|
Buying a home or buying and leasing commercial space can be an exciting process! The best advice is to do as much research as possible, then hire a professional. How do you choose the best person for the job?
How is a REALTOR® different from a real estate agent?
A real estate agent is a REALTOR® when he or she becomes a member of the NATIONAL ASSOCIATION OF REALTORS®, The Voice for Real Estate®, the world's largest professional association. The term "REALTOR®" is a registered collective membership mark that identifies a real estate professional who is a member of the NATIONAL ASSOCIATION OF REALTORS®. Members display the REALTOR® logo on their business card or other marketing and sales literature. REALTORS® are committed to treat all parties to a transaction honestly. They adhere to the NAR's strict Code of Ethics, which is based on professionalism and protection of the public, and are expected to maintain a higher level of knowledge of the process of buying and selling real estate.
REALTORS® work independently, for small agencies, or for large brokerages. They help people buy and sell residential or commercial properties, vacation homes, and land; they conduct appraisals; they operate in the United States and in other countries; some specialize in auctions; and others are buyer's representatives. Many consumers consider selling their home directly but eventually turn to REALTORS®. Smart home sellers realize they need the expertise in pricing their home, making connections with REALTORS® working with buyers, arranging and staffing open houses, and coordinating with other professionals in the sales process.
Additional Buyer's Information PDF
Look for the REALTOR® logo when choosing your real estate agent!
Your REALTOR®:
- Can help you determine your buying power - that is, your financial reserves plus your borrowing capacity. He or she can help you understand different financing options and identify qualified lenders.
- 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.
- Will 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, including the Multiple List Service, and can provide local community information on utilities, zoning, schools, etc.
- Provides due diligence during the evaluation of the property. Your agent can advise you as to which investigations and inspections are recommended or required. Additionally, your REALTOR® can assist you in finding qualified, responsible professionals to do most of these investigations and provide you with written reports.
- Will guide you through the closing process and make sure everything flows smoothly. He or she can assist with 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.
 |
The Code of Ethics: A Commitment to the Public
The Code of Ethics of the National Association of REALTORS® is a promise to the public that when dealing with a real estate agent that is a REALTOR®, they can expect honest and ethical treatment in all transaction-related matters. Only REALTORS® pledge to abide by the Association's Code of Ethics and only REALTORS® are held accountable for their ethical behavior.
REALTOR® Designations - The Mark of Expertise and Service
The National Association of REALTORS® has a variety of affiliates that provide designations acknowledging experience and expertise in various real estate sectors. NAR also offers designations and certification programs to its members, including the following:
ABR - Consumer demand for buyer representation has changed the relationship between buyers and real estate professionals. REBAC (Real Estate BUYER'S AGENT Council) awards the ABR (Accredited Buyer Representative) designation to REALTORS® who meet education and experience requirements to better prepare them to represent buyers.
GRI - A REALTOR® with the Graduate REALTOR® Institute (GRI) designation is trained in many areas, including legal and regulatory issues, professional standards, the sales process, and technology. A minimum of 90 hours of training is required to achieve the GRI designation.
e-PRO - e-PRO certification indicates that a REALTOR® has been trained on Internet business principles and the technologies required throughout the real estate transaction.
To obtain more information about the family of REALTOR® designations and certifications, visit NAR designations.
Select information courtesy of the National Association of REALTORS® (NAR) website, http://www.realtor.org/.
|