Thank you for considering me to represent you. Whether you are a firsttime home buyer or a seasoned veteran, purchasing a new home can be a challenging experience. As your real estate agent, I pledge to provide you with expert guidance and professional service. I am committed to protecting your interests with integrity and care.
This Package
Today’s Agenda
Cecelia & Chuck Curtis
Confidentiality
The Buying Process
Prequalification and Lending Process
Search and Selection
Home Condition (Fixer or Turnkey)
The Home Inspection Process
Services Agreement
Washington State Brokerage Pamphlet
Next Steps
JUNIOR TORRES Exceeding Expectations
Team Torres
From start to finish, Junior will help you navigate the real estate process with unparalleled service, energetic follow-through, and professional advocacy. He is backed up by his team of knowledgeable professionals whose mission each day is to exceed your expectations. Period.
Junior Torres
Real Estate Professional and Team Lead
Junior is among the top 1% of real estate agents in Washington State and has facilitated more than $1 billion in real estate sales. His goal is to provide unparalleled service for his clients, helping them obtain the best possible outcome in the shortest amount of time. Junior believes that a client’s interests come first, and that character and reputation are the most important qualities one can possess.
A native of the Dominican Republic, Junior moved to New York City at the age of 12 and spent his formative years there. He then studied marketing as an undergrad and went on to earn a law degree from Syracuse University College of Law, where he focused on real estate law.
After moving to Seattle in 2001, he transferred his enthusiasm, vision and attention to detail to the real estate industry. Junior’s legal and marketing experience gave him the opportunity to develop strong research and negotiation skills, as well as the ability to quickly evaluate situations and resolve problems.
Junior is consistently ranked as one of Windermere’s top agents nationwide. For two years in a row, in 2022 and 2023, The Northwest Multiple Listing Service (NWMLS) ranked Junior as the No. 1 broker in the city of Seattle by total sales volume. In 2024, he was ranked the No. 1 Latino broker by sales volume in the United States by the National Association of Hispanic Real Estate Professionals (NAHREP).
Junior is active in the community and volunteers as a member of the board of directors for Mercy Housing Northwest. His volunteer work parallels nicely with his real estate practice at Windermere. While Junior lives in Montlake and considers Seattle his adopted hometown, he also owns investment properties in Seattle and maintains a residence in Manhattan. Junior is fluent in Spanish, enjoys exploring Seattle’s vibrant restaurant scene, and keeps active with running, boxing, and skiing.
+$1 billion
in real estate sales
Top 1%
Agents in Washington State
Top 5
Agents at Windermere for 10 years by sales volume and number of transactions
No.
1
among Latino agents in the US by sales volume in 2024
15+ years of experience
Team Torres
Daniel Giner
Client Relations Manager
With over 8 years of experience in customer service and client engagement, Daniel has helped more than 200 clients through the real estate transaction process, providing them with the highest level of professional service so they feel confident in their decision to buy. Daniel earned his B.A. in Business Administration from the Foster School of Business at the University of Washington and has previously worked in the fields of professional sports, focusing on fan engagement for the Seattle Seahawks, and in corporate finance. With his fine-tuned ability to think critically and solve complex problems, he is adept at successfully guiding clients through the complex Seattle housing market and into their desired home. Outside of work, you can find Daniel at a Mariners or Seahawks game, hiking in the Cascades, or trying out a new restaurant with his friends.
Albert Ortiz Sales Associate
With an extensive background in customer service, Albert adopts a dedicated approach to building relationships with clients. He offers a strong knowledge of the ever-changing local market and upholds that careful attention to detail is the key to achieving client goals. Albert spent his formative years in Monte Cristi, Dominican Republic, and has also lived in Lawrenceville, Georgia. Outside of work, Albert enjoys practicing boxing and jiu jitsu, and spending quality time with his family.
Jackie DiGangi Team Manager
With more than 25 years of experience in the real estate industry, Jackie brings to Team Torres a well-rounded background and a wealth of valuable experience, including as an escrow assistant, transaction coordinator, and team manager. While working with clients through every phase of the real estate transaction process, Jackie draws on her experience and excellent communication skills to ensure that all involved parties remain informed and on track, from the beginning of the transaction to its successful close.
With unparalleled service, energetic follow-through, and professional advocacy, their mission is to exceed your expectations.
Team Torres Organization
Team Lead
Junior Torres
Real Estate Professional
Sales and Operations
Daniel Giner
Client Relations Manager
Albert Ortiz
Sales Associate
Jackie DiGangi Team Manager
Junior’s Pledge of Performance
Manage Your Search and Sale Process
I will personally guide and proactively advise you in your search and sale process, at any time of day. I will protect your interests and provide the hard facts that you need for your negotiation strategy.
Negotiate the Best Price
I will help you determine how much you can afford and will find you the right property. I will determine the cost of comparable properties, negotiate the best price and terms of sale, coordinate your financing, and handle all of the paperwork.
Control the Transaction Process
I will promptly evaluate all situations and predict unforeseeable issues that could arise during your transaction.
Before We Begin
Financial Preparation
Identify Your Price Range
Before we begin our search, it’s a good idea to identify the price range that you can afford. A mortgage lender will want to know that you can handle the down payment, as well as a monthly mortgage payment made up of principal, interest, taxes, and insurance (PITI).
Connect With A Mortgage Specialist
There are many loan programs and means of borrowing money available to buyers today. To ease this process for you, I can provide the names of several trusted, knowledgeable mortgage specialists with whom I have worked extensively that will advise you on your many options.
Understand Qualifying Factors and Gather Documentation
Prior to working with a mortgage specialist, it’s helpful to understand what information lenders will need from you, a borrower. Three primary factors will help determine whether you qualify for home financing:
` Your income
` Your assets
` Your credit history
Most loan programs require you to verify all of your income with official documentation. Your mortgage specialist will let you know what specific documents are needed and when. If you have an employer, you will typically need to provide pay stubs and your W-2. If you are self-employed, you may need to provide copies of past tax returns.
Consider Down Payment Amount and Closing Costs
Your required down payment will vary according to the loan program you and your mortgage specialist decide on. There are several affordable options for borrowers. Closing costs are associated with finalizing your transaction and include the appraisal fee, loan origination fee, title insurance, escrow services, and legal recording of documents. Each loan is different, so it’s important to understand these fees when discussing with a mortgage expert.
Gain Loan Pre-Approval
I recommend asking your mortgage professional about getting pre-approved for a mortgage before we start your home search. This will help us focus on a price range that’s comfortable for you and will make your offer stronger in the eyes of a seller. Although a pre-approval does not always guarantee a final loan approval, it will give you a good idea of what you can afford.
Educational Buying 101 Tour
Understanding the local real estate landscape − from architectural style, building history, and geography − is invaluable when you’re in the market for a home. This is why I offer each client a crash course in home-buying combined with a personalized architectural tour. As I drive you through Seattle’s neighborhoods, I’ll teach you about how homes are built, the pros and cons of various styles, and what to look for so you can make your decision with confidence.
You will learn about:
` Characteristics of various styles and historical periods of homes, as well as their benefits and drawbacks.
` Materials used in construction and how they affect quality and value.
` Types of home mechanical systems, how they work, and what to watch out for.
` Various building, renovation, and remodeling options and their benefits, complexities, and costs.
` How to spot homes that are good or bad candidates for remodels or renovation.
` What to know when it comes to appliances.
