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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.
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
a dozen more reasons to use one:
1. Your
REALTOR® can help you determine your buying power
-- that is, your financial reserves plus your borrowing
capacity. If you give a REALTOR® some basic information
about your available savings, income and current debt, he
or she can refer you to lenders best qualified to help
you. Most lenders -- banks and mortgage companies -- offer
limited choices.
2. Your
REALTOR® has many resources to assist you in your home
search. Sometimes
the property you are seeking is available but not actively
advertised in the market, and it will take some
investigation by your agent to find all available
properties.
3. Your
REALTOR® can assist you in the selection process by
providing objective information about each property. Agents
who are REALTORS® have access to a variety of
informational resources. REALTORS® can provide local
community information on utilities, zoning. schools, etc.
There are two things you'll want to know. First, will the
property provide the environment I want for a home or
investment? Second, will the property have resale value
when I am ready to sell?
4. Your
REALTOR® can help you negotiate. 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. The purchase agreement should provide a period
of time for you to complete appropriate inspections and
investigations of the property before you are bound to
complete the purchase. Your agent can advise you as to
which investigations and inspections are recommended or
required.
5. 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, 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. You
will also want to see a preliminary report on the title of
the property. Title indicates ownership of property and
can be mired in confusing status of past owners or rights
of access. The title to most properties will have some
limitations; for example, easements (access rights) for
utilities. Your REALTOR®, title company or attorney can
help you resolve issues that might cause problems at a
later date.
6. Your
REALTOR® can help you in understanding different
financing options and in identifying qualified lenders.
7. Your
REALTOR® can guide you through the closing process and
make sure everything flows together smoothly.
8. When
selling your home, your 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.
9. Your
REALTOR® markets your property to other real estate
agents and the public. Often,
your REALTOR® can recommend repairs or cosmetic work that
will significantly enhance the salability of your
property. Your REALTOR® markets 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 REALTOR® 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.
10. Your
REALTOR® 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. When a property is marketed with the
help of your REALTOR®, you do not have to allow strangers
into your home. Your REALTOR® will generally prescreen
and accompany qualified prospects through your property.
11. Your
REALTOR® 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 REALTOR® can help you write a legally
binding, win-win agreement that will be more likely to
make it through the process.
12. Your
REALTOR® can help close the sale of your home. 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 REALTOR® is the best person to
objectively help you resolve these issues and move the
transaction to closing (or settlement).
My Hawaii real
estate site is not just about Hawaii real estate
listings - here you will find a wealth of useful Hawaii
real estate information for buyers and seller including
such topics as
How
To Stop Paying Rent and own your own home,
Nine
Deadly Sins To Avoid when buying a home,
Things
To Know when buying your first home,
5
Secrets to Buying the Best House for your money,
Top
10 Mistakes when financing real estate,
How
To Plan your next move,
How
to Get Top dollar for your home in any real estate
market,
Market-Smart
Improvements every seller should know,
How
to Avoid the 10 biggest homeselling mistakes,
How
to Make Money in real estate investing,
10
Important Tips to successful real estate investing, and other real
estate tips. If you're looking for Waikiki
vacation rental, click here to see Island
Colony condo.
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