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).
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