12 Reason to Use a REALTOR® When Buying or Selling
Smart home sellers realize they need the expertise of a REALTOR® in pricing their home, attracting buyers, arranging open houses, marketing the property and coordinating with inspectors, appraisers, mortgage brokers, escrow officers and other professionals. The process of selling your home can be complicated, but your REALTOR® is there to make your life easier. They know the market, understand local conditions and are trained on the legal and disclosure requirements that come with selling a house.
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. 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).
REALTORS® are required to have mandatory training and are considered the best of the real estate profession
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The REALTOR® Commitment – Professionals You Can Trust
A REALTOR® is licensed by the Canadian Real Estate Association (CREA) and adheres to a strict Code of Ethics and Standards of Business Practice. They are professionals, trained and tested. A REALTOR® is your guarantee of professional conduct and the best in service.
REALTORS® are there to make the transfer of property as smooth as possible and are in daily contact with buyers potentially interested in your home. Licensed REALTORS® also carry errors and omissions insurance.
MARKET EVALUATIONS
Pricing your home competitively is key to a quick sale. REALTORS® are trained and experienced in providing accurate market evaluations, usually at no cost to the homeowner. Their market analysis and advice will allow the home to be priced according to current housing market conditions.
EXPERTISE
Home buyers choose a REALTOR® to help them pick the right property to suit their needs. They will have community information regarding utilities, zoning, and schools. A REALTOR® will pre-screen potential properties, advise on price, and help navigate the complicated process of preparing an Offer To Purchase. Your REALTOR® can also help you determine your buying power and refer you to qualified lenders.
Home sellers list with a REALTOR® because of their experience in negotiating the best possible price for their properties. But price isn’t necessarily the deciding factor – a REALTOR® will be able to explain the financing, terms, and other conditions you may come across when reviewing potential offers. REALTORS® know how to show your home to its best potential and can provide assistance and advice on preparing the property to enhance its saleability. Most REALTORS® take advantage of continuing education to enhance their skills and stay up-to-date on the latest marketing techniques to keep them competitive as the market changes. REALTORS® are also educated on the complex laws and regulations that impact the real estate industry.
KNOWLEDGE OF MARKET CONDITIONS
A REALTOR® will have in-depth information about the current market conditions in local areas. Even in the same city, individual neighbourhoods have different housing markets. A REALTOR® will be able to provide information on the number of days homes have been on the market, current homes that are for sale, which homes have recently sold, and the average sale prices for homes in your area.
EXPOSURE
REALTOR® provide a solid marketing plan to get your property sold. Choosing a REALTOR® who creates a full-service proposal including web and print advertising is ideal.
A REALTOR® who is willing to invest marketing dollars on your behalf will give your property the most exposure possible. Ask your potential REALTOR® where they intend to advertise your home. The Multiple Listing Service (MLS) is a great start, but additional advertising is always a good idea. Homes & Land Magazine of Edmonton provides a fully integrated marketing service plan to REALTORS®.
Choosing a REALTOR® who advertises in Homes & Land Magazine of Edmonton not only gives your property exposure in print throughout the City and surrounding areas, but the magazine is also available to view online at HomesandLandofEdmonton.com. Many copies of the magazine are directmailed to targeted homebuyers as well. Listings advertised in Homes & Land of Edmonton are also available to view on a number of affiliated websites. Homes & Land of Edmonton puts your home in front of thousands of potential buyers everyday!
CONTACTS
REALTORS® are experts in connecting buyers with the home of their dreams. They develop a relationship with their clients that allows them to advise on which potential properties may suit their needs. Their contacts with other REALTORS® will ensure that no property is overlooked in the search for a new home.
TIME COMMITMENT
Marketing and showing properties takes up a considerable amount of time. A REALTOR® is available full-time to show your property to potential buyers. They invest their time so you don’t have to.
REALTORS® have skills, knowledge, experience and a network of resources, and will work with you to secure the biggest financial investment you’re ever likely to make. Whether buying or selling, dealing with a REALTOR® will make your real estate experience the best it can be!
Take a moment to view the current issue of our magazine!
Kerri Anderson
Homes & Land of Edmonton was launched nearly nine years ago; one of the first in Canada. I was very excited to begin working with Homes & Land of Edmonton as a Sales & Marketing Consultant, and I believe so strongly in our product, that I have since purchased the franchise. I have a strong background in sales, marketing, and publishing, with a reputation for providing superior customer service. I am proud to offer Edmonton and area Real Estate Professionals an excellent forum for promoting their listings.
