What Does A Realtor Do? Do I Need to Hire One?
Being a real estate agent is a 24/7 job. For me, I don’t think of it so much as “a job” because I really enjoy what I do. But make no mistake it is hard work.
With the various websites and information available to home sellers or buyers, individuals feel that it is easy to sell their own home and save the compensation earned by the realtor. And for some, it may be. But keep in mind this is often the largest financial transaction you make and you will find that hiring a professional to handle the transaction will likely save you money and definitely decrease your stress and emotion.
Here are some of the things a licensed realtor will do.
1) To start let me explain the difference between a licensed realtor and a real estate agent? Realtors are real estate specialists. There are many real estate agents but only members of the National Association of Realtors can call themselves Realtors. The National Association of Realtors provides a Code of Ethics tostandardize professional behavior, and it offers advanced educational opportunities to its members and enables them to acquire accredited sub-specialties. A realtor takes additional courses and spends more money to be able to provide a service to her clients. If you are working with a realtor under an agency agreement, (i.e., a conventional, full- service commission agreement in which the realtor agrees to represent you), your realtor will be bound to a fiduciary relationship. In other words, the realtor is bound by license law to act in their clients’ best interest (not his or her own).
2) A realtors full-time job is to act as a liaison between sellers and buyers. If you are interested in buying a home, your agent will meet with you to determine what type of home you are looking for. She/he will have access to all other properties listed by other real estate agents. She will search dozens of homes to find those that fit your criteria, make appointments to view the home, check the comparable homes and ultimately negotiate on your behalf. If you’re selling a home, your realtor will market your home, take calls from other agents, help schedule showings and open houses. Most buyers want to act quickly so your realtor must be available to talk or meet with them immediately so you don't miss out on the perfect buyer. Also your realtor will vette the agents coming in to your home to make sure they have a current license and qualified to show your home. Ending much of the potential risk to you and your home.
3) Any time you buy or sell a home, one of the most important duties of your realtor is to handle negotiations. In addition to negotiating the offer, she may negotiate homeowner association CIC’s, loan requirements, the appraisal, inspection items, closing date, post- closing occupancy agreement, contingencies, inclusions and exclusions and anything else that’s crucial to your particular needs. Additionally you and your realtor may need to compare multiple offers and, she will help her client decipher between different contract prices, deadlines, buyer qualifications, etc. to find the offer that works best for the client. In order to determine if the buyer is qualified to complete the transaction she will talk with buyers lender or mortgage broker. Don’t you want a savvy and professional negotiator on your side to seal the best deal for you? It’s not just about how much money you endup spending or netting but several factors go in to selecting the best offer.
4) Realtors are connected to everyone and here to help you. They have relationships withlenders/mortgage brokers, home stagers, appraisers, inspectors, home repair specialists, landscapers, interior designers and the list goes on. Usually your realtor has worked with them in the past and trusts them. Take advantage of this knowledge and use it.5) Realtors wear a lot of different hats. This isn’t just about a home sale or purchase. It’s about making the transition move along as smoothly as possible. A good agent is always there to explain the entire process making sure you understand all of the paperwork, she is a therapist, an advisor, and sometimes a marriage counselor.
When the time is right and you are ready to buy or sell a home, make sure you hire a professional that you feel confident will work with you on your behalf to make everything move forward as smoothly as possible. This does not need to be a stressful experience but just the start of the next chapter in your life.