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Why Use a REALTORŪ?
 
 What is a REALTORŪ?

First and foremost, not all real estate agents are REALTORSŪ. Notice that we use the term REALTORŪ throughout this website. The term REALTORŪ is a trademark of the National Association of REALTORSŪ (NAR) and any agent who uses this term as part of their professional identity must be a member of NAR and their State and Local REALTORŪ Associations.
 

You may be thinking, "So what!" This is important to you because REALTORSŪ subscribe to a Code of Ethics, which requires they conduct business honestly and fairly. Under the Rules and Ethics Code, you as a consumer are offered protection should you feel you have been treated unfairly. You may contact the Association Office to file an ethics complaint or learn more here. Members are required to go through the grievance process when a complaint is filed by either buyers or sellers.

Members pay dues and other fees to maintain membership, and must complete periodic training in addition to that required by the State Licensing Board. The bottom line is that REALTORSŪ are in a position to provide more comprehensive services than non-members. Non-members usually operate independently and their actions are not governed by the Code of Ethics. This is an important consideration when choosing an agent to represent your interests; because should you have a complaint against a non-REALTORŪ, you have no recourse at the local level.
 
 What does a REALTORŪ do?

A typical real estate transaction includes close to 200 actions or processes from your initial contact with a REALTORŪ to closing on a property. A REALTORŪ can help make sure that all the "I's" are dotted and the "T's" are crossed to ensure a successful transaction.
 
 Why use a REALTORŪ ?

If you are still not convinced of the value of a REALTORŪ, here are a dozen more reasons to use one:

1. Your REALTORŪ can help you determine your buying power-- that is, your financial reserves plus your borrowing capacity. If you give a REALTORŪ 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 REALTORŪ 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 REALTORŪ can assist you in the selection process by providing objective information about each property. Agents who are REALTORSŪ have access to a variety of informational resources. REALTORSŪ 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 REALTORŪ 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 REALTORŪ 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 REALTORŪ 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 REALTORŪ, title company or attorney can help you resolve issues that might cause problems at a later date.

6. Your REALTORŪ can help you in understanding different financing options and in identifying qualified lenders.

7. Your REALTORŪ can guide you through the closing process and make sure everything flows together smoothly.

8. When selling your home, your REALTORŪ 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 REALTORŪ marketss your property to other real estate agents and the public. Often, your REALTORŪ can recommend repairs or cosmetic work that will significantly enhance the salability of your property. Your REALTORŪ markets your property to other real estate agents and the public. In many markets across the country, over 50% of real estat sales are cooperative sales; that is, a real estate agent other than yours brings in the buyer. Your REALTORŪ 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 REALTORŪ Code of Ethics requires REALTORSŪ to utilize these cooperative relationships when they benefit their clients.

10. Your REALTORŪ will know when, where and how to advertise your property. There is a misconception that advertising sells real estate. The National Association of REALTORSŪ 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 REALTORŪ, you do not have to allow strangers into your home. Your REALTORŪ will generally prescreen and accompany qualified prospects through your property.

11. Your REALTORŪ can help you objectively evaluate every buyer's proposal without compomising your marketing position. This initial agreement is only the beginning of a process of appraisals, inspections and financing - a lot of possible pitfalls. Your REALTORŪ can help you write a legally binding, win-win agreement that will be more likely to make it through the process.

12. Your REALTORŪ 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 REALTORŪ is the best person to objectively help you resolve these issues and move the transaction to closing (or settlement).
 
 

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