Why Use a REALTOR®
Isn’t Everyone Who Sells Real Estate a REALTOR®?
REALTORS® are members of the National Association of REALTORS® who are bound by a Code of Ethics while helping you navigate one of the most complicated and important transactions you’ll make in your lifetime.
Ethics, Expertise and Education – the REALTOR® difference at work for you.
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. The 2021 Profile of Home Buyers and Sellers reports 90% of buyers would use their agent again or recommend their agent to others.
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®.
Given the complexity of the transaction, the dollars involved, the law which govern the transfer of real estate and the training needed to understand all of these issues, you’ll want to be prudent in deciding which professional you’ll want to help you.
Any broker can help you buy or sell a home, but only a REALTOR® can do this.
1. To help you determine your home buying power
Buying power 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 real estate lenders best qualified to help you. Most lenders—banks and mortgage companies—offer limited choices.
2. Provide resources to assist you in your home search.
Sometimes the property you are seeking is available but not actively advertised in the market. Your REALTOR® has resources and connections to find all available properties.
3. Assistance in the selection process.
REALTORS provide objective information about each property. Brokers who are REALTORS® have access to a variety of informational resources to give you community information on utilities, zoning, schools, etc.
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. Your REALTOR® can help you understand options and negotiate for your best interests.
5. Provide due diligence during the evaluation of the property.
Depending on the location 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 help you find qualified, responsible professionals who will do most of these investigations and provide you with written reports.
6. Help you understand your home budget.
Your REALTOR® can help you in understanding different home financing options and in identifying qualified lenders. Your REALTOR® can provide further guidance and refer reliable lenders.
7. Simplify your Closing.
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.
REALTORS® have access to the most current housing market trends and data on what is happening in the marketplace and the price, home financing, terms and condition of competing properties.
9. Marketing your property to other real estate agents and the public.
Your REALTOR® is serving as the marketing coordinator, disbursing information about your property to other real estate brokers through a Multiple Listing Service or other cooperative marketing networks, open houses for brokers, etc. The REALTOR® Code of Ethics requires REALTORS® to utilize these cooperative relationships when they benefit their clients.
10. How to advertise your property.
There is a misconception that advertising sells real estate. Studies from the National Association of REALTORS® show that 84% of real estate sales are the result of agent contacts through previous clients, referrals, friends, family, and personal contacts.
11. Help you objectively evaluate every buyer’s proposal.
Home sellers need to review home offers without compromising your marketing position. This initial agreement is only the beginning of a process of appraisals, inspections, and financing. 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. Your REALTOR® is the best person to objectively help you resolve these issues and move the transaction to closing (or settlement).