchase a home. As consumer confidence begins to rise, so will the number of real estate transactions in the South Carolina Real Estate Industry.
Home values are as low as they have been in decades. Potential South Carolina Home Buyers have been sitting on the fence waiting for prices to hit the bottom before they make the decision to invest. Low home prices as well as historically low interest rates are causing buyers to consider making their move this year. The nation’s number one internet site for home searches, REALTOR.com, is showing a 10% increase in new home buyer searches as compared to this same time last year.
Many Real Estate Agents all over the midlands of South Carolina are reporting a significant increase in business. If this increase in business so early in the year is indicative of what is to come during the Spring and Summer, 2011 promises to be a great year to begin a new career in Real Estate.
With South Carolina unemployment rates still very high, Real Estate may be the answer for you. This is your opportunity to have your own career, set your own hours, be your own boss and become a Successful Business Owner. The Real Estate School for Success can help you achieve you dreams and financial security for your family. We offer license classes during the weekday, weekend or week nights to make getting your South Carolina Real Estate License as convenient as possible. Check out our website at www.RealEstateSchoolforSuccess.com, for additional information about class schedules and times.
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