Why Use a REALTOR®?
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).