- Who We Are
- REALTOR® Member Services
The most important purchase you will ever make
Would you give yourself stitches? Represent yourself in court? Life is full of important decisions and pivotal moments that demand professional expertise. A REALTOR® has access to many resources and experience interpreting data that will help you make the best choices throughout the home buying process.
7 Reasons You Should Always Use a REALTOR® to Buy Your Home
- Your REALTOR® can help you determine your buying power — that is, your financial reserves plus your borrowing capacity and can assist you in obtaining a lender prequalification letter. 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 suit your needs. Most lenders offer several options.
- 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.
- 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?
- Your REALTOR® can help you negotiate. There are many negotiating factors, including but not limited to price, financing, terms, date of possession and often the inclusion or exclusion of repairs and furnishings, appliances or other equipment. The purchase agreement should provide a period of time for you to complete appropriate inspections and investigations of the property, before you are required to complete the purchase. Your agent can advise you regarding inspections that are recommended or required, then assist you in the negotiation of favorable terms.
- Your REALTOR® provides due diligence during the evaluation of the property. Depending on the area and property, this could include inspections for termites, dry rot, 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 inspections 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 to most properties will have some limitations; for example, easements (access rights) for utilities. Your REALTOR® can facilitate discussions with a title company or attorney to help you resolve issues that might cause problems at a later date.
- Your REALTOR® can help you understand different financing options and identify qualified lenders.
- Your REALTOR® can guide you through the closing process, keeping you on track and organized to make sure everything flows together smoothly.
How can a REALTOR® help you sell your home?
According to a study conducted by the National Association of REALTORS®, the median sale price of a home sold by its owner was $185,000 in 2016. An agent-assisted home sold at a median price of $245,000 – A staggering difference of $60,000.
5 Reasons You Should Always Use a REALTOR® to Sell Your Home
- 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 minimal hassle.
- Your REALTOR® markets your property to other real estate agents and the public. Your REALTOR® can recommend repairs or cosmetic work that will enhance the salability of your property. 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.
- 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 add a buffer between yourself and the strangers coming into your home. A REALTOR® will pre-screen prospective purchasers to qualify them and generally will accompany 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 — many 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. 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 help you resolve these issues and move the transaction to closing (or settlement).
Before you decide to take on the challenges of buying or selling your home on your own, sit with a REALTOR® and see what they have to offer.