Functionary vs Fiduciary

There is so much information on real estate available on the internet that it's important to identify whether you're hiring a functionary or fiduciary to represent you.
As a buyer, you can search for homes on the web, check neighborhoods and schools, map out the distance to work or the beach - so you don't want to pay top dollar to someone who is just sending you this information, or showing you house after house that you find, without giving you any input. The agent's value is as a fiduciary - as your interpreter, counsellor, and advocate. With information overload you need someone to sift through it for you, determine what meets your needs, explain the local processes to you, and be your negotiator. Once you have a contract you need someone who will help you find the best inspector and handle those negotiations, to be sure the financing process is progressing timely, and to look out for you. Is an agent representing you or the transaction - or neither of these?
As a seller, you, too, can easily find out the sale price on homes in your neighborhood, can put a sign in your yard, make some flyers and post your home on a website. A functionary can do this. A fiduciary will advise you on where (and why) your home fits among the sales, what the trends are, who the target buyer is and how to reach them. You'll want advice on pricing strategies, staging your home, and market timing. For negotiating and successfully getting from contract to closing, you want someone with experience, who's been through good markets and bad, and who can control the issues that come up along the way. Do you want an advocate or an order taker?
When you choose an agent, keep in mind - are you hiring a functionary or a fiduciary? For more information visit our website at www.ssimms.com or call The Simms Team, RE/MAX Metro, at 727-896-1800.