5/3/2021 0 Comments What Is A Broker Check?Real Estate Service means acquiring, developing, possessing, managing, holding, protecting, assuming, keeping, relating to and enjoying all such other rights and duties in connection with the Real Estate Assets in each case as may be required by virtue of the Agreement (including, without limitation, the obligations and responsibilities of Seller as well as Buyer), in each instance in accordance with the conditions of this Agreement (subject to the exclusions set out in the Paragraph below). The term Real Estate Service is generally used in California and in many other jurisdictions as a synonym for "brokerage service." Although the foregoing explanation has been provided in regard to the broadest consideration of Real Estate Service, it should be understood that such broad categories are not intended to be used in a limited scope. In the context of Real Estate Service, one may speak of Property Management, Real Estate Management or even Real Estate Franchising Service. It should also be noted that "Franchising" refers to the systematic hiring or contracting of one or more persons to undertake an enterprise for the benefit of all involved thereby forming a Franchise. Most people believe that the term Real Estate Service implies that the brokerage relationship between the buyer and the seller is a contractual relationship that is considered to be the essence of the transaction. This mistaken belief is likely to result in confusion among individuals, most notably amongst those who are unfamiliar with the nature of the real estate market or those who have been involved in Real Estate transactions before. While it is true that one can engage the services of a brokerage firm to perform the role of "realtor" for their individual Real Estate Property, brokerage firms do not actually perform all or even most of the Real Estate Service functions. One important aspect of the Valley Center real estate service function is the analysis of comparable properties. Comparable properties are those Real Estate Properties that have sold within a specified time and that have achieved a fair market price. The idea behind comparable properties is that the true value of a Real Estate Property is independent of the initial sale price. By analyzing similar properties that have recently sold within a defined time frame, the real estate agent will be better able to determine an accurate average or "comparison" price for their client to use as the basis for their Broker Price Opinion. The majority of full-service brokerages provide Broker Check applications to their clients, which enable them to compare similar properties from various locales using the most recent comparable property data available. In addition to comparing like properties, these Broker Check applications also allow brokers to select specific criteria such as property square footage, number of bedrooms and bathrooms, and lot areas to better evaluate a property. Another important aspect of the Broker Check is the fact that all of the information provided must be completely correct. All data provided must be accurate and complete. The full-service South Park San Diego real estate brokerage is required to meet these strict standards in order to remain on the market. The Broker Check provides local, regional, and national comparables so that clients can more accurately determine if a property is under-priced, over-priced, suitable for their needs, or if they are paying too much for a particular type of property in their neighborhood. A full-service broker price opinion, which may take several hours, is typically based on several factors, including: current market conditions, neighborhood conditions, competing properties in the same area, and prevailing trends in the specific area where the real estate services' agent is acting. In short, these reports are not meant to be relied upon as an instant, but rather periodic, snapshot of current property values. Because of this, Broker Check applications may not always reflect true market conditions. This is especially true of the more expensive properties that tend to sell more quickly than other properties. There are many other factors that could impact the selling price of a home, and there is no "one size fits all" approach to housing economics. However, the vast majority of consumers who purchase homes have little interest in obtaining Broker Check applications to determine the selling price of their new home. The few consumers who do use these applications to determine a fair market price usually do so after purchasing at the last minute, when market conditions have already begun to shift and they have little time to research similar properties. For better understanding of this topic, please click here: https://en.wikipedia.org/wiki/Real_estate_broker.
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