Why You Should Use a Realtor for Buying or Selling a Home
Buying or selling a home is often the largest transaction in a person’s life. While it appears that the worldwide web has all of the information you might need, there is so much more to buying and selling a home. The following reasons discuss why using a realtor is the best route to go.
1. A realtor has expertise
Real estate has its own language full of acronyms such as MLS, EIK and PDD, and a realtor is trained to speak the language. Also, there is a lot of paperwork involved in buying or selling, and their expertise can help you prepare the best deal for you while avoiding costly mistakes. They would know whether any information the other agent is requesting from you is reasonable.
Realtors also have access to more listings than your basic internet search, especially those homes that haven’t yet hit the market. Agents often hear of upcoming listings from other agents, or from potential sellers who are past clients. Unsure of whether or not a particular neighborhood is a good fit for you? The realtor will know the inside scoop, plus they will be able to fill you in on any covenants or restrictions of the neighborhood.
A realtor also can give you up-to-date information on price, financing, terms and conditions of homes in a particular area. This is especially important for the seller to determine a reasonable asking price.
Through the Multiple Listing Service (MLS), a realtor can expose your property to the public as well as other real estate agents. An agent can also coordinate and host open houses that draw in potential buyers and other agents. Many home sales occur when another agent brings in the buyer.
A realtor will also know when, where and how to advertise: which medium, format and frequency will work best for your home and your market. Interestingly, studies show that the majority of real estate sales are the result of agent contacts from previous clients, referrals, friends, family and personal contacts. Studies have indicated that for sale by owner (FSBO) properties grossed about 30% less for the sellers than agent-listed properties.
3. Realtors v. real estate agents
A realtor is a licensed real estate agent who belongs to the National Association of Realtors®. They are held to a higher ethical standard than licensed agents and must adhere to a Code of Ethics. They are also expected to maintain a higher level of knowledge of the process of buying and selling real estate. Your realtor has a fiduciary duty to you, which means they are legally obligated to put their client’s best interests first.
4. Better return for the seller
Even though the seller pays realtor commission, studies show a seller will make much more back on their home sale than without:
To learn more about the benefits of using a realtor to help you buy or sell a home, call TitlePlus today at (225) 709-3500.