Why choose a REALTOR® when buying or selling a home? 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.
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, radon, 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 understand different
financing options and identify 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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