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:
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. 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.
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. |