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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