| All real estate licensees are not the same. Only real estate
licensees who are members of the NATIONAL ASSOCIATION OF REALTORS® are
properly called REALTORS®. They proudly display the REALTOR "®" logo
on the business card or other marketing and sales literature.
REALTORS® are committed to treat all parties to a transaction
honestly. REALTORS® subscribe to a strict code of ethics
and are expected to maintain a higher level of knowledge of the
process of buying and selling real estate. An independent survey
reports that 84% of home buyers would use the same REALTOR® again.
Real estate transactions involve one of the biggest
financial investments most people experience in their lifetime. Transactions
today usually exceed $100,000. If you had a $100,000 income
tax problem, would you attempt to deal with it without the
help of a CPA? If you had a $100,000 legal question, would
you deal with it without the help of an attorney? Considering
the small upside cost and the large downside risk, it would
be foolish to consider a deal in real estate without the professional
assistance of a REALTOR®.
But if you're still not convinced of the value of a REALTOR®,
here are a dozen more reasons to use one:
1. Your REALTOR® can help you determine your buying power -- that is, your financial reserves plus your borrowing capacity.
If you give a REALTOR® some basic information about your
available savings, income and current debt, he or she can refer
you to lenders best qualified to help you. Most lenders --
banks and mortgage companies -- offer limited choices.
2. Your REALTOR® has many resources to assist you in your
home search. Sometimes the property you are seeking is available
but not actively advertised in the market, and it will take
some investigation by your agent to find all available properties.
3. Your REALTOR® can assist you in the selection process
by providing objective information about each property. Agents
who are REALTORS® have access to a variety of informational
resources. REALTORS® can provide local community information
on utilities, zoning. schools, etc. There are two things you'll
want to know. First, will the property provide the environment
I want for a home or investment? Second, will the property
have resale value when I am ready to sell?
4. Your REALTOR® can help you negotiate. There are myriad
negotiating factors, including but not limited to price, financing,
terms, date of possession and often the inclusion or exclusion
of repairs and furnishings or equipment. The purchase agreement
should provide a period of time for you to complete appropriate
inspections and investigations of the property before you are
bound to complete the purchase. Your agent can advise you as
to which investigations and inspections are recommended or
required.
5. Your REALTOR® provides due diligence during the evaluation
of the property. Depending on the area and property, this could
include inspections for termites, dry rot, asbestos, faulty
structure, roof condition, septic tank and well tests, just
to name a few. Your REALTOR® can assist you in finding
qualified responsible professionals to do most of these investigations
and provide you with written reports. You will also want to
see a preliminary report on the title of the property. Title
indicates ownership of property and can be mired in confusing
status of past owners or rights of access. The title to most
properties will have some limitations; for example, easements
(access rights) for utilities. Your REALTOR®, title company
or attorney can help you resolve issues that might cause problems
at a later date.
6. Your REALTOR® can help you in understanding
different financing options and in identifying qualified
lenders.
7. Your REALTOR® can guide you through the closing
process and make sure everything flows together smoothly.
8. When selling your home, your REALTOR® can give you
up-to-date information on what is happening in the marketplace
and the price, financing, terms and condition of competing
properties. These are key factors in getting your property
sold at the best price, quickly and with minimum hassle.
9. Your REALTOR® markets your property to other real estate
agents and the public. Often, your REALTOR® can recommend
repairs or cosmetic work that will significantly enhance the
salability of your property. Your REALTOR® markets your
property to other real estate agents and the public. In many
markets across the country, over 50% of real estate sales are
cooperative sales; that is, a real estate agent other than
yours brings in the buyer. Your REALTOR® acts as the marketing
coordinator, disbursing information about your property to
other real estate agents through a Multiple Listing Service
or other cooperative marketing networks, open houses for agents,
etc. The REALTOR® Code of Ethics requires REALTORS® to
utilize these cooperative relationships when they benefit their
clients.
10. Your REALTOR® will know when, where and how to advertise
your property. There is a misconception that advertising sells
real estate. The NATIONAL ASSOCIATION OF REALTORS® studies
show that 82% of real estate sales are the result of agent
contacts through previous clients, referrals, friends, family
and personal contacts. When a property is marketed with the
help of your REALTOR®, you do not have to allow strangers
into your home. Your REALTOR® will generally prescreen
and accompany qualified prospects through your property.
11. Your REALTOR® can help you objectively evaluate every
buyer's proposal without compromising your marketing position. This initial agreement is only the beginning of a process of
appraisals, inspections and financing -- a lot of possible
pitfalls. Your REALTOR® can help you write a legally binding,
win-win agreement that will be more likely to make it through
the process.
12. Your REALTOR® can help close the sale of your home. Between the initial sales agreement and closing (or settlement),
questions may arise. For example, unexpected repairs are required
to obtain financing or a cloud in the title is discovered.
The required paperwork alone is overwhelming for most sellers.
Your REALTOR® is the best person to objectively help you
resolve these issues and move the transaction to closing (or
settlement).
From Realtor.com
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