This will put you in the driver’s seat with the knowledge you need to begin an informed and efficient home search.
Property Types
Condominium – “Condo”
With a condominium, you are purchasing a specific unit within a building and a percentage of the building’s communal space. The building’s exterior and the land are owned by an association. As a condo owner, you pay monthly Homeowners’ Association (HOA) fees for maintenance of the building and shared spaces. Financing is relatively conventional for condos. Subletting rules vary, but it is often allowed with few restrictions. Property tax is assessed according to the value of each separate unit.
Cooperative Ownership – “Co-Op”
Owning a co-op does not mean owning a specific unit, but rather means owning shares of an entity, often a corporation, that owns the entire building. Co-op owners sign a lease with the corporation to allow them to reside in a specific unit. The co-op pays the property tax for the building and has discretion in restricting subletting, purchase, sale and financial eligibility for shareholders. Typically, there is an application / interview process involved and owner-tenants can approve or deny a potential new tenant. The pool of banks that provide co-op loans is limited, which can make financing more challenging.
Townhouse
A townhouse is typically a multi-story building with little to no lawn or yard space (referred to as a zero lot line). A townhouse may stand-alone or have walls shared with other townhouses on the same property. Although rare, some townhouses have small HOA fees for shared exteriors or common areas. The main difference between a townhouse and a condo is that condo owners own only the inside of their unit, whereas townhouse owners own both the interior of their unit and the exterior of the building.
Single-family
A single-family home is a free-standing residential building that sits on property larger than the home itself. The building is not attached to another dwelling by common walls and the entire structure (inside and out) and the land it sits on belong to the owner.
Multi-family
With a multi-family property, several separate residential units are contained within one building or several buildings within a complex. Common multi-family properties are apartment buildings and duplexes. Properties of this type can be owned by an individual or jointly by several parties.
Detached Accessory Dwelling Units (DADUs)
Detached Accessory Dwelling Units are independent structures on the same property as a main residence but are completely selfcontained living spaces. These units include essential amenities like kitchens, bathrooms, and bedrooms/sleeping areas. DADUs can come in various forms, from converted garages to purposebuilt backyard cottages, and homeowners can generally use these units to generate rental income.
Accessory Dwelling Units (ADUs)
An Accessory Dwelling Unit is a structure fit to provide accommodations that shares the same property as an existing primary residence, either attached to the residence on the lot or constructed as a stand-alone unit. These are sometimes also known as mother-in-law units, or secondary housing units. Zoning regulations for ADUs vary by region.
01 02 03 04
Buyer Timeline
Pre-Buying
Starting the Process
I will meet to discuss your property goals and the attributes of the region’s various neighborhoods.
Loan Pre-approval
A pre-approval is a written statement from a lender stating that they have reviewed your loan application, credit report, and supporting documents and have determined that you are qualified to purchase a property A) up to a specific price and B) assuming a specified down payment amount. Although a pre-approval does not always guarantee a final loan approval, it will give you a good idea of what you can afford. You will work with a mortgage loan officer to establish a budget and acquire a loan pre-approval, which will help me target your home search. If you don’t have a lender, I’ll be happy to recommend a few that I’ve worked with and trust from previous experience.
Educational Buying 101 Tour
To help you narrow your search for the perfect property, I will personally take you on an educational tour. You will learn about various types of construction, housing types, and style options available in the area.
Property Search
Armed with your price range, pre-approval, and knowledge of the area, I will find and research homes that satisfy your property goals. Of course, you’re welcome to search for homes yourself and I will be happy to investigate any homes you may find, as well as facilitate private showings and join you at open houses. 05 06 07 08
Offer + Acceptance
Making an Offer
I will work with you to analyze the offer price. This includes reviewing recent sales in the area and strategizing the best possible offer terms (price, contingencies, dates, etc.) that will persuade the seller to choose you.
Earnest Money & Escrow
As part of your offer, I will facilitate the process of sending your earnest money to escrow. An earnest payment is a security deposit that shows you are serious about completing the transaction. Earnest money accompanies the offer check that is sent to escrow, a neutral third party. The offer check will remain in escrow until instructions are given to release the funds, which will be applied towards closing costs.
Offer Acceptance
I will present the offer to the seller, negotiate the sale price and conditions, and procure acceptance of the offer.
Mutual Acceptance
All parties have signed the necessary documents and the offer is accepted by both the seller and the buyer.
Offer Contingency
Once an offer is made on a home and mutual acceptance is reached, certain contingencies must be met by the closing date when you take legal possession of the property (generally 30-45 days after mutual acceptance). A finalized sale is generally contingent upon appraisal, home inspection, and final mortgage approval.
Home Inspection
You will hire a home inspector to walk through the property, uncover any hidden issues, and verify the property’s overall condition. I will be happy to recommend a trusted and knowledgeable inspector. I will attend the inspection with you and help you ask questions of the inspector and obtain cost quotes for any necessary repairs.
Finalize Offer with Seller
Post-inspection, I will negotiate any repairs or price reductions. My guidance will ensure that you get a better deal on the purchase price and avoid paying too much for repairs. I will often negotiate a purchase credit to you, the buyer, for any major property repairs needed.
Home Appraisal
Your mortgage lender will send an appraiser to provide a written estimate of the value of the property.
Title Search
Under the direction of your lender, you will order a title search to clear up any conditions or liens against the property. 09 14 10 15 11 16 12 13
Home Insurance
You will obtain quotes and apply for homeowners insurance. I can guide you through the process of selecting an insurance agent, and will help you find the right policy as well as any potential savings.
Final Loan Approval
With the appraisal and your insurance in hand, you will work with your lender to finalize your loan documents. Once escrow receives your final loan documents, they will contact you and facilitate closing.
Closing Day
You and the seller will sign your remaining closing documents and I will give you the keys to your new home!
JUNIOR TORRES Exceeding Expectations
Entering Into an Agreement
Once you’ve found the home you want to buy, we’ll complete a purchase-and-sale agreement together. This is the contract in which you and the seller outline the details of the property transfer. The purchase-and-sale agreement usually consists of the following pages:
` Earnest money receipt
` Financing addendum
` Inspection addendum
` Conditions/disclosures addendum
` Contingency addendum (when needed)
` Special conditions addendum
` Lead-based paint notification (when applicable)
` Agency disclosure
` Property disclosure form (completed by seller)
Buyer Brokerage Services Agreement
The state of Washington requires that buyers sign a Buyer Brokerage Services Agreement in order to work with a licensed broker like me. Its purpose is to specify the terms of our agreement and outline the services I will provide you as we work together on your home purchase. It will help make your home buying experience a positive one as it requires me to follow specific professional guidelines, provide transparency about my legal duties and compensation, and is intended to protect you from conflicts of interest. By signing an agreement with me, you agree not to work with any other broker to help you buy a home, and in return you’ll receive the same superior representation, in-depth market information, and unparalleled service I offer to all my clients, helping you to obtain the best possible outcome in the shortest amount of time.
Note that this agreement does not require you to buy a home, and you have the ability to opt out of the agreement at any time by filling out a termination form. Please let me know if you have any questions or would like more information before signing.
Please read the enclosed brochure “Real Estate Brokerage in Washington,” which describes my duties as a real estate broker to you, the buyer, as well as other relevant details regarding the agreement. If you have any questions about the information in this pamphlet, please let me know.
Putting Together Your Offer
Before writing your first offer on a home, I’ll guide you through its various components, including the Purchase-and-Sale Agreement, state-required forms, all contingencies, and what you’ll need to prepare to back up an offer financially.
