Why Work With A Realtor?
Text Provided by Terry Thompson & the National Association of Realtors
Did you know not all real estate practitioners are REALTORS®? The term REALTOR® has become a generic term for anyone who holds a real estate license. This is similar to the brand Kleenex® being used as the term for all facial tissues. The term REALTOR® is a registered collective membership mark that identifies a real estate professional who is a member of the National Association of REALTORS® and subscribes to a strict Code of Ethics.
Technology has provided the consumer the opportunity to do their homework prior to making a purchase and has impacted real estate much like it has other industries. Today’s consumers are utilizing online resources such as websites and mobile apps to preview and purchase everything from clothes to cars. Properties can be previewed online prior to Buyers visiting homes and Sellers can research what properties are selling for in their neighborhoods prior to listing their own property with a Realtor®. The For-Sale-By-Owner seller can now pay a fee to have their home marketed on a third party web site.
So where does the Realtor® fit in with these changing times? Some Realtors® like their clients to complete some research prior to contacting them to make the search process go faster. Some Realtors® find themselves spending more time educating their clients about how to price their homes accurately because of online resources that estimate a property’s value without taking into consideration all the facts.
Sometimes a Realtor® is called upon as a last resort to fix a situation much like when an “at home” hair color job has gone terribly wrong and the hair dresser is needed to fix it.
Here is why, despite all the conveniences of today’s modern technology utilizing a Realtor® is in the public’s best interest:
1. Navigate a complicated process. Buying or selling a home usually requires disclosure forms, inspection reports, mortgage documents, insurance policies, deeds, and multipage settlement statements. A knowledgeable expert will help you prepare the best deal, and avoid delays or costly mistakes.
2. Information and opinions. Realtors® can provide local community information on utilities, zoning and schools, and more. They’ll also be able to provide objective information about each property. A professional will be able to answer these two important questions: 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?
3. Help finding the best property out there. Sometimes the property you are seeking is available but not actively advertised in the market, and it will take some investigation by your Realtor® to find all available properties.
4. Negotiating skills. There are many negotiating factors, including but not limited to price, financing, terms, date of possession, and inclusion or exclusion of repairs, furnishings or equipment. In addition, the purchase agreement should provide a period of time for you to complete appropriate inspections and investigations of the property before you are bound to complete the purchase. Your agent can advise you as to which investigations and inspections are recommended or required.
5. Property marketing power. Real estate doesn’t sell due to advertising alone. A large share of sales comes as the result of the Realtor’s® contacts through previous clients, referrals, friends and family.
6. Someone who speaks the language. It’s important to work with someone who is immersed in the industry and knows the real estate language.
7. Experience. Most people buy and sell only a few homes in their lifetime, usually several years in between each purchase. Realtors® on the other hand, handle hundreds of transactions over the course of their careers.
8. Objective voice. A home often symbolizes family, rest, and security – it’s not just four walls and a roof. Because of this, home buying and selling can be an emotional undertaking. For most people, buying a home is the biggest purchase they’ll ever make. Having a concerned, but objective, third party helps you stay focused on both the emotional and financial issues most important to you.
Realtors® are the “Voice for Real Estate” and have existed since 1908 for the purpose of preserving the free enterprise system and the right to own real property. No matter what technology advances are in the future, Realtors® will remain an imperative part of a real estate transaction.