- Your
Realtor® can help you determine your buying power-
that
is, your financial reserves plus you 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.
- Your
Realtor® has many resources to assist you in you 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.
- 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 values when I am ready to sell?
- Your
Realtor® can help you negotiate.
There are a myriad of
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.
- Your
Realtor® provides due diligence during the evaluation of the
property.
Depending on the area of the 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.
- Your
Realtor® can help you in understanding different financing
options and in identifying qualified lenders.
- Your
Realtor® can guide you through the closing process and make sure
everything flows together smoothly.
- 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.
- 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 RealtorS® Code of
Ethics requires RealtorS® to utilize there cooperative
relationships when they benefit for their clients.
- Your
Realtor® knows 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 precious 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.
- 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, inspection 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.
- 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).
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