Preparing the Offer
When you’re ready to make an offer on a specific property, I will:
` Perform a market analysis to show how the home compares in value to recent listings and sales.
` Work with you to devise a comprehensive strategy for your offer.
` Tailor your offer to your comfort level and to the unique circumstances of the listing.
Presenting Your Offer to the Seller
Once we’ve written up the Purchase-and-Sale Agreement and all associated forms, I will:
` Call the seller’s agent to inform them that your offer is coming via email.
` Tell them a little about you and briefly preview the offer.
` Follow up to confirm they received the offer.
Securing Your Interest with a Deposit
Earnest money is a “good faith” deposit submitted with your offer that shows the seller you are serious about purchasing their home.
` The amount of earnest money and the forms surrounding it can make a difference in how attractive the seller finds your offer.
` In a traditional real estate market, it’s rare for a buyer to lose the earnest money. If the buyer willfully decides, however, that they no longer want to buy the house and has no legal reason for rescinding their offer, then the seller has the right to retain the earnest money.
` In a very competitive market such as ours, earnest money can convey the seriousness of your commitment to purchasing the property. For example, you may authorize that your earnest money be converted into a non-refundable deposit. This signals to the seller that you are committed and willing to risk your deposit in order to secure the purchase.
may face. I’ll also connect with the listing broker to gauge the market’s reception of the particular home. Then I’ll advise you on specific strategies to maximize the chances your offer will be accepted by the seller, which may include:
Price & Escalation
In a multiple-offer situation, it may be prudent to offer a priceescalation provision - or escalator clause - to strengthen your offer against competing offers. To do this correctly and confidently, you’ll need to know your uppermost price limit for the purchase. We’ll discuss how an escalator can help your offer stand out, as well as any tactics that might minimize the chance a bidding war will escalate to your maximum budget.
Contingencies
When we submit an offer on a listing that is expected to receive competing offers, we’ll discuss the pros and cons of waving certain contingencies. These include the inspection, financing, appraisal and title contingencies. I’ll counsel you about the impact of each contingency and the risks associated with waiving them.
Earnest Money
Any offer we can make will require you to commit a certain dollar amount as a good-faith deposit in a competitive situation. The more money you can commit, the more your offer may stand out to the seller. Depending on the level of your interest in the listing, we can also authorize escrow to convert earnest money into a nonrefundable deposit. We can discuss the benefits of this option, as well as any risks you should be aware of.
Timing
In a competitive scenario, it may also help to offer a specific closing timeline if that’s meaningful to the seller. A favorable rent-back provision may also appeal to the seller so they have more time to vacate the property. Either way, I’ll work to ascertain the seller’s preferences before we write the offer.
Home Inspection
When you’re ready to complete a purchase-and-sale agreement on a home, your offer will generally be contingent upon a professional inspection of the entire property. This is both to help you feel confident in your purchase and to help your lender feel confident about loaning you the money. The home inspector will look beyond the cosmetics to make sure that the home’s systems operate properly. They will also look for large repairs that are needed and report on the overall condition of the home.
A thorough home inspection will point out the positive aspects of a home and highlight the maintenance that may be required to keep the property in good shape.
The standard inspector’s report will review the condition of the home’s:
` Heating and cooling systems.
` Interior plumbing and electrical systems.
` Roof, attic, and visible insulation.
` Walls, ceilings, floors, doors and windows.
` Foundation, basement, and visible structure.
Red flags the inspector will look for include:
` Cracks in cement walls.
` Water stains indicating leakage.
` Indication of wood rot.
As your Windermere agent, I’m familiar with home inspection services and can provide you with a list of trusted names to choose from. Other friends who have recently been through the buying process may also have recommendations for inspectors. Remember that no home is perfect. If problems are found, I will help you work through the issues, big and small.
Important Questions Answered
What is the difference between pre-qualified and pre-approved?
Pre-qualification estimates your potential loan amount based on your income, debts, and available down payment, giving you a general idea of what you can afford. Pre-approval, however, is a more detailed process where you submit a mortgage application, provide financial documents, and undergo a credit check. The lender then issues a pre-approval letter, indicating their willingness to lend you a specific amount, which carries more weight with sellers and real estate agents.
What is earnest money?
Earnest money is a ‘good faith’ deposit that is submitted with your offer to show the seller that you are serious about purchasing their home. Earnest money is a required part of an offer. There is no set, required amount. However, the amount can certainly make a difference in the negotiation process. This money eventually becomes part of the purchase and will show as a ‘credit to the buyer’ on the settlement statement created by the escrow company.
What are closing costs?
Closing costs are charges paid to various entities during your real estate transaction. They can include escrow fees, document preparation fees, the cost of inspection, and lender fees.
What is a point?
A point is a financial term that is used to refer to 1% of a loan’s principal amount. At closing, some lenders charge points in addition to interest fees.
What is title insurance?
Title insurance protects against loss from any defects in the legal title, liens against the property, or other adverse claims. Your lender will likely require title insurance
Notable Transactions
806 14th Ave E, Seattle
The Bordeaux Mansion, a piece of history and art, was the second mansion ever built on Capitol Hill. Built in 1904 and reborn in 2003, this fabulous home on North Capitol Hill is reminiscent of the gracious ways of a bygone era, yet surprises with an exquisite remodel that brings the entire mansion into the new millennium.
10250 NE 64th St, Kirkland
This Craftsman view home located in the desirable Lakeview neighborhood of Houghton offers sweeping westerly views of Lake Washington, the Seattle skyline, and the Olympic mountain range. The main floor features three bedrooms, including a spacious owner’s suite, an office with wainscoting, a gas fireplace and glass French doors, as well as a laundry room and access to the backyard. The upper floor offers vaulted ceilings and an additional bedroom/den with a gourmet kitchen, living and dining rooms, and family room. Take in the fresh air and enjoy the magnificent views from one of two decks. This home’s excellent location is just minutes away from the waterfront, parks, shopping, dining and the Cross Kirkland Corridor.
4528 W Laurel Dr NE, Seattle
This recently remodeled Laurelhurst Tudor has all the modern conveniences to suit today’s lifestyles. Featuring showstopping lake and mountain views, this stylish home is complete with highend finishes throughout, as well as the latest systems. A light and bright chef-inspired kitchen opens to a cozy family room with a dramatic gas ribbon fireplace. Enjoy peaceful views in the owner’s retreat upstairs or take everything in from the back patio. A new two-car garage complete with an electric vehicle hook-up round out this incredible home.
1919 Federal Ave E, Seattle
Innovative architecture and exceptional craftsmanship coalesce at Suncrest, privately commissioned and built in 2022, by Halverson Design Build. Located on much sought after Federal Avenue, this modern masterpiece reflects the elegance of Seattle’s most desirable neighborhood, with light-filled interiors containing floorto-ceiling windows and rich yet sleek finishes that flow over three levels. The home also features stunning views throughout the upper levels and spacious roof deck of Seattle, Lake Union, and the Olympic Mountains.
111 W Highland Dr #7W, Seattle
Welcome to one of Seattle’s most legendary luxury addresses. This boutique condominium is located directly adjacent to Kerry Park on the south slope of Queen Anne. Rarely available, this stunning 2,592-sq-ft condo offers commanding views of the Seattle skyline, Puget Sound, Mt. Rainier, and the Cascades. This unit features 2 generously-sized private bedrooms with cedar-lined closets, 2.5 baths, 2 fireplaces, 3 balconies, a grand entry foyer, and customdesigned storage.
