Northeast Indiana REALTORS®What is the difference between a realestate agent and a REALTOR®?
A real estate agent is a REALTOR® when he or she isa member of the NATIONAL ASSOCIATION OF REALTORS® (NAR), The Voice for Real Estate®-- the world's largest professional association. REALTORS® are pledged to a strictCode of Ethics and Standards of Practice.
Why should I use a REALTOR®?
All real estate licensees are not the same. Only real estate licensees who are members ofthe NATIONAL ASSOCIATION OF REALTORS® are properly called Realtors®.REALTORS® subscribe to a strict Code of Ethics and are expected to maintain a higher level of knowledgeof the process of buying and selling real estate.
An independent survey reports that 84% of home buyers would use the same REALTOR® again. Real estate transactionsinvolve one of the biggest financial investments most people experience in theirlifetime. Transactions today usually exceed $100,000. If you had a $100,000 incometax problem, would you attempt to deal with it without the help of a CPA? If youhad 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 foolishto consider a transaction in real estate without the professional assistance ofa REALTOR® .
Here are a dozen more reasons to use a REALTOR®:
- Your REALTOR® can help you determine your buying power.
- Your REALTOR® has many resources to assist youin your home search. Sometimes the property you are seeking is available but notactively advertised in the market, and it will take some investigation by your agentto find all available properties.
- 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.
- 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 repairsand furnishings or equipment.
- Your REALTOR® can assist you during the evaluationof the property. Depending on the area and property, this could include inspectionsfor termites, dry rot, asbestos, faulty structure, roof condition, septic tank andwell tests, just to name a few.
- Your REALTOR® can assist you in finding qualifiedresponsible professionals to do most of these investigations and provide you withwritten reports.
- Your REALTOR® can help you in understanding different financingoptions and in identifying qualified lenders.
- Your REALTOR® can guide you throughthe closing process and make sure everything flows together smoothly.
- When sellingyour home, your REALTOR® can give you up-to-date information on what is happeningin the marketplace and the price, financing, terms and condition of competing properties.
- Your REALTOR® markets your property to other real estate agents and the public.Often, your REALTOR® can recommend repairs or cosmetic work that will significantlyenhance the marketability of your property. Your REALTOR® markets your propertyto 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 agentother than yours brings in the buyer.
- Your REALTOR® acts as the marketing coordinator,disbursing information about your property to other real estate agents through aMultiple Listing Service or other cooperative marketing networks, open houses foragents, etc
- Your REALTOR® will know when, where and how to advertise your property.There is a misconception that advertising sells real estate. The NATIONAL ASSOCIATIONOF REALTORS® studies show that 82% of real estate sales are the result of agentcontacts through previous clients, referrals, friends, family and personal contacts.
- Your REALTOR® can help you objectively evaluate every buyer's proposal without compromisingyour marketing position. This initial agreement is only the beginning of a processof 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 likelyto make it through the process.
- 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 thetitle is discovered. The required paperwork alone is overwhelming for most sellers.
- Your REALTOR® is the best person to objectively help you resolve these issues andmove the transaction to closing (or settlement).