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.