3802 24th Ave S, Seattle
This North Beacon Hill home is sure to stun you. Floor-to-ceiling windows encapsulate the beauty found in looking out upon Lake Washington, the Cascades, Mt. Baker, and downtown Bellevue. The exterior entertaining spaces are legendary and built to create memorable evenings, be it with an intimate dinner soirée or a large family party. Become a regular and unwind in one of Seattle’s most authentic neighborhoods.
3614 W Lawton St, Seattle
An updated urban oasis framed by Discovery Park and stunning Puget Sound views, on a quiet, dead-end street in Magnolia. This beautiful family home is the intersection between utility and style. The sprawling mid-century home is centered on a light-filled and open kitchen and living space, and is perfect for entertaining. With a second master suite, and a second kitchen as well, the lower level is all set to accommodate guests or grandparents with plenty of extra space. The entertainment space continues out to a large deck which features views like no other.
5045 Forest Ave, Mercer Island
Unsurpassed elegance on the shores of Lake Washington. Located down a quiet lane with over 4 acres of secluded woodland setting, and 180 feet of waterfront and mountain views, this home exemplifies Pacific Northwest elegance. The French country style of this estate continues from the facade into the luxurious interior finishes, and a kitchen built for a passionate private chef. In addition to the spacious 4,500-sq-ft main home, this property includes a 1,600-sq-ft guest house which shares in the stunning waterfront views.
Accolades & Press
RANKED
No. 1 Broker
by Northwest Multiple Listing Service in the city of Seattle by sales volume in 2022 & 2023
Featured in the Press
Junior’s listings and expertise have been featured in numerous media outlets, including: The Wall Street Journal, Financial Times, Seattle PI, ABC KOMO News, Curbed, Capitol Hill Seattle Blog, and Puget Sound Business Journal.
JUNIOR TORRES Exceeding Expectations
Client Testimonials
Junior was truly outstanding in every way, from the initial meeting to the closing of our home. My husband and I were absolutely thrilled to find him and have already recommended him to our friends. Junior made time to take us to see homes every week and highlighted homes he thought would be of particular interest to us. He spent time educating us about what to look for in a home at the beginning of our search and gave us sage advice about the value of the homes we saw as well as the vagaries of the current marketplace. Junior has his finger on the pulse of real estate in Seattle and we felt 100% confident in his ability to help us secure a house that we loved.”
GABRIELLE BERGER & SETH COHEN
The service we received by Junior Torres was and is always beyond excellent. Junior is extremely professional and always acted in our best interest. He is very knowledgeable in his field and when we didn’t understand any part of the transactions, he explained every detail so that we totally understood. He has been tireless in helping us find a home and instead of showing us anything, he is very conscious of our needs and budget. Most of all, Junior was always available for us whenever we had any problems or questions. He always shows patience and a willingness to work with us.”
ROSE SUMI-DIGIANNI & VINCENT DIGIANNI
Junior is the most insightful and professional agent I have ever worked with. In my career, I have relocated 27 times. Often, selling real estate means sellers feel like commissions are too high to equate with value received. Junior made us believers that with such a competent agent, you get every bit of what you paid for.”
JEFFERY & REBECCA KRIDA
Junior is very professional, friendly, and often went out of his way to help us, including dealing with getting the mortgage and contractors. He even helped me rent out my current place.”
PUNIT JAVA & NANCY XU
Junior was professional and always responsive – we loved working with him! Junior was the best. He went beyond the call of duty, especially helping us manage our pets throughout the process and we consider him a great friend.”
KRIS KARSON & MEENU CHHABRA
Very personable. Junior really cared about educating me as a first-time home buyer on what to look for that would benefit me as a home buyer in the long run. He would meet me anywhere close to where I was regardless of how far it was from him. Another amazing effort he made was that he took time to go over the 600 pages of my homeowners’ association resale certificate to educate me about the property. That was outstanding!”
TIFFANY MERRILL
Fantastic! Junior was readily available and answered all of my questions with a wonderful attitude. Constant communication. He was never more than a text away when I had a question pop up or needed help with paperwork. Junior was calm, courteous, and communicated with me constantly. It was due to his work and his diligence that I was able to sell my house and buy a new condo in less than a month.”
TYNER GUILLOT
Junior anticipates every need, and I always know that he will deliver on what he says. His confidence, coupled with his unmatched market knowledge makes him the best agent ever! The speed in which he found a perfect buyer was truly amazing. Also, his diligence in marketing the home was admirable.”
NICOLE VAN HOUTEN
Junior represented me in both the sale and purchase of houses. He possesses all the traits that I (and anyone) would look for in an agent and representation. On the sale side, he walked through my house a number of times and we discussed some updates, fixes, and staging to put my home in its best light. There was an open house one weekend and I received multiple offers. On the buy side, he was always available to take me out to see properties, some before they were widely publicized. When it came time to make an offer, he was able to negotiate a sale price below ask and obtain further seller concessions at closing based on the inspection. Truly cannot recommend him highly enough. All the attributes listed above (local and market knowledge, thoroughness in the process, accessibility, etc.) he possesses in spades.”
TIMOTHY FROMMER
I used Junior Torres when I bought my house in 2008. Since then he has been a better-than-superb, unfailing resource for answering questions and giving me advice over the years related to my home.”
