Why Use a REALTOR® When Selling
A real estate
agent can help you understand everything you need to know about
the selling process.
The selling process generally begins with a determination
of a reasonable asking price. Your real estate agent or REALTOR®
can give you up-to-date information on what is happening in the
marketplace and the price, financing, terms and condition of competing
properties. These are key factors in getting your property sold
at the best price, quickly and with minimum hassle.
Marketing
The next step is a marketing plan. Often, your agent can recommend
repairs or cosmetic work that will significantly enhance the salability
of the property. Marketing includes the exposure of your property
to other real estate agents and the public. In many markets across
the country, over 50% of real estate sales are cooperative sales;
that is, a real estate agent other than yours brings in the buyer.
Your agent acts as the marketing coordinator, disbursing information
about your property to other real estate agents through a Multiple
Listing Service or other cooperative marketing networks, open
houses for agents, etc. The REALTOR® Code of Ethics requires
REALTORS® to utilize these cooperative relationships when
they benefit their clients.
Advertising
is part of marketing. The choice of media and frequency of advertising
depends a lot on the property and specific market. For example,
in some areas, newspaper advertising generates phone calls to
the real estate office but statistically has minimum effectiveness
in selling a specific property. Overexposure of a property in
any media may give a buyer the impression the property is distressed
or the seller is desperate. Your real estate agent will know when,
where and how to advertise your property. There is a misconception
that advertising sells real estate. The NATIONAL ASSOCIATION OF
REALTORS® studies show that 82% of real estate sales are the
result of agent contacts through previous clients, referrals,
friends, family and personal contacts.
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Security
When a property is marketed with an agent's help, you do not have
to allow strangers into your home. Agents will generally pre-screen
and accompany qualified prospects through your property.
Negotiating
The negotiation process deals with much the same issues for both
buyers and sellers, as noted above under the buying process. Your
agent can help you objectively evaluate every buyer's proposal
without compromising your marketing position. This initial agreement
is only the beginning of a process of appraisals, inspections
and financing -- a lot of possible pitfalls. Your agent can help
you write a legally binding, win-win agreement that will be more
likely to make it through the process.
Monitoring,
renegotiating and closing
Between the initial sales agreement and closing (or settlement),
questions may arise. For example, unexpected repairs are required
to obtain financing or a cloud in the title is discovered. The
required paperwork alone is overwhelming for most sellers. Your
agent is the best person to objectively help you resolve these
issues and move the transaction to closing (or settlement).
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Why
use a REALTOR®?
All real estate licensees are not the same. Only real estate licensees
who are members of the NATIONAL ASSOCIATION OF REALTORS® are
properly called REALTORS®. They proudly display the REALTOR
"®" logo on the business card or other marketing
and sales literature. REALTORS® are committed to treat all
parties to a transaction honestly. REALTORS® subscribe to
a strict code of ethics and are expected to maintain a higher
level of knowledge of the process of buying and selling real estate.
An independent survey reports that 84% of home buyers would use
the same REALTOR® again.
You
be the judge
Real estate transactions involve one of the biggest financial
investments most people experience in their lifetime. Transactions
today usually exceed $100,000. If you had a $100,000 income tax
problem, would you attempt to deal with it without the help of
a CPA? If you had a $100,000 legal question, would you deal with
it without the help of an attorney? Considering the small upside
cost and the large downside risk, it would be foolish to consider
a deal in real estate without the professional assistance of a
REALTOR®!
Source:by Ron Schmeadick, CRB, is Co-Owner and Associate
Broker at Realty Executives, Eugene, Oregon.
More
articles:
Tax implications of selling a home
What
a REALTORŪ can do for you
Choose
a REALTOR® to sell your home
About
ManaDeva & Land karma
About
The Sonoran Desert Of Southern Arizona
Call
ManaDeva directly at 520.404.3635
Mana@ManaDeva.com
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