Are you looking to buy or sell a home? Have you realized that doing this takes much more work than you anticipated? In this post, we’ll look at what exactly a Realtor does and how you can benefit from one.
It takes a team of professionals when purchasing a home – the lender, the inspector, the property insurance agent, the title officer, and the real estate professional. The real estate professional has the most critical role when buying a home.
Your real estate professional can serve as a knowledgeable person who can put things in the proper order and ensure that no steps are missed. He or she can coordinate with other professionals, having the same goal of getting the home closed on time according to the agreed-upon terms in the sales contract.
A real estate agent will likely have the experience you need because that’s just part of the job. Your real estate professional understands what and when the various steps should be done and by whom. He or she can make a transaction go smoothly and also knows what can derail one.
What is a Realtor?
A Realtor is a federally registered, licensed real estate agent who is a member of the National Association of RealtorsⓇ (NAR) and who subscribes to its’ standards and its’ code of ethics. By being a member of NAR, the Realtor has access to real estate market data and transaction management services.
How can you benefit from a Realtor?
#1. They can save you money when buying or selling a home.
One study showed that homes sold by owners don’t actually save any money. Instead, homes sold without the use of a Realtor or real estate agent sold for 5.5% to 6% less than similar homes sold by Realtors using the MLS (Multiple Listing Service). We’ll discuss the MLS in more detail next.
A Realtor can make sure you get the most bang for your buck. They understand you have a budget, and they are very familiar with the pricing of homes. They know when a home is priced too high or too low. This means they can find you the best deals!
They can also assess the neighborhoods that potential homes are in and determine whether the pricing is fair for that area. A Realtor is familiar with how much home features are worth and how they will affect your budget in years to come.
Once they have helped you get approved for financing, understanding how much you can afford in monthly payments for a mortgage, they will know exactly which houses meet your search criteria and budgetary needs. Their experience in this area can prove to be quite beneficial.
#2. They have access to the MLS.
Realtors have access to the MLS (Multiple Listing Service). The MLS is a powerful search tool in the real estate industry. Realtors and real estate agents have access to thousands of homes using this database. In fact, you can rest assured when your real estate agent uses the MLS because it is the best way to advertise your home for sale or to find potential homes to buy.
You may be able to find homes for sale online, but you don’t have all the access that a Realtor does. Using the MLS, Realtors can search for homes that match your search criteria perfectly.
It also alerts real estate agents of open houses and new listings that meet what you are looking for. This tool is a great advantage, and a solid reason why hiring a professional to help you buy a home is an excellent idea.
#3. They have an established professional network.
Many real estate professionals are part of professional networking groups or know other real estate professionals through their organization. When working with a Realtor, you know that they can network in ways that you cannot.
Often, real estate professionals have met others in the industry when buying and/or selling homes, or they have met them at industry events or associations. They have professional connections and an inner network of other real estate agents that you just don’t have.
Experienced Realtors may also have established relationships with designers, contractors, and inspectors. This can be a great benefit because they already know qualified individuals who can help with purchasing a new home or selling your existing one.
When hiring a real estate agent, be sure to ask what associations he or she is a part of and how big their company is. This will give you a good idea of how connected they are, but remember that even novice Realtors have access to the MLS, which is also a huge plus!
#4. They have professional negotiating skills.
Many people don’t realize it, but Realtors are experienced negotiators and will fight for the best deal for you. Without a real estate agent, you may be forced to negotiate with other Realtors, homeowners, or buyers. This can be much more difficult than you anticipated.
While some people think a Realtor’s fees are excessive and think they can sell or buy their home on their own, others have found that the real estate agent’s fees are built into the price of the home they are trying to purchase, meaning they do not have to pay the Realtor. If you can save thousands on a home you wish to buy, wouldn’t it be worth it to hire a Realtor?
Realtors are skilled negotiators and will look at the home you wish to purchase from every angle. They can also negotiate on your behalf, saving you a lot of hassle and headaches. Realtors know common negotiation tactics, so you will find a smoother transaction in the end.
They will fight for you to help you achieve the greatest level of satisfaction with the home you are buying or selling. Isn’t having an advocate on your behalf a good enough reason to hire a professional? Achieve better results with a Realtor in your corner!
#5. They follow a strict code of ethics.
Because Realtors are part of the National Association of Realtors®, they are required to adhere to a specific code of ethics. This means that unless they wish to lose their membership with NAR, they will be following strict ethical guidelines.
Realtors hold themselves to high standards. They are guided by their principals, specific rules of conduct, and responsibilities. In fact, they prioritize their clients as they preserve the dignity and respect for the real estate profession. This should give you great peace of mind.
#6. They have the expertise and experience you need.
Realtors are very skilled individuals and have the expertise you need when buying or selling a home. Their expertise may include advertising, searching for the best homes to purchase, pricing homes for sale, knowing the value of a home, understanding building code, negotiating on your behalf, and writing and/or explaining binding real estate contracts.
#7. They can provide you with an objective point of view.
Searching for homes on your own can be quite overwhelming. For each home you see, you want to look at all the gorgeous images posted online.
This can be fun, but a Realtor can help you with the search for your home more objectively. They can quickly determine if a home has potential or not – faster than you can.
Realtors can do this more quickly because they don’t need to look at the images to know if a home meets your search criteria. They know how to search effectively and efficiently.
#8. They know the market.
Not only do Realtors know how to sell your home for you, but they also know how to advertise. They may place ads in the newspaper, magazine, online, or through other means. Plus, they can add your home listing to the MLS so other real estate professionals can find your home listing for their clients. Their advertising methods are at no cost to you, too.
Realtors also know what homes are worth, how much true value they have, and how much you should price your home for sale. They can help you find the best home for your budget!
#9. They can save you a lot of hassle.
Many Realtors go shopping for homes on your behalf. They can comingle with other real estate professionals to look at homes before they show them to you. Some Realtors spend most of their days ‘caravaning’ for homes that meet your search criteria.
Not only will they work on your behalf, but they will also help you get your home ready to sell. They know what will be expected during a home inspection, and they know how to sell a house effectively. When it’s time to sell, you can rest assured, knowing that the Realtor has your best interests in mind. They can help make your home look beautiful and appealing to potential buyers.
Also, when buying a house, Realtors know how to apply for mortgage loans, calculate interest rates, and get you mortgage payments that you can afford. They’ve been around the block and understand mortgage rates and the ins and outs of a home loan. Realtors can even help you afford closing costs.
#10. They take care of all the paperwork for you.
Unfortunately, when buying or selling a home, you have to deal with a lot of paperwork. A Realtor can effectively and efficiently keep it all in order. They are very good at staying organized.
They can help you with your contract, home offers, and appraisal documents. This can save you time and effort.
To Sum Things Up…
Since buying or selling a home is one of the most significant purchases you will probably make in your life, it’s a good idea to have a Realtor on your side. You can expect to save money and avoid consequential mistakes.
Take advantage of a Realtor’s extensive experience, vast real estate education, and years of practice when you buy or sell your home. You will be glad you did.
If you have any real estate needs or just want to take advantage of the many benefits you may find with a Realtor, please contact me.
You can reach me by telephone at 317-371-6002 or email me at suep@talktotucker.com.