JAY GANTZ
Recently Closed Transactions
Ballard + Sunset Hill + Whitter Heights
7534 B 15th Ave NW, Seattle
6529 9th Ave NW, Seattle
7318 B 16th Ave NW #2, Seattle
7534 15th Ave NW #B, Seattle
8015 23rd Ave NW, Seattle
8341 30th Ave NW, Seattle
8025 Earl Ave NW, Seattle
1529 NW 58th St #A, Seattle
932 NW 62nd St, Seattle
6518 16th Ave NW, Seattle
6531 16th Ave NW, Seattle
3010 NW 65th St, Seattle
5523 34th Ave NW, Seattle
3005 NW 80th St, Seattle
2643 NW 64th St, Seattle
6903 32nd Ave NW, Seattle
2231 NW 62nd St #A, Seattle
2222 NW 62nd St, Seattle
910 NW 62nd St, Seattle
8070 25th Ave NW, Seattle
7753 12th Ave NW, Seattle
Beacon Hill
6633 Carleton Ave S #A, Seattle
3802 24th Ave S, Seattle
2513 F 13th Ave S, Seattle
1723 S State St, Seattle
425 S Spencer St #2, Seattle
2206 17th Ave S #B, Seattle
2350 A 17th Ave S, Seattle
4808 S Raymond St, Seattle
4911 24th Ave S, Seattle
4929 52nd Ave S, Seattle
4865 35th Ave S, Seattle
5528 S Othello St, Seattle
5515 Renton Ave S, Seattle
4818 S Austin St, Seattle
3419 Alamo Pl S, Seattle
3427 Alamo Pl S, Seattle
1329 A 14th Ave S, Seattle
1329 14th Ave S, Seattle
2350 17th Ave S #B, Seattle
2348 17th Ave S, Seattle
Bellevue
4028 156th Ave SE, Bellevue
14412 SE 47th Pl, Bellevue
3848 Lake Washington Blvd SE #6C, Bellevue
4439 158th Ave SE, Bellevue 10700 NE 4th St #3608, Bellevue 10700 NE 4th St #3108, Bellevue
500 106th Ave NE #3511, Bellevue
3890 163rd Ave SE, Bellevue
2103 138th Ave SE, Bellevue 740 122nd Ave NE #4, Bellevue 14645 NE 13th Pl, Bellevue
1830 138th Pl SE, Bellevue
12670 NE 10th Pl #A104, Bellevue
315 124th Pl NE, Bellevue 12531 NE 32nd St, Bellevue
7416 121st Ave SE, Newcastle 5375 153rd Ave SE, Bellevue
Belltown + Downtown + Denny
2720 3rd Ave #303, Seattle
2030 Western Ave #513, Seattle
737 Olive Wy #2300, Seattle 66 Bell St #102, Seattle 2929 1st Ave #600, Seattle 819 Virginia St #3305, Seattle
3104 Western Ave #604, Seattle 2201 3rd Ave #2204, Seattle 819 Virginia St #1904, Seattle 2717 Western Ave #7012, Seattle 2801 1st Ave #1217, Seattle
3104 Western Ave #216, Seattle 2929 1st Ave #820, Seattle 1400 Hubbell Pl #513, Seattle 66 Bell St #306, Seattle 2121 Terry Ave #1802, Seattle 820 Blanchard St #904, Seattle 737 Olive Way #3001, Seattle 66 Bell St #210, Seattle 820 Blanchard St #1902, Seattle 1107 1st Ave #807, Seattle
737 Olive Way #3502, Seattle 737 Olive Way #3201, Seattle 909 5th Ave #204, Seattle 1420 Terry Ave #606, Seattle 2319 1st Ave #202, Seattle 401 9th Ave N #615, Seattle
Bothell + Kenmore + Lake Forest Park + Woodinville
9803 NE Riverbend Dr # A104, Bothell 19612 35th Dr SE, Bothell 23525 3rd Ave SE, Bothell
15700 116th Ave NE #101, Bothell 15016 106th Ave NE, Bothell 17629 35th Dr SE #2028, Bothell 18910 Bothell Everett Hwy #D3, Bothell 22010 Meridian Ave S, Bothell 17424 5th Pl W, Bothell 1308 183rd St SE, Bothell 10 217th Pl SW, Bothell 430 170th Pl SE, Bothell
9623 NE 204th Place, Bothell 15427 62nd Ave NE, Kenmore 6608 NE 153rd Pl, Kenmore 19037 73rd Ave NE, Kenmore 20419 61st Ave NE, Kenmore 5702 NE 182nd St, Kenmore 18724 40th Pl NE, Lake Forest Park 14626 136th Pl NE, Woodinville
7623 239th Place SW, Edmonds 16034 68th Ave W, Edmonds
8005 242nd St SW, Edmonds
8100 238th St SW #D, Edmonds
7507 210th St SW #8, Edmonds
9806 240th Pl SW, Edmonds
8907 230th St SW, Edmonds
9004 238th St SW, Edmonds
22934 102nd Pl W, Edmonds
7911 198th St SW, Edmonds 8014 215th St SW, Edmonds 5511 145th St SW, Edmonds 9915 236th Pl SW, Edmonds
Everett + Marysville
4523 114th Pl SE, Everett 2305 120th Pl SE, Everett 310 Alverson Blvd, Everett 7313 85th Ave NE, Marysville 4903 146th St NE, Marysville 3720 72nd Ave NE, Marysville
First Hill
1105 Spring St #1208, Seattle 1420 Terry Ave N #603, Seattle 1105 Spring St #303, Seattle 1420 Terry Ave #303, Seattle 615 Boren Ave #28, Seattle 1420 Terry Ave #606, Seattle 1400 Hubbell Pl #513, Seattle 1628 E Marion St, Seattle
1501 E Spring St #6, Seattle 1321 Seneca St #2102, Seattle 1000 Union St #109, Seattle 1408 12th Ave #205, Seattle
6209 S 118th Place, Seattle 4219 S Eddy St, Seattle
4626 S Fontanelle St, Seattle
12314 85th Ave S, Seattle
4539 S Henderson St #A, Seattle 10635 Dixon Dr S, Seattle
4820 S Othello St, Seattle
7322 Rainier Ave S #501, Seattle
10061 64th Ave S, Seattle
9917 64th Ave S, Seattle
9316 56th Ave S, Seattle
7013 S 115th, Seattle
6734 S 112th Pl, Seattle
Laurelhurst + View Ridge
4528 W Laurel Dr NE, Seattle 4522 NE 54th St, Seattle
7001 Sand Point Wy NE #A210, Seattle
4059 NE 87th St, Seattle 7404 45th Ave NE, Seattle 6521 48th Ave NE, Seattle 905 NE 43rd St #110, Seattle 6252 52nd Ave NE #B, Seattle 7719 58th Ave NE, Seattle 5221 37th Ave NE, Seattle 3919 48th Ave NE, Seattle 6321 NE 61st St, Seattle
4707 B NE 50th St, Seattle
2036 23rd Ave E, Seattle
4760 47th Ave NE, Seattle
Madison Park + Madison Valley
1616 41st Ave E #302, Seattle
2055 43rd Ave E #202, Seattle
2501 Canterbury Lane E #222, Seattle
2626 E Madison St #9, Seattle
2712 E Roy St, Seattle
1201 25th Ave E #B, Seattle
441 27th Ave E, Seattle
1222 24th Ave E, Seattle
439 24th Ave E, Seattle
716 26th Ave E, Seattle
2615 E John St, Seattle
217 B 24th Ave E, Seattle 215 24th Ave E #A, Seattle 215 24th Ave E #B, Seattle 576 Lake Washington Blvd E, Seattle 1128 32nd Ave E, Seattle
624 Lake Washington Blvd E, Seattle
2617 E Ward St, Seattle
Magnolia
3431 24th Ave W, Seattle
3507 30th Ave W, Seattle
1937 Clise Place W, Seattle
2808 43rd Ave W, Seattle
2637 38th Ave W, Seattle
3621 32nd Ave W, Seattle
2445 34th Ave W, Seattle
2637 46th Ave W, Seattle
3220 Arapahoe Pl W, Seattle
3700 B W Fulton St, Seattle
3215 39th Ave W, Seattle
Recently Closed Transactions
3451 37th Ave W, Seattle
2226 W Bertona St, Seattle
2520 37th Ave W, Seattle
4256 W Glenmont Lane, Seattle
4120 W Armour St, Seattle
4300 W Ruffner St, Seattle
2510 W Bertona St #433, Seattle
3210 38th Ave W, Seattle
2224 W Bertona St, Seattle
2222 W Bertona St, Seattle
3432 W Blaine St, Seattle
2450 W Lynn St, Seattle
2515 43rd Ave W, Seattle
2706 W Elmore St, Seattle
3411 A 23rd Ave W, Seattle
3050 Magnolia Blvd W, Seattle
3406 34th Ave W #B, Seattle
3612 Magnolia Blvd W, Seattle
3116 B W Raye St, Seattle
3836 36th Ave W, Seattle
Madrona + Leschi + Judkins Park
817 24th Ave S #B, Seattle
817 24th Ave S #C, Seattle
817 24th Ave S #A, Seattle
