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Ever wonder why you should use a Realtor in the first
place? You could save so much money by just doing it yourself. Actually,
by using a professional real estate agent you will make sure you save
money, without the headaches, time commitments and hidden costs of trying
to sell or buy a home on your own. Let's face it, buying or selling a home
might well be the biggest investment decision you make in your life, so
you really want to get professional advice!
Here is the official response from Realtor.com and I wholeheartedly agree!
Why Use a REALTOR®?
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 "(R)" 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). |
