Why Using a REALTOR® Matters – Part 2

By Mathew Lisee Sponsored by: Eastern Connecticut Association of REALTORS®

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. The NAR 2017 Profile of Home Buyers and Sellers indicates that while 42 percent of home buyers use the internet to start their search for a home, 87 percent of home buyers ultimately purchased their home through a real estate agent or broker.

Real estate transactions involve one of the biggest financial investments most people experience in their lifetime. In eastern Connecticut, buyers spend anywhere between $195,000-$227,000 on a home (median price), depending on which month it sells. 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 the last six of 12 more reasons to use one. The first five were published on March 9.

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

Only 8% of recent home sales were FSBO sales, indicating that people want a trusted advisor to help them through the process of selling a home.

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 percent 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 64 percent of real estate sales are the result of agent contacts through previous clients, referrals, friends, family and personal contacts and 85 percent of home sellers said they would recommend their agent again.

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.