How can a REALTOR help?
Can a REALTOR really help me in buying and selling property?
The answer is YES!
When you're ready to think about buying or selling your property, you need to ask yourself the following questions: Do you have the time, energy, sources of information, and contacts to do the job yourself? If you were one of the 'do-it-your-self' people, would the results be as good or better than they would be if you had professional assistance? Would it have gone smoother? Would it have given you more personal time? Would you have purchased for less, or sold for more, if a REALTOR was involved? Read the following information and learn how a REALTOR can help you understand everything you need to know about a real estate transaction.
This process generally begins with a determination of a reasonable asking price. 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.
The next step is a marketing plan. Often, your REALTOR can recommend repairs or cosmetic work that will significantly enhance the salability of the property. Marketing includes the exposure of your property to other REALTORS and the public. In many markets across the country, over 50% of real estate sales are cooperative sales, which means a REALTOR other than yours brings in the buyer. Your agent acts as the marketing coordinator, disbursing information about your property to other REALTORS through a Multiple Listing Service or other cooperative marketing networks, open houses for agents, etc.
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 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 and family, and personal contacts.
When the property is marketed with the REALTOR'S help, you do not have to allow strangers into your home. REALTORS will generally pre-screen and accompany qualified prospects through your property.
The negotiation process deals with much the same issues for both buyers and sellers, as noted above under the buying process. 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.
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 REALTOR is the best person to objectively help you resolve these issues and move the transaction to closing (or settlement).
How Do REALTORS Get Paid?
REALTORS are generally paid by the seller, but only when a transaction closes. REALTORS have expenses and financial obligations just like you, so it will be to your mutual benefit if you choose a REALTOR and stick with that person. The REALTOR will respect your loyalty and respond with a sincere commitment to you.
Why 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 "R" logo on the business card or other marketing ands 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.
Using a REALTOR
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!
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Kirk Realty Group provides personal real estate services based on honesty, dedication, and integrity in Indiana. See our featured listings and search for properties in Fishers, Carmel, Noblesville, Brownsburg, and the greater Indianapolis area.