Home > Why Choose a REALTOR
Choose a REALTORŪ to Sell Your Home
Once you've decide to sell your home, finding a REALTORŪ is the next step in
the process. In making this important decision you should understand:
· Who is a REALTORŪ
· How to evaluate an agent
· What a REALTORŪ will do for you
· Selling on your own
If you’re not in a "must sell" situation (job transfer, career opportunity, family
upheaval, financial hardship), but rather in an "elective" one, you may want to
consider adding on to your current home (if you need more space) or refinancing
to lower monthly mortgage costs (if finances are a concern).
Who is a REALTORŪ?
The terms agent, broker and REALTORŪ are often used interchangeably, but
have very different meanings. For example, not all agents (also called
salespersons) or brokers are REALTORSŪ. Learn who is a REALTORŪ and the
reasons why you should use one. As a prerequisite to selling real estate, a
person must be licensed by the state in which they work, either as an
agent/salesperson or as a broker. Before a license is issued, minimum standards
for education, examinations and experience, which are determined on a state by
state basis, must be met.
After receiving a real estate license, most agents go on to join their local board or
association of REALTORSŪ and the NATIONAL ASSOCIATION OF
REALTORSŪ, the world's largest professional trade association. They can then
call themselves REALTORSŪ. The term "REALTORŪ" is a registered collective
membership mark that identifies a real estate professional who is a member of
the NATIONAL ASSOCIATION OF REALTORSŪ and subscribes to its strict
Code of Ethics (which in many cases goes beyond state law). In most areas, it is
the REALTORŪ who shares information on the homes they are marketing,
through a Multiple Listing Service (MLS). Working with a REALTORŪ who
belongs to an MLS will give you access to the greatest number of homes.
How to evaluate an agent
Without any obligation, you can invite local REALTORSŪ to visit your home and
give you a "listing presentation" about why they're the best ones to market it for
you. Two to three presentations will probably give you a good opportunity for
choice. A listing presentation includes having the REALTORŪ review with you
the reasons why you should list with that particular individual, and providing you
with information that will assist you in making initial decisions about selling your
home.
Recent laws in every state have defined the duties of someone specifically
retained as a real estate agent. Most states require a real estate agent to explain
his or her role at the outset of any conversation. A professional agent will
promptly provide this such a disclosure.
Look for an agent who:
· Is a member of the local board or association of REALTORSŪ
· Explains and discloses agency relationships (the role of the agent, i.e.,
who they are representing--the buyer or the seller) early on in the process,
at "serious first contact"
· Advises you on how to prepare your home for the market
· Shows some enthusiasm for your property, listens attentively, instills
confidence, operates in a professional manner, and has a complementary
personality style to yours
· Has already researched your property in the public records and the MLS
· Brings data on nearby homes that have sold (or failed to sell) recently
The following are important questions to ask a potential agent:
· Are you a REALTORŪ?
· Do you have an active real estate license in good standing. To find this
information, you can check with your state’s governing agency.
· Do you belong to the Multiple Listing Service (MLS) and/or a reliable
online home buyer’s search service? Multiple Listing Services are
cooperative information networks of REALTORSŪ that provide
descriptions of most of the houses for sale in a particular region.
· If there's no nearby MLS, how often do you cooperate with other local
brokers on a sale?
· What have you listed or sold in this neighborhood lately?
· Do you cooperate with buyers' brokers?
· What share of the commission will you offer a cooperating broker who
finds the buyer?
And in addition to the criteria mentioned above, there are number of very
important reasons you will typically prefer to work with a REALTORŪ. Among
them are the fact that they adhere to the NAR’s highest standards of ethical
conduct and professional training.
What a REALTORŪ will do for you
There are many important reasons to use a REALTORŪ. Some of the duties
your REALTORŪ will perform for you include:
· Walking through the process of selling your home from beginning to end
· Providing comparable information about the prices for which other
properties have sold and analyzing data for you to gain a true comparison
· Supplying information regarding local customs and regulations you may
want to consider
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