819 24th Ave S, Seattle
806 27th Ave, Seattle
827 Hiawatha Pl S #516, Seattle
735 25th Ave S, Seattle
2001 E Yesler Way #38, Seattle
2817 S Norman St, Seattle
1316 30th Ave S #B, Seattle
423 35th Ave S, Seattle
401 31st Ave, Seattle
2418 E Miller St, Seattle
3200 E Yesler Way, Seattle
721 33rd Ave S, Seattle
112 30th Ave #A, Seattle
3111 S Washington St, Seattle
918 32nd Ave S, Seattle
2511 S Washington St, Seattle
429 Randolph Ave, Seattle
327 Lake Washington Blvd, Seattle
3214 S Dearborn St, Seattle
122 Madrona Pl E, Seattle
1814 31st Ave, Seattle
3104 E Howell St, Seattle
928 34th Ave, Seattle
1817 S Lane St, Seattle
Mercer Island
3410 74th Ave SE, Mercer Island
5045 Forest Ave SE, Mercer Island
3442 79th Ave SE, Mercer Island 6615 SE 25th St, Mercer Island 2440 72nd Ave SE, Mercer Island 4736 91st Ave SE, Mercer Island 7011 SE Maker St, Mercer Island 6743 80th Ave SE, Mercer Island 8541 E Mercer Wy, Mercer Island
Montlake
1911 26th Ave E, Seattle
3152 Fuhrman Ave E, Seattle 2145 Boyer Ave E, Seattle 1824 24th Ave E, Seattle
2143 E Shelby St, Seattle 1531 E Mcgraw St, Seattle
1909 E Lynn St, Seattle 2718 11th Ave E, Seattle 2202 E Mcgraw St, Seattle 2201 16th Ave E, Seattle
1925 E Blaine St, Seattle 2307 18th Ave E, Seattle 2603 Lake Washington Blvd E, Seattle 1928 E Blaine St, Seattle 2226 E Louisa St, Seattle 1942 E Blaine, Seattle 2617 E Ward St, Seattle
14027 Sunnyside Ave N, Seattle 1751 N 88th St, Seattle 2100 N 106th St #203, Seattle
Queen Anne
1420 Taylor Ave N, Seattle 1422 Taylor Ave N, Seattle 1424 Taylor Ave N, Seattle 1902 Bigelow Ave N #401, Seattle 3609 12th Ave W, Seattle 3614 W Lawton St, Seattle 2530 15th Ave W #406, Seattle 18 Dravus St #407, Seattle 2541 2nd Ave W, Seattle 4043 Williams Ave W, Seattle 2330 W Crockett St #303, Seattle 2218 Warren Ave N, Seattle 1430 1st Ave N #1, Seattle 1525 Taylor Ave N #202, Seattle 466 Wheeler St, Seattle 1623 Taylor Ave N #204, Seattle 1623 Taylor Ave N #201, Seattle 1730 Taylor Ave N #302, Seattle 1730 Taylor Ave N #106, Seattle 474 Wheeler St, Seattle
458 Wheeler St, Seattle 1250 Taylor Ave N #304, Seattle 1009 W Blaine St, Seattle 2040 13th Ave W #43, Seattle
111 W Highland Dr #7W, Seattle 583 Battery St #3604, Seattle 1240 5th Ave N #301, Seattle 1220 2nd Ave W, Seattle 2423 3rd Ave W, Seattle 2421 3rd Ave W, Seattle 426 Smith St, Seattle
500 5th Ave W #206, Seattle
501 Roy St #T311, Seattle 2242 12th Ave W, Seattle
501 Roy St #C232, Seattle
415 W Mercer St #802, Seattle 117 John St #9, Seattle 117 John St #0, Seattle
129 Warren Ave N #D, Seattle
500 Elliott Ave W #305, Seattle 1430 1st Ave N #2, Seattle 1216 1st Ave W #102, Seattle
7702 14th Ave NE, Seattle 1524 NE 90th St #B, Seattle 8216 8th Ave NE, Seattle
Redmond
7323 Old Redmond Rd #15, Redmond 10120 212th Ave NE, Redmond 7514 232nd Ave NE, Redmond 15240 NE 81st Way #101, Redmond 10129 214th Ave NE, Redmond 13930 Morgan Dr NE, Redmond 27704 NE 34th St, Redmond 3340 W Ames Lake Dr NE, Redmond 5401 228th Ave NE, Redmond
Renton
12633 SE 160th St, Renton
1938 Olympia Ct SE, Renton 516 S 15th St, Renton
12379 SE 160th St, Renton 1321 S Puget Dr #E21, Renton 1417 Lyons Ave NE, Renton 2301 NE 10th Pl, Renton
715 N 30th, Renton 2841 NE 4th Ct, Renton 14423 152nd Pl SE, Renton 801 Rainier Ave N #F329, Renton 1901 Redmond Ave NE, Renton 15216 SE 176th Pl, Renton 14213 143rd Ave SE, Renton
Sammamish + Issaquah
10101 181st Ave SE, Issaquah 20908 SE 132nd St, Issaquah 18425 SE 64th Wy, Issaquah 26076 SE 160th St, Issaquah 24105 SE 42nd St, Issaquah 1672 28th Ave NE, Issaquah 26002 SE 22nd Pl, Sammamish 24822 SE 37th Pl, Sammamish 4311 Issaquah-Pine Lake Rd SE, Sammamish 23218 NE 10th Pl, Sammamish 26002 SE 22nd Pl, Sammamish 111 246th Way SE, Sammamish
Seward
Park
4709 S Hudson Street, Seattle 4833 S Lucile St, Seattle 3818 Cascadia Ave S, Seattle 5957 44th Ave S, Seattle 4715 54th Ave S, Seattle 5414 S Lucile St, Seattle 5117 S Morgan St, Seattle 6425 Hampton Rd S, Seattle
Shoreline
2133 N 172nd St, Shoreline 15305 Ashworth Place N, Shoreline 18005 6th Ave NW, Shoreline 1838 N 204th Pl, Shoreline 17521 Wallingford Ave N, Shoreline 19348 2nd Ave NW, Shoreline 15531 Wallingford Ave N, Shoreline 1009 NW 178th St, Shoreline 18900 8th Ave NW #202, Shoreline 16359 Wallingford Ave N, Shoreline 915 N 198th St, Shoreline 16318 Fremont Ave N, Shoreline 14803 Corliss Ave N, Shoreline 801 NE 201st St, Shoreline 2310 N 185th St, Shoreline 19611 11th Ave NW, Shoreline
1632 N 167th St, Shoreline 112 NW 178th St, Shoreline 15509 Wallingford Ave N, Shoreline 18024 1st Ave NE, Shoreline
2139 N 178th Street, Shoreline
18900 8th Ave NW #119, Shoreline 844 N 161st Pl #57, Shoreline 15548 32nd Ave NE, Shoreline 17037 14th Ave NE, Shoreline 15536 8th Ave NE, Shoreline 1241 NE 170th St, Shoreline 315 NE 158th St, Shoreline 18100 15th Ave NE #B111, Shoreline 1838 N 204th Pl, Shoreline 1416 N 137th St, Shoreline 20121 7th Ave NE, Shoreline 19021 Firlands Way N, Shoreline 2341 N 180th St, Shoreline
5022 Sunset Lane, Shoreline 808 N 145th Lane, Shoreline 122 NE 158th St, Shoreline 1120 NE 162nd St, Shoreline
Snohomish
19627 133rd Ave SE, Snohomish 15811 60th Dr SE, Snohomish 15201 238th Pl SE, Snohomish 11810 59th Dr SE, Snohomish 18321 5th St NE, Snohomish
Wallingford
4516 Bagley Ave N, Seattle 4057 1st Ave NE, Seattle 4740 Latona Ave NE, Seattle 2502 N 50th St #103, Seattle 147 NE 52nd St, Seattle 2214 N 43rd St, Seattle 4222 Interlake Ave N, Seattle 4600 Green Lake Way N, Seattle 2212 N 39th St, Seattle 2413 N 39th St, Seattle
2401 N Northlake Way #F3, Seattle
1760 N Northlake Way #525, Seattle
3803 Meridian Ave N, Seattle
3401 Wallingford Ave N #307, Seattle
4015 1st Ave NE, Seattle
5018 Green Lake Way N, Seattle
112 NE 50th St, Seattle
4747 Latona Ave NE, Seattle
1935 N 50th St, Seattle 4045 1st Ave NE, Seattle 4016 Corliss Ave N, Seattle
3806 Wallingford Ave N, Seattle 3719 Meridian Ave N, Seattle
Wedgwood + Matthews Beach
7716 20th Ave NE, Seattle 2316 NE 88th St, Seattle
13018 23rd Ave NE, Seattle 444 N 130th St, Seattle 4688 NE 89th St, Seattle
10745 Exeter Ave NE, Seattle
3903 NE 115th St, Seattle
4059 NE 87th St, Seattle
7752 NE 36th Ave, Seattle
4738 35th Ave NE, Seattle 4337 NE 57th St, Seattle
4522 NE 54th St, Seattle 4039 NE 87th St, Seattle
