Most buyers moving here from the east coast are surprised to learn that they do not have to involve an attorney in a real estate purchase. In fact, in Arizona, the majority of residential real estate transactions do not have any attorney involvement in either the contract preparation or the escrow process.
Maybe it’s remnants of the “Wild, Wild West”, but the Arizona Constitution authorizes brokers and salespersons to prepare any of the documents used in a real estate transaction.
If you are working with a REALTOR®, you most likely will use the Arizona Association of Realtors (AAR) standardized forms for a residential purchase or sale. These AAR forms have been developed, reviewed and (over the years) frequently updated and improved by attorneys.
However, you should also understand a licensed agent is not limited to using these forms and Article 26 to the Constitution states that licensed brokers and salespersons, “…shall have the right to draft or fill out and complete, without charge, any and all instruments incident thereto including, but not limited to, preliminary purchase agreements and earnest money receipts, deeds, mortgages, leases, assignments, releases, contracts for sale of realty, and bills of sale.”
An agent must exercise reasonable care in obtaining and communicating information that is material to the client’s interests and relevant to the contemplated transaction. Therefore, a Realtor in using reasonable care, should recommend that a client seek professional or technical advice when the matter is beyond the expertise of the agent.
The bottom line is: licensed real estate agents have the full capacity to carry you through your purchase or sale, but it’s up to you to interview the agent you plan to work with to determine if they are a fit for your specific real estate needs. The purchase or sale of real estate is much more than a personality contest and you need to feel comfortable that your agent knows the answers, or knows where to find them. If you don’t walk away from the interview in awe of an agent’s expertise and knowledge, you might want to move on and interview additional agents.
Contact me at 602-694-3200, or fill out the contact form below, if you would like to interview me for the job of helping you buy or sell a home in the Scottsdale area. I have 38 years of real estate experience, including 19 years in Scottsdale.
RE/MAX Fine Properties
21000 N. Pima Road, #100
Scottsdale, AZ 85255