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Excel Realty
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(615) 256-6566
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Why
Use a Realtor?
provided
by Realtor.com
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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