Before buying or selling property, a real estate commission seems excessive. After the transaction, most people agree they would not do all the work of their agent for the fee paid.

A top-notch real estate agent must have knowledge in the following areas:

• Current market activity
• Marketing methods
• Mortgage resources
• Loan qualification requirements
• Appraisal data sources
• Legal rights & liabilities
• Tax ramifications
• Psychology of human relations
• Available inventory
• Negotiating skills
• Construction codes
• City inspection laws & codes
• Contractor, termite & engineering reports
• Title information:
  • liens, clouds, easements, encroachments, covenants, restrictions & conditions
• Surveys
• Consumer Laws:
  • Seller disclosure statements, Regulation "Z" requirements, imputed Tax Law, Seller Financing Disclosure, IRS Non-Resident Affidavit, Bonds and Assessments.
• Insurance:
  • Hazard, Flood, Earthquake, Tenant, Second Dwelling
• Problem solving and peace making: a buffer between principals