Why Use a
REALTOR® When Selling a Home?
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® 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.
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:
1. 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.
2. Often,
your REALTOR® can recommend repairs or
cosmetic work that will significantly enhance the salability of your property.
3. 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.
4. 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. Your REALTOR® will generally prescreen
and accompany qualified prospects through your property.
5. 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.
6. 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.