8706 25th Ave NE, Seattle 3804 NE 92nd St #A, Seattle 1510 NE 90th St, Seattle 12400 42nd Ave NE, Seattle
1226 S Trenton St, Seattle 739 S Homer St, Seattle
Beyond Seattle
12220 240th St NE, Arlington
4354 S 312th St, Auburn 2204 27th St SE, Auburn 9638 Green Spot Pl NE, Bainbridge Island 9551 NE South Beach Dr #3F, Bainbridge Island
23325 SE 289th St, Black Diamond
240 S 152nd St #T105, Burien 16210 12th Ave SW, Burien 11021 Glen Acres Dr S, Burien 16207 12th Ave SW, Burien
1095 Cavalero Rd, Camano Island
500 Rocking Chair Rd, Cle Elum
330 Tipple Hill Lp, Cle Elum
20416 4th Pl S, Des Moines
22515 6th Ave S #502, Des Moines
20625 2nd Ave S, Des Moines
4750 328th Ave SE, Fall City
33613 SE 44th Place, Fall City
32226 23rd Ave SW, Federal Way
30913 11th Ave SW, Federal Way 5754 W 26th Crest, Ferndale 2310 Brown Rd, Ferndale 16023 Low Lane, Glacier 23927 92nd Pl S, Kent 4413 Roxanna Loop SE, Lacey 9321 Balata Ct NE, Lacey 7017 114th Ave NE, Lake Stevens 27759 257th Ave SE, Maple Valley 8406 Harvard Ct SE, Olympia 4608 Thompson Lane SE, Olympia 4608 Thompson Lane SE, Olympia 22 Ringtail Ln, Orcas Island 11 Landgrove Lane, Sequim
378 Smugglers Cove Road, Shaw Island 7532 N Fork Rd SE, Snoqualmie 1304 Silver Springs Wy, Stanwood 4926 N Whitman St, Tacoma
3920 N 30th St, Tacoma
7405 Churchill Rd SE, Tenino 9503 SW 188th St, Vashon Island
Why Windermere?
Windermere Real Estate
Established in 1972, Windermere Real Estate now encompasses over 300 offices and 7,000 agents throughout the Western U.S. and Mexico. Locally owned and operated, Windermere serves all areas and property types, with the neighborhood knowledge and market expertise necessary to create thriving communities. Our full-service firm ensures a successful real estate experience for all our clients.
Why Windermere?
Windermere’s extensive network allows me to collaborate with the region’s largest cohort of listing brokers so you never miss out on new inventory.
` Windermere typically has the most listings in the market at any given time. This is meaningful because with inventory so tight in our region, my network access to the most resale and new construction listings is a big advantage.
` My relationships with Windermere listing brokers serve to ease the communication, flow and vibe of transactions that otherwise could be taxing.
In a Competitive Market, Windermere Gives Buyers the Edge
Buyers choosing Windermere increase their odds of succeeding in a competitive market because:
` Windermere brokers receive extensive training on how to (a) craft the most competitive offer for their buyer, and (b) position it to have the greatest appeal to the seller.
` Windermere brokers adjust their negotiating techniques based on real-time market conditions.
` A market-wide survey of Northwest MLS agents indicated that they are more confident about completing transactions with Windermere brokers than with brokers from any other firm.
Windermere Standards of Practice
Windermere’s standards of practice embody our commitment to the highest benchmarks of client service. When you choose to buy or sell your home through Windermere, you are assured a premium level of service, integrity, and ethics.
Share of Winning Buyers When Competing Against Multiple Offers**
*Source: Trendgraphix. Data reflects dollar volume of King County homes and condos sold over a recent 12-month period. **Multiple offers are factored based on home sales that close above list price. Market share data reflects sales of Seattle and Eastside single family homes over a recent 12-month period. Information gathered from but not verified by NWMLS.
Windermere Sells
Washington State Brokerage Pamphlet
Thank you for considering Junior and Team Torres for your home search.
Real Estate Brokerage in Washington
Introduction
This pamphlet provides general information about real estate brokerage and summarizes the laws related to real estate brokerage relationships. It describes a real estate broker’s duties to the seller/landlord and buyer/tenant. Detailed and complete information about real estate brokerage relationships is available in chapter 18.86 RCW.
If you have any questions about the information in this pamphlet, contact your broker or the designated broker of your broker’s firm.
Licensing and Supervision of Brokers
To provide real estate brokerage services in Washington, a broker must be licensed under chapter 18.85 RCW and licensed with a real estate firm, which also must be licensed. Each real estate firm has a designated broker who is responsible for supervising the brokers licensed with the firm. Some firms may have branch offices that are supervised by a branch manager and some firms may delegate certain supervisory duties to one or more managing brokers.
The Washington State Department of Licensing is responsible for enforcing all laws and rules relating to the conduct of real estate firms and brokers.
Agency Relationship
In an agency relationship, a broker is referred to as an “agent” and the seller/landlord and buyer/tenant are referred to as the “principal.” For simplicity, in this pamphlet, seller includes landlord, and buyer includes tenant.
For Sellers
A real estate firm and broker must enter into a written services agreement with a seller to establish an agency relationship. The firm will then appoint one or more brokers to be agents of the seller. The firm’s designated broker and any managing broker responsible for the supervision of those brokers are also agents of the seller.
For both Buyer and Seller - as a Limited Dual Agent
A limited dual agent provides limited representation to both the buyer and the seller in a transaction. Limited dual agency requires the consent of each principal in a written services agreement and may occur in two situations: (1) When the buyer and the seller are represented by the same broker, in which case the broker’s designated broker and any managing broker responsible for the supervision of that broker are also limited dual agents; and (2) when the buyer and the seller are represented by different brokers in the same firm, in which case each broker solely represents the principal the broker was appointed to represent, but the broker’s designated broker and any managing broker responsible for the supervision of those brokers are limited dual agents.
