Why you should use a REALTOR®

Did you know that only members belonging to the National Association of Realtors (NAR) can use the term REALTOR®?

Did you know that REALTORS® must adhere to a strict Code of Ethics and continually maintain and improve their skills and knowledge with continuing education and certification courses?

Your local REALTORS® are in essence, community experts.  We keep up-to-date on market trends, legislation that could affect the community and are in general, "good neighbors who are in the business of helping others buy and sell homes." (cited from Realtor.com)

There are many ways to choose a REALTOR®:

• Get recommendations from neighbors and friends.
• Look around your neighborhood for REALTOR® signs
• Look through classifieds and home for sale publications (real estate magazines)

Once you have narrowed down your choices, there will probably be a list of questions you might want to ask.  Some suggestions from Realtor.com are:

• What services do you offer?
• What type of representation do you provide? (There are various forms of representation in different states. Some brokers represent buyers, some represent sellers, some facilitate transactions as a neutral party, and in some cases different salespeople in a single firm may represent different parties within a transaction.)
• What experience do you have in my immediate area?
• How long are homes in this neighborhood typically on the market? (Be aware that because all homes are unique, some will sell faster than others. Several factors can impact the amount of time a home remains on the market, including changing interest rates and local economic trends.)
• How would you price my home? Ask about recent home sales and comparable properties currently on the market. If you speak with several REALTORS® and their price estimates differ, that's OK, but be sure to ask how their price opinions were determined and why they think your home would sell for a given value.
• How will you market my home? At listing presentations, brokers will provide a detailed summary of how they market homes, what marketing strategies have worked in the past and which marketing efforts may be effective for your home.
• What is your fee? Brokerage fees are established in the marketplace and not set by law or regulation. Typically, brokers who list homes are compensated on a performance basis - that is, the broker is not paid unless the home sells under the terms and conditions that are acceptable to you.
• What happens if another REALTOR® locates a purchaser? That is, who will that broker represent, and how will he or she be paid?
• What disclosures should you receive? State rules require brokers to provide extensive agency disclosure information, usually at the first sit-down meeting with an owner or buyer.
• How long do you want to list your home? A "listing" agreement is a contract that shows the broker's obligations and outlines the terms under which your home is being made available for sale. The length of the agreement is a negotiable matter.

Your REALTOR® should present you with a written marketing plan of action which tells you exactly what to expect so that everyone is clear.