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 $100,000. If you had a $100,000 income tax problem, would
you attempt to deal with it without the help of a certified
professional accountant? If you had 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 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.