Monday, March 26, 2012
All realtors® are not the same. While realtors® are committed to treat all parties to a transaction honestly, they have a fiduciary responsibility to the party they represent, i.e. buyer or seller. 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.
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®.
But if you're still not convinced of the value of a Realtor®, here are more reasons to use one:
1. Your Realtor® can help you determine your buying power.
2. Your Realtor® has many resources to assist you in the selection process by providing objective information about each property (local community information on utilities, zoning, schools, etc.).
3. Your Realtor® is skilled in negotiating. There are myriad negotiating factors, including but not limited to price, financing, terms, date of possession and often the inclusion or exclusion of repairs and furnishings or equipment.
4. Your Realtor® provides due diligence during the evaluation of the property. Depending on the area and property, this could include inspections for termites, dry rot, asbestos, faulty structure, roof condition, flooding, septic tank and well tests, just to name a few. Your REALTOR® can assist you in finding qualified responsible professionals to do most of these investigations and provide you with written reports.
Courtesy of NATIONAL ASSOCIATION OF REALTORS®
Broker Associate, CNE