Why Work With A REALTOR®
The purchase of a home is one of the most complex, high-risk, and expensive transactions most people will ever go through, yet approximately 30-40 percent of home buyers go to the closing table without a representative or advocate on their side. This startling research performed in separate studies by the National Association of REALTORS® and the National Association of Exclusive Buyer’s Agents, shows that many buyers do not understand the importance of having an advocate.
Without someone representing their interests, how will these buyers ever know if they found the right home at the right price?
Are you an un-represented buyer? Like half of all home buyers in the nation, according to REALTOR.com you may be searching the Internet for information to save you time and money, including shopping for loans and other services. Yet, you may not be using the one tool that can help you get into the home of your choice at the price you want to pay – a REALTOR®.
Why should you hire a REALTOR®? There are eight good reasons why a real estate professional can make an important difference when you buy a home:
- REALTORS® Are Real Estate Specialists.
Realtor is commonly used as a generic word for real estate broker or agent, but only a member of the National Association of REALTORS® can be called a REALTOR®. The association provides advanced educational opportunities to its members, enabling them to offer accredited sub-specialties such as buyer’s representation (ABR), residential real estate expertise (CRS), or Internet readiness (e-pro) to the public.
- REALTORS® Lower Your Risk.
When you have a REALTOR® as an advocate, you share some of the risk of home buying. Otherwise, it’s buyer beware. You are paying the agent to assist you, advise you, and help you navigate the transaction legally and safely. Your agent will make sure you take appropriate steps to protect yourself.
- REALTORS® Work For You At Their Own Risk.
It is hard to name any other profession whose members work on a contingency basis. Even attorneys charge by the hour except for some high-risk lawsuits. You don’t typically pay for any services up front with an agent. That means your agent incurs the costs of doing business on your behalf until you find and close your home. Therefore, it’s in your agent’s best interest to work quickly, diligently, and use all his or her resources to help you meet your goals.
- REALTORS® Understand The Current Market.
Real estate professionals have house-by-house, street-by-street, and market-by-market experience. Their experience is invaluable and can’t be learned overnight. Realtors who have weathered the pendulum swing between buyers’ markets and sellers’ markets know that the real estate market can turn abruptly. As neighborhood experts, experienced brokers and agents can help you with home buying strategies and proposals that will get the price and terms you want.
- REALTORS® Have Inventory.
Do you want to find a home quickly? With a REALTOR® by your side, you will. According to The National Association of Realtors, over four-fifths of existing homes in the United States are represented by real estate brokers. REALTORS® cooperate with each other through an organization called the Multiple Listing Service (MLS). The MLS has the current broker-represented properties for sale in its database.
- REALTORS® Have the Latest Information.
MLS data entry can take from one to 10 days, depending on the listing agent, his or her broker, and the MLS. By the time the home is posted on the Internet, it could already be sold. Clever agents don’t wait that long to find a home for their buyers; they network with each other. Your agent will tell other agents about you and your wish list in exchange for information about upcoming homes for sale. That’s how many homes are bought and sold in a hot seller’s market, without a sign ever going into the yard. If you want to be the buyer positioned to make first and best offers on these homes, hire an agent.
- REALTORS® Understand The Complexity Of The Transaction.
Less than a decade ago, a home could be bought with a two-page contract. Now consumer-mandated seller’s disclosures, environmental and structural reports, and other liabilities have turned the home transfer into a complicated minefield. REALTORS® work with contracts daily, and can fully understand which points are harmful and beneficial to you. From helping you make a reasonable offer, to providing for the discovery and disclosure of material facts, your agent can also interpret information for you.
- REALTORS® Work For You…And The Transaction.
Your agent not only represents your interests but also works on behalf of the transaction. Does that seem like a conflict of interest? It isn’t. Buyers and sellers are natural adversaries. You want to buy for the least price, and the seller wants the best price. Agents must be skilled negotiators to keep bargaining chips from turning into deal-breakers. As the buyer, remember that you are the one in control. You can instruct your agent how far to go in negotiations on your behalf.
One of the greatest endorsements you have for using the services of a REALTOR® is from your lender. Lenders are willing to finance agent commissions for buyers in the mortgage loan. That should tell you how important it is that you get proper representation.
Many lenders agree you may get a better price for your home and better terms by having an advocate. Put a REALTOR® to work for you today.
You’ll soon be in the home of your dreams!
Let us find the home that’s right for you!
Contact one of our real estate agents today. They know the neighborhood.