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 $250,000.
If you had a $250,000 income tax problem, would you attempt to
deal with it without the help of a certified professional accountant?
If you had a $250,000 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:
- 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.
- 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 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.
- 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.
- 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.
- 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.
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