What is a REALTOR®?
All real estate professionals are not created equal. The NATIONAL ASSOCIATION OF REALTORS® estimates that over 2 million people hold real estate licenses in the United States, but only about 1 million of them have earned the REALTOR® distinction. Through membership in their national, state and local REALTOR® associations, REALTORS® gain numerous opportunities to enhance their educational and professional development. They also are required to adhere to a strict Code of Ethics.
Why Use a REALTOR®?
Selling a home is a complex process involving what's likely to be your most prized financial asset. Enacting a smooth transaction for your home's full value requires the expertise of a REALTOR® whose extensive training has prepared him or her to generate the best possible results on your behalf. Just like you shouldn't treat a broken leg without a doctor or handle a major legal dispute without an attorney, it's unwise to sell your home without the professional assistance of a REALTOR®.
Naturally, every seller wants to reap the highest return from the sale. It's tempting to sell the home on your own, thereby saving the REALTOR®'s fees. However, a study conducted by the NATIONAL ASSOCIATION OF REALTORS® found that 82 percent of real estate sales result from REALTORS® contacts with previous clients, referrals and other sources. Additionally, NAR concluded that most homes sell for 3 to 9.5 percent more when sold through a REALTOR®.
Selling your home with a REALTOR® yields abundant advantages, including the following:
- REALTORS® have access to Multiple Listing Services (MLS) to disburse information about your property to thousands of consumers via their REALTORS®. They also have other marketing vehicles at their disposal, such as open houses and referral networks. Through your REALTOR®'s marketing efforts, a much broader range of qualified buyers will be informed of your property's availability. As a seasoned pro at negotiation skills and tactics, your REALTOR® can maintain objectivity in assessing buyers' proposals and developing offers and counteroffers. Throughout the transaction, including appraisals, inspections and legally binding agreements, you can depend on your REALTOR®'s know-how to avoid any pitfalls. Sales transactions comprise intricate legal and regulatory requirements. REALTORS® are familiar with the regulations and can help you understand and adhere to them.
- REALTORS® work with their clients to address home improvements and tips that will enhance the home's salability.
- REALTORS® offer extensive, professional sales training.