Real estate transactions involve one of the largest financial investments people will ever encounter, typically exceeding $100,000 today. If you had a legal or tax issue that large, would you not consult the right professional for the job? Using a realtor is simply a wise choice- but not all realtors are the same. Only members of the National Association of REALTORS® are properly titled REALTORS® (you will notice this logo on their marketing materials). These agents are expected to maintain a higher level of knowledge and ethical behaviors. Most second-time home buyers say they would use the same REALTOR® again.
12 Reasons to Use a REALTOR®
- Your REALTOR® can help you determine your buying power: your financial reserves plus your borrowing capacity. By giving a REALTOR® your basic information (savings, income, debt), he or she can refer you to possible lenders.
- Your REALTOR® has many resources to assist you in your home search. Often, your ideal home may be available but not actively advertised.
- Your REALTOR® can provide objective information about each property– including utility, zoning, school, and community information. They can also help you determine resale value for the future.
- Your REALTOR® can help you negotiate factors such as price, financing, terms, date of possession, inclusion or exclusion repairs, furnishings, etc. Agents can offer advice on investigations and inspections prior to your move.
- REALTORS® provide due diligence during the evaluation of a property. This could include inspections for things such as termites or septic tanks. Your realtor can find qualified professionals and provide you with written reports, as well as inform you on the status of the property’s title in most cases.
- Your REALTOR® can help you understand financing options and find qualified lenders.
- Your REALTOR® can guide you through the closing process, ensuring everything flows as smoothly as possible.
- When selling your home, REALTOR® can give you current information on what is happening in the marketplace, including the price, financing, terms, and condition of competing properties. These factors are key in selling quickly and profitably.
- Your REALTOR® markets your property to other agents and the public. They often recommend repairs or cosmetic work that can significantly enhance your home’s salability. In many markets across the country, 50% of sales are cooperative sales. Your REALTOR® acts as a coordinator, providing information to other agents through networks such as a Multiple Listing Service or open houses. The REALTOR® Code of Ethics requires REALTORS® to utilize these cooperative relationships when they benefit their clients.
- Your REALTOR® knows when, where, and how to advertise your property. 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 using a REALTOR®, your agent will generally prescreen and accompany qualified prospects, so you do not have to allow strangers into your home.
- Your REALTOR® can help you objectively evaluate buyers’ proposals without compromising your marketing position. This is only the beginning of a process of appraisals, inspections, and financing, with many possible pitfalls involved. Your REALTOR® can help you write legally binding, win-win agreements to help the process run smoothly.
- Your REALTOR® can help close the sale of your home. Between the initial sales agreement and closing, questions about repairs, financing, titles, and paperwork may arise. Your REALTOR® can objectively help you resolve issues and move transactions along to settlement.