and Ranch, Co.
are ten good reasons and many more why a real estate professional
can make an important difference when you are purchasing real estate
1. 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.
2. Realtors Lower Your Risk.
When you have a Realtor as an advocate,
you share some of the risk of home buying. 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. Incredibly, many states do not have laws
or regulatory bodies in place that protect all aspects of home buying.
Only 20 states currently license or certify home inspectors, for
example. Further, these and other professionals are only liable
in civil suits for the amount of their fees, not for any costs incurred
by the buyer for problems or repairs that were undetected before
the closing. If your agent suggests that you get a structural inspection,
do so for your own protection. She or he will know how an inspection
should be performed and will attend the inspection alongside you.
3. Realtors Work For You At Their
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. Some
agents will ask you to sign a buyer's representation agreement which
allows him or her to represent your interests. Be sure to ask what
the advantages are, and what your release options are. Interview
several agents before making your choice and compare their representation
styles. Make sure you understand how the agent you choose will work
with you, according to the laws and regulations of your state.
4. 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. Rising and falling
interest rates affect the number of available homes for sale and
their prices within weeks or days. All it takes is the entrance
or exit of a major employer, and hundreds of homes in a neighborhood
can be affected. 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.
5. 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. So are 70 percent of new
homebuilders and their products, according to NewHomeNetwork.com.
6. Realtors Have Up-to-the-minute Information.
Clever agents don't wait that long to find a home
for their buyers; they network. Your agent communicates will dozens
of individuals on a daily basis. They know what is coming up for
sale and are able put deals together. 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.
7. 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. If you
found out the neighbor next door to the house you are buying just
built a new fence, what does that mean? You won't have to replace
the fence on that side for a long time. To your agent, it means
something else. She or he will quickly get a survey ordered, to
assure that the new fence doesn't encroach on your new property.
8. Realtors Work For You...And The
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 day, you'll be glad your agent
talked you out of walking away because the seller wouldn't leave
9. Realtors Offer Flexible Services.
Realtors' services are somewhat negotiable. The more
risk you ask your agent to take, the higher the fees will be, so
the more your broker serves as your advocate, the more you can expect
to pay. New ideas are coming to the real estate industry, which
allow the consumer to pick and choose real estate services based
on what brokers offer in the marketplace. Some offer only full service
brokerage services. Others offer menu services and are paid accordingly.
If you want to save some money, be prepared to pay more up front
and shoulder some of the responsibilities yourself. Perhaps you
found the home you want on your own, and you only want an agent
to represent you on the contract and at closing. Some agents will
accommodate you, but keep in mind that their liability may only
be limited to the actual job performed.
10. Realtors Are Homeowner Advocates.
Do you like the idea of deducting your mortgage interest
from your income tax? Paying no capital gains when you sell your
home up to $250,000 if you are single and $500,000 if you are married?
If so, you can thank the only lobbying group in the nation that
looks out for the interests of homeowners - The National Association
of Realtors. Every year, the Realtor PAC perches on Capitol Hill
and swoops down on legislators who try to overturn these generous
government-sponsored homeowner benefits. The result is well worth
it. These initiatives keep housing more affordable, enabling more
buyers than ever before to move into a home of their own. Thanks
in part to Realtors, more than 67 percent of the population are
enjoying the benefits of owning a home.