Many people believe that if they have the right algorithm, they will find the perfect property. Or that a transaction is as simple as what is shown on the reality TV home shows. Or that the iBuyer companies that tell you to “fill out some simple information and they will make you an immediate, free offer” is the way to go.
What most don’t realize is that strong negotiating skills, procedural knowledge, and relationships with service providers are required throughout a transaction to successfully maneuver the contract, the inspection period, the appraisal, the home warranty, insurance, utility set-up, etc. Clear and concise communications are a must between Agent and Client, not to mention Agent to Agent, Agent to Lender, Agent to Escrow Officer, and Agent to multiple other integral parties involved throughout the process.
All these aspects of expertise can save homebuyers or sellers thousands of dollars, or make them thousands of dollars, while ensuring that they are legally protected in all steps along the journey to a successful close.
You may not know the importance of hiring a REALTOR, as opposed to a Real Estate Agent. More than 2 million people nationwide have real estate licenses, but only those that are members National Association of Realtors, are entitled to use the term REALTOR®. NAR members must adhere to a strict code of ethics.
By joining NAR, licensed agents have access to a wide range of classes, seminars and certification opportunities. In essence, local REALTORS® are community experts. They track real estate trends, and stay current on changing real estate laws and requirements.
Here are some of the reasons that partnering with a dedicated, professional, full-time REALTOR® are so important:
1. Major money on the line – This might be one of, or the largest personal financial transaction of your life. Having a professional that you trust, to guide you through the potential minefields associated with such a big transaction is imperative.
2. Financial issues – Financing contingencies that include prepayment penalties, appraisals not meeting the sale price, repair negotiations, interest rate increases, inability to qualify and a host of other issues that can be managed by a REALTOR®.
3. Requirements and regulations – There are many government requirements and disclosures on the federal, state and local levels that can be overwhelming and costly if you don’t know about them.
These include foreign investment taxes, lead-based paint, flood zones, agency documentation, asbestos, radon, gas shutoffs, mold…and the list goes on.
4. Inspection problems – A home inspection can uncover maintenance issues and critical repairs that are considered safety and/or health hazards. Other service providers may also be needed to help define issues more thoroughly, including plumbers, electricians, roofers, etc. Once identified, your REALTOR® can help you navigate all of this information and define what repairs should be requested if any. This major step in the process can impact the success of the transaction.
5. Exposure and marketing – A REALTOR® well versed in how to thoroughly and successfully market your home is critical when selling. And a REALTOR® that is savvy and well networked can also be an advantage to a Buyer as this type of Agent will be privy to properties that are not even advertised.
REALTORs with strong relationships and affiliations that include lenders, title/escrow professionals, inspectors, home warranty companies and repair service providers are invaluable to Buyers and Sellers.
7. Dispute resolution
Almost every real estate transaction includes differences, disputes and required negotiations by a trained REALTOR®. In addition to coordinating these complex and numerous aspects of the sale, an agent can help get to a resolution.
At some point during the transaction, both parties usually believe that the deal won’t close. Yet, only 1 percent of real estate transactions result in litigation — due to the experienced REALTOR® who can get the deal closed for you.
Why should you choose Mary to help you sell or buy your home? Because of the way she defines herself as a REALTOR®. And, because she has undivided time and energy to dedicate to you.
Contact Mary today discuss how we can meet your goals, fulfill your dreams and paint your perfect picture.