For Buyers
A real estate firm and broker(s) who perform real estate brokerage services for a buyer establish an agency relationship by performing those services. The firm’s designated broker and any managing broker responsible for the supervision of that broker are also agents of the buyer. A written services agreement between the buyer and the firm must be entered into before, or as soon as reasonably practical after, a broker begins rendering real estate brokerage services to the buyer.
Duration of Agency Relationship
Once established, an agency relationship continues until the earliest of the following:
1. Completion of performance by the broker;
2. Expiration of the term agreed upon by the parties;
3. Termination of the relationship by mutual agreement of the parties; or
A written services agreement between the firm and principal must contain the following:
1. The term (duration) of the agreement;
2. Name of the broker(s) appointed to act as an agent for the principal;
3. Whether the agency relationship is exclusive (which does not allow the principal to enter into an agency relationship with another firm during the term) or nonexclusive (which allows the principal to enter into an agency relationship with multiple firms at the same time);
4. Whether the principal consents to limited dual agency;
5. The terms of compensation;
6. In an agreement with a buyer, whether the broker agrees to show a property when there is no agreement or offer by any party or firm to pay compensation to the broker’s firm; and
7. Any other agreements between the parties.
A Broker’s Duties to the Buyer or Seller
A broker owes the following duties to their principal (either the buyer or seller):
1. To be loyal to their principal by taking no action that is adverse or detrimental to their principal’s interest in a transaction;
2. To timely disclose to their principal any conflicts of interest;
3. To advise their principal to seek expert advice on matters relating to the transaction that are beyond the broker’s expertise;
4. To not disclose any confidential information from or about their principal; and
5. To make a good faith and continuous effort to find a property for the buyer or to find a buyer for the seller’s property, until the principal has entered a contract for the purchase or sale of property or as agreed otherwise in writing.
A Broker’s Duties to All Parties
A broker owes the following duties to all parties in a transaction:
1. To exercise reasonable skill and care;
2. To deal honestly and in good faith;
3. To timely present all written offers, written notices, and other written communications to and from either party;
4. To disclose all existing material facts known by the broker and not apparent or readily ascertainable to a party. A material fact includes information that substantially adversely affects the value of the property or a party’s ability to perform its obligations in a transaction, or operates to materially impair or defeat the purpose of the transaction. However, a broker does not have any duty to investigate matters that the broker has not agreed to investigate;
5. To account in a timely manner for all money and property received from or on behalf of either party;
6. To provide this pamphlet to all parties to whom the broker renders real estate brokerage services and to any unrepresented party;
7. To disclose in writing who the broker represents; and
8. To disclose in writing any terms of compensation offered by a party or a real estate firm to a real estate firm representing another party.
Limited Dual Agent Duties
A limited dual agent may not advocate terms favorable to one principal to the detriment of the other principal. A broker, acting as a limited dual agent, owes the following duties to both the buyer and seller:
1. To take no action that is adverse or detrimental to either principal’s interest in a transaction;
2. To timely disclose to both principals any conflicts of interest;
3. To advise both principals to seek expert advice on matters relating to the transaction that are beyond the limited dual agent’s expertise;
4. To not disclose any confidential information from or about either principal; and
5. To make a good faith and continuous effort to find a property for the buyer and to find a buyer for the seller’s property, until the principals have entered a contract for the purchase or sale of property or as agreed otherwise in writing.
Compensation
In any real estate transaction, a firm’s compensation may be paid by the seller, the buyer, a third party, or by sharing the compensation between firms. To receive compensation from any party, a firm must have a written services agreement with the party the firm represents (or provide a “Compensation Disclosure” to the buyer in a transaction for commercial real estate).
A services agreement must contain the following regarding compensation:
1. The amount the principal agrees to compensate the firm for broker’s services as an agent or limited dual agent;
2. The principal’s consent, if any, and any terms of such consent, to compensation sharing between firms and parties; and
3. The principal’s consent, if any, and any terms of such consent, to compensation of the firm by more than one party.
Short Sales
A “short sale” is a transaction where the seller’s proceeds from the sale are insufficient to cover seller’s obligations at closing (e.g., the seller’s outstanding mortgage is greater than the sale price). If a sale is a short sale, the seller’s real estate firm must disclose to the seller that the decision by any beneficiary or mortgagee, to release its interest in the property for less than the amount the seller owes to allow the sale to proceed, does not automatically relieve the seller of the obligation to pay any debt or costs remaining at closing, including real estate firms’ compensation.
Interest rates on this type of mortgage are periodically adjusted up or down, depending on a specified financial index.
Annual percentage rate
Actual finance charge for a loan, including points and fees, in addition to the stated interest rate.
Appraisal
An expert opinion of the value or worth of a property.
Assessed value
The value placed on a property by a municipality for purposes of levying taxes. It may differ widely from appraised or market value.
Balloon payment
A large principal payment due all at once at the end of some loan terms.
Cap
A limit on how much the interest rate can change in an adjustable-rate mortgage.
Certificate of title
A document, signed by a title examiner, stating that a seller has an insurable title to the property.
Closing
The deed to a property is legally transferred from seller to buyer, and documents are recorded.
Closing costs
See “settlement.”
Commission
A fee (usually a percentage of the total transaction) paid to an agent or broker for services performed.
Comparative market analysis (CMA)
A survey of the attributes and selling process of comparable homes on the market or recently sold, used to help determine a correct pricing strategy for a seller’s property.
Contingency
A condition in a contract that must be met for the contract to be binding.
Contract
A binding legal agreement between two or more parties that outlines the conditions for the exchange of value (for example: money exchanged for title to a property).
Deed
A legal document that formally conveys ownership of a property from seller to buyer.
Down payment
A percentage of the purchase price that the buyer must pay in cash and may not borrow from the lender.
Equity
The value of the property actually owned by the homeowner: purchase price, plus appreciation, plus improvements, less mortgages and liens.
Escrow
A fund or account held by a third-party custodian until conditions of a contract are met.
Fixed-rate mortgage
Interest rates on this type of mortgage remain the same over the life of the loan. Compare to “adjustable-rate mortgage.”
Fixture
A recognizable entity (e.g. kitchen cabinets, draperies, light fixtures) that is permanently attached to a property and belongs to the property when it is sold.
Hazard insurance
Compensates for property damage from specified hazards such as fire and wind.
Interest
The cost of borrowing money, usually expressed as a percentage rate.
Lien
A security claim on a property until a debt is satisfied.
Listing contract
An agreement in which an owner engages a real estate company for a specified period of time to sell a property for which the agent receives a commission upon its sale.
Market price
The actual price at which a property sold.
Market value
The price that is established by present economic conditions, location, and general trends.
Mortgage
Security claim by a lender against a property until the debt is paid.
Multiple listing service (MLS)
A system that provides to its members detailed information about properties for sale.
Origination fee
An application fee(s) for processing a proposed mortgage loan.
PITI
Principal, interest, taxes, and insurance, forming the basis for monthly mortgage payments.
Point
One percent of the loan principal, which is charged in addition to interest and fees.
Prepayment penalty
A fee paid by a borrower who pays off the loan before it is due.
Principal
One of the parties to a contract or the amount of money borrowed for which interest is charged.
Prorate
Divide or assess proportionately.
Purchase-and-sale agreement
A contract between buyer and seller that outlines the details of the property transfer.
Settlement
All financial transactions required to make the contract final.
Title
A document that indicates ownership of a specific property.
Title search
Detailed examination of the entire document history of a property title to make sure there are no legal encumbrances.