REALTORS / AGENT, is there a difference?
What’s the difference between REALTORS and AGENTS?
All real estate licensees are not the same and not all agents are REALTORS . Only those who are members of the NATIONAL ASSOCIATION OF REALTORS are called REALTORS. They are committed to treat all parties to a transaction honestly and are permitted to use the REALTOR logo. They subscribe to a strict code of ethics and are expected to maintain a higher level of knowledge.
* A REALTOR can help you determine your buying power – that is, your financial reserves plus your borrowing capacity. With some basic information they can refer you to lenders best qualified to help. It’s most beneficial for a buyer to visit with a qualified lender in order to know different financing options. Although mortgage calculators found online can be helpful, a buyer will receive the information needed after visiting with a qualified lender. When it’s time to write an offer this also gives a buyer comfort knowing affordability and budget.
* Since all real estate for sale isn’t advertised, REALTORS can often uncover properties the general public isn’t aware of. With access to a variety of resources information such as utilities, zoning and schools can remove much hassle for someone considering to purchase a property. These resources can also help determine what is being sold, in other words what should convey according to record.
* They can help negotiate price, financing, terms, date of possession, repairs, furnishings or equipment in the purchase agreement. It also provides a period of time for a buyer to complete inspections and investigations before being bound to complete the purchase. REALTORS can advise as to which investigations and inspections are required and those that are recommended. They can also assist in finding qualified professionals for these investigations and provide you with those written reports.
* Your REALTOR can provide current market information. If your considering selling a property, knowledge of other propertie similar to yours for sale, can help determine factors before marketing your home. In many markets across the country, over 50% of real estate sales are cooperative sales; that is, a real estate agent other than the agent that listed the property can bring in the buyer. Not all real estate companies or agents operate in this manner. When considering listing a property for sale, ask if other agents/offices outside of their company show their listings. The REALTOR Code of Ethics requires REALTORS to utilize these cooperative relationships when they benefit their clients.
* A REALTOR can help you objectively evaluate every buyer’s proposal without compromising your position when selling. This is only the beginning of a process of appraisals, inspections and financing – a lot of possible pitfalls.
* One of the final steps is closing on the sale of your home. Between the initial sales agreement and closing (or settlement), questions will arise. For example, unexpected repairs that are required for buyer financing or perhaps a cloud in the title may be discovered. The required paperwork alone can be overwhelming for most sellers.
Whether buying or selling, the above are only a few benefits of using a REALTOR. If you would like additional information please feel free to contact our office.