The Importance of Transparency
Brian DuBois, Broker/Owner/Partner, DuBois Realty Group
Very recently, a significant ruling in a court case involving the real estate industry occurred. In several areas of the country, Buyers and Sellers were not aware of who was getting paid what and by whom until they became aware of it at the closing table. Surprises are not suitable for any purchase, especially one so significant as real estate. At the core of this case was a lack of transparency.
Fortunately, the Maine Real Estate Commission demands transparency through all of its required documentation, so the changes in the real estate industry are less drastic for us here in Maine.
Yet transparency should not be exclusive to commissions only; rather part of the entire real estate transaction. Here are some helpful tips for you to look for throughout the process:
1. Commission – it must be understood that this is a NEGOTIABLE item. Both Buyer and Seller should know WHO is getting paid WHAT, by WHOM, WHEN, and HOW. Recent changes to orchestrating this are important for the client to know and understand.
2. Consultation – for the Broker to be at his/her best, it starts with a good initial consultation. “Seek to understand before being understood” applies here. Once the client’s goals, hopes, and dreams are communicated, the Broker can help set an agreeable course of action.
3. Negotiation – the client and the Broker should be in lockstep in this effort. The real estate professional should not be negotiating on behalf of the client without regular communication and support for various options over other creative alternatives. Clear explanations of options and their advantages/disadvantages are essential to transparency.
4. Communication – frequent communication regarding the next steps is critical in maintaining transparency. Real estate transactions are not common occurrences for most, so knowing what to anticipate next through the coaching of a real estate professional is paramount.
A respected real estate professional is prepared with market data, the appropriate and required forms, experience to guide through challenges that may surface, and a commitment to transparency through quality coaching and communication.
ABOUT THE PRO
Brian dubois, born and raised in Auburn, educated at Bentley University, and later employed as the Executive Director of the Auburn-Lewiston YMCA, Brian has in-depth knowledge of the greater Lewiston / Auburn area, the professional skill set of a community leader, and the interpersonal skills to facilitate smooth real estate transactions. Brian not only has genuine interest in the real estate market, but his desire to serve is a good fit for this industry—connecting families with a new home, guiding sellers through a thorough process, and providing investors with new opportunities.
Together with his wife and business partner, Marnie, they reside in Auburn where they are raising three children and two dogs.
Brian welcomes your inquiries regarding this subject matter, content suggestions, or questions regarding all things real estate.
O: 207.344.3230
M: 207.333.9019
