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Seller References
Why Use a REALTOR®?
All real estate licensees are
not the same. Only real estate licensees who are members of the
NATIONAL ASSOCIATION OF REALTORS® are properly called REALTORS®.
They proudly display the REALTOR "®" logo on the business card
or 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 reports that 84%
of home buyers would use the same REALTOR® again.
Real estate transactions involve
one of the biggest financial investments most people experience
in their lifetime. Transactions today usually exceed $100,000.
If you had a $100,000 income tax problem, would you attempt to
deal with it without the help of a CPA? If you had a $100,000
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 foolish to consider a deal in real
estate without the professional assistance of a REALTOR®.
But if you're still not
convinced of the value of a REALTOR®, here are a dozen more
reasons to use one:
1. Your REALTOR® can help you
determine your buying power -- that is, your financial
reserves plus your borrowing capacity. If you give a REALTOR®
some basic information about your available savings, income and
current debt, he or she can refer you to lenders best qualified
to help you. Most lenders -- banks and mortgage companies --
offer limited choices.
2. Your REALTOR® has many
resources to assist you in your home search. Sometimes the
property you are seeking is available but not actively
advertised in the market, and it will take some investigation by
your agent to find all available properties.
3. Your REALTOR® can assist
you in the selection process by providing objective information
about each property. Agents who are REALTORS® have access to
a variety of informational resources. REALTORS® can provide
local community information on utilities, zoning. schools, etc.
There are two things you'll want to know. First, 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?
4. Your REALTOR® can help you
negotiate. There are myriad negotiating factors, including
but not limited to price, financing, terms, date of possession
and often the inclusion or exclusion of repairs and furnishings
or equipment. 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. Your REALTOR® provides due
diligence during the evaluation of the property. Depending
on the area and property, this could include inspections for
termites, dry rot, asbestos, faulty structure, roof condition,
septic tank and well tests, just to name a few. Your REALTOR®
can assist you in finding qualified responsible professionals to
do most of these investigations and provide you with written
reports. You will also want to see a preliminary report on the
title of the property. Title indicates ownership of property and
can be mired in confusing status of past owners or rights of
access. The title to most properties will have some limitations;
for example, easements (access rights) for utilities. Your
REALTOR®, title company or attorney can help you resolve issues
that might cause problems at a later date.
6. Your REALTOR® can help you
in understanding different financing options and in identifying
qualified lenders.
7. Your REALTOR® can guide
you through the closing process and make sure everything flows
together smoothly.
8. When selling your home,
your REALTOR® can give you up-to-date information on what is
happening in the marketplace and 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.
9. Your REALTOR® markets your
property to other real estate agents and the public. Often,
your REALTOR® can recommend repairs or cosmetic work that will
significantly enhance the salability of your property. Your
REALTOR® markets your property to other real estate agents and
the public. In many markets across the country, over 50% 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, disbursing information about your
property to other real estate agents through a Multiple Listing
Service 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.
10. Your REALTOR® will know
when, where and how to advertise your property. There is a
misconception that advertising sells real estate. The NATIONAL
ASSOCIATION OF REALTORS® 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.
11. 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 -- 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.
12. Your REALTOR® can help
close the sale of your home. Between the initial sales
agreement and closing (or settlement), questions may arise. For
example, unexpected repairs are required to obtain financing or
a cloud in the title 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 (or settlement).
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Copyright © 2008 Tomlinson Real
Estate