For Professional Assistance - Why
Use a REALTOR®
real estate licensees are not the same. Only real estate licensees
who are members of the NATIONAL ASSOCIATION OF REALTORS® are
called REALTORS®. They proudly display the REALTOR "®"
logo on the business card or other marketing and sales literature.
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.
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®.
if you're still not convinced of the value of a REALTOR®, here are a
dozen more reasons to use one:
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.
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
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?
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.
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.
Your REALTOR® can help you in understanding different financing
options and in identifying qualified lenders.
Your REALTOR® can guide you through the closing process and make
sure everything flows together smoothly.
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.
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.
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.
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.
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).