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Why Use a REALTOR? When Selling a Home?
A real estate agent can help: you understand everything you need to know about
the home selling process.
Not all real estate licensees are the same; only those who are members of the NATIONAL ASSOCIATION OF REALTORS? (NAR) are
properly called REALTORS?. They proudly display the REALTOR "?" trademark on their business cards and 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 reported that 84% of home buyers would
use the same REALTOR? again
Real estate transactions are one of the biggest financial dealings of most people's 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 certified
professional accountant? 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 wise to work with a professional
REALTOR? when you are selling a home.
If you're still not convinced of the value of a REALTOR?, here are more reasons to use one:
1. When selling your home,
your REALTOR? can give you up-to-date information on what
is happening in the marketplace as well as 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.
2. Your REALTOR? can recommend repairs or
cosmetic work that will significantly enhance the
salability of your property.
3. Your REALTOR?
markets your property to other real estate agents and the
public. In many markets across the country, over half 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, distributing
information about your property to other real estate
agents through a Multiple Listing Service (MLS) 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.
4. "Your REALTOR? will know when,
where and how to advertise your property. There is a
misconception that advertising sells real estate. NAR
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.
5. 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, and 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.
6. Your REALTOR? can help close the sale
of your home. Issues may
arise between the initial sales agreement and closing
(also called settlement or escrow), for example,
unexpected repairs might be required to obtain financing
or a title problem 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.