5 reasons buyers should hire a REALTOR.
Would you ever trust a surgery to anyone besides a highly-skilled and experience doctor? Would you ever try to fly a plane without any pilot training? We’re hoping the answer is no and that you realize for important decisions, it is essential to have a helpful professional at your side. Approximately half of home buyers close on a home without an advocate by their side. This research performed by the National Association of REALTORS® and the National Association of Exclusive Buyer’s Agents, shows that many buyers do not understand the importance of having a partner to advocate for them. If you’re about to buy or sell a home in Minnesota you might be wondering why you should hire a REALTOR®. Be confident you’ve made the right decision by reviewing these reasons to hire a REALTOR:
- Not all real estate professional are created equally. Only members of the National Association of REALTORS® can call themselves REALTORS. This association of about 750,000 brokers and agents provides a Code of Ethics to standardize professional behavior, and it offers advanced educational opportunities to its members, enabling them to offer accredited sub-specialties such as buyer’s representation (ABR,) residential real estate expertise (CRS,) or Internet readiness (e-PRO) to the public.
- 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.
- 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 sign for the property. Your agent can advise you as to which investigations and inspections are recommended or required.
- Your REALTOR can help you in understanding financing, closing and the marketplace. Your REALTOR can help you in understanding different financing options and in identifying qualified lenders.He or she will 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 make your home more appealing to buyers. Your REALTOR markets your property to other real estate agents and the public. In many markets across the country, more than 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.
Between setting the right asking price or budget, setting up open houses, staging a home, finding homes to look at and deciding what to place or accept as an offer – there’s a lot of work that goes into home ownership. Let a REALTOR help you find your dream home!
The Minnesota Association of REALTORS® is the largest professional trade association in the state with more than 17,000 members who are active in all aspects of the real estate industry.