What is a REALTOR®?
Realtors are licensed real estate agents who are members of the National Association of Realtors®, the largest trade group in the country. Every real estate agent is not a Realtor, but most are. If you’re unsure, you can ask your agent if they are a licensed Realtor.
What is a REALTOR®?
Realtors are licensed real estate agents who are members of the National Association of Realtors®, the largest trade group in the country. Every real estate agent is not a Realtor, but most are. If you’re unsure, you can ask your agent if they are a licensed Realtor.
All real estate licensees are not the same. Only real estate licensees 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 treating all parties to a transaction honestly.
Why should you work with a REALTOR®?
Here are a dozen reasons to work with a REALTOR®:
- Your REALTOR® can help you determine your buying power – your financial reserves plus your borrowing capacity. If you give a REALTOR® some basic information about your available savings, income, and current debt, they can refer you to lenders best qualified to help you. Most lenders – banks and mortgage companies – offer limited choices.
- Your REALTOR® has many resources to assist you in your home search. However, sometimes the property you seek is available but not actively advertised in the market, and it will take some investigation by your agent to find all available properties.
- Your REALTOR® can assist you in selecting by providing objective information about each property. Agents who are REALTORS® have access to a variety of informational resources. For example, 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 a resale value when I am ready to sell?
- 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. In addition, the purchase agreement should provide a period for you to complete appropriate inspections and investigations of the property before you are bound to complete the purchase. Your agent can advise you which investigations and inspections are recommended or required.
- 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, 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 a preliminary report on the property’s title. Title indicates property ownership and can be mired in confusing the status of past owners or rights of access. In addition, the title to most properties will have some limitations, for example, easements (access rights) for utilities. Again, your REALTOR®, title company, or attorney can help you resolve issues that might cause problems later.
- Your REALTOR® can help you understand different financing options and identify qualified lenders.
- Your REALTOR® can guide you through the closing process and make sure everything flows smoothly.
