 Why use a Realtor®?
The selling process generally begins
with a determination of a reasonable asking price. Your real estate
agent or 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.
Marketing
The next step is a marketing plan. Often, your agent can recommend
repairs or cosmetic work that will significantly enhance the
salability of the property. Marketing includes the exposure of 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 agent 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.
Advertising is part of marketing. The choice of media and frequency
of advertising depends a lot on the property and specific market.
For example, in some areas, newspaper advertising generates phone
calls to the real estate office but statistically has minimum
effectiveness in selling a specific property. Overexposure of a
property in any media may give a buyer the impression the property
is distressed or the seller is desperate. Your real estate agent
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.
 Security
When a property is marketed with an agent's help, you do not have to
allow strangers into your home. Agents will generally pre-screen and
accompany qualified prospects through your property.
Negotiating
The negotiation process deals with much the same issues for both
buyers and sellers, as noted above under the buying process. Your
agent 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 agent can help you
write a legally binding, win-win agreement that will be more likely
to make it through the process.
Monitoring, renegotiating and closing
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 agent is the
best person to objectively help you resolve these issues and move
the transaction to closing (or settlement).
Why use a REALTOR® to sell your home?
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.
You be the judge
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®!
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