There is a common perception that the real estate agent has a lot less work to do today, thanks to technology and the Internet. Buyers are able to "shop" online and easily identify properties that nay be good prospects to purchase.

But if you were to ask any real estate agent this question: "now that the Internet allows buyers to find their open houses, isn't job of the real estate agent much easier?" you mighty be surprised at the answer.

Many deals are constantly under assault by any one of a number of issues that seek to interrupt the process. Delays stem from a number of sources, many of which are out of the real estate agent's control, but require action on behalf of the agent to resolve.

Any one of a combination of these items can lead to trouble in a transaction:

1. Title issues. With all of the foreclosures and short-sales, getting clear title can take a lot moiré effort, and there may be delays. The most common severe delay on a foreclosure sale is a Federal tax lien, which is not extinguished by the legal proceeding. This can take up to 120 days to resolve.
2. Appraisal issues. Lenders are more cautious than ever regarding the validity of appraisals. While most buyers want to see an appraisal much higher than the contract sales price, some lenders see an abnormally high appraisal as a red flag and may ask for a second opinion, causing delays.
3. Documentation variances. The loan officer may have sent a complete application, but at the last minute an underwriter may ask for additional documentation before issuing a "clear to close."  Sometimes these documents can take some time to produce, leading to delays in the delivery of the loan funds.
4. Audits. Many lenders are performing audits on the day of closing, including verification of employment, verification of funds,  and may pull a new credit report. Explanations may be needed to complete the closing of the sale.
5. Logistics. The fact is, that houses are taking longer to sell, and many sellers have already moved and there may be delays in getting everyone to perform in a timely matter. You would think that everyone would try to get on the same page to expedite completion of the sale but sometimes it's difficult to get everyone working together!
6. Property issues. The longer that it takes to close, the more likely that the property will develop a problem that affects the buyer's desire to purchase. Air conditioners may stop working or someone might break into the house and steal fixtures and appliances. These issues can always cause serious delays.

The good news is this: The real estate agent works diligently to intercept all of these problems and spends hours or days "putting out fires" to move the transaction along to completion. The goal is to make the closing as seamless as possible for both the buyer and the seller.

It takes a lot of work to get the job done correctly, more than you can ever imagine. And despite all of the technology, the job is more difficult now than ever. And when your deal goes smoothly, take the time to pat your agent on the back.

They have done one heck of a job!

All content, including text, original art, photographs and images, is the exclusive property of Coweta Fayette Real Estate, Inc., and may not be used without the expressed written permission of ERA United Realty and Coweta Fayette Real Estate of ERA United Realty Newnan Georgia. All information is believed to be accurate but is not warranted, Copyright 2003-2009. Richard Weisser 770-827-6225.
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