Below is information about REALTORS® and why you may want to use a REALTOR® when buying or selling your home or property.
Why Use a REALTOR® When Selling Your Home?
Why Use a REALTOR® When Buying Your Home?
What is a REALTOR®
Holding a real estate agent's or real estate broker's license does not make someone a REALTOR®. Membership in the National Association of REALTORS® entitles licensees to use the term "REALTOR®" on their business cards and in their marketing materials.
Being a REALTOR® does have many benefits, including group discounts on products and services, participation in multiple listing services and continuing education opportunities.
However, the most valuable benefit is the REALTOR® Code of Ethics. This code creates the true value that makes the real estate business a profession. It ensures that the client's interests are always protected.
Everything you need to know you learned in kindergarten. Do unto others as you would have them do unto you. These statements help clarify the basic framework of the code that all REALTORS® must pledge to uphold as a condition of membership.
Strict enforcement of the REALTOR® Code of Ethics by member peers means that all REALTORS® conduct their day to day business with foremost concern for the client.
The REALTOR® Code of Ethics was first adopted in 1913 as a voluntary document outlining the professional duties of membership. The code became mandatory in 1924. This was an era before licensing was required in many states, and the REALTOR® code helped to establish professionalism and integrity for the real estate industry. In South Carolina, the South Carolina Real Estate Commission is the licensing authority for agents and brokers.
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Why use a REALTOR® when selling your home?
When you are ready to sell your home, here's how a REALTOR® can help you:
- A REALTOR® knows the current market and can help you set a realistic competitive price. A REALTOR® is also familiar with the local home loan market and can help you decide on financing that's best to expedite your sale.
- A REALTOR® knows how to figure the approximate net proceeds from your sale based on types of loans, outstanding loan balance and closing costs.
- A REALTOR® knows where to find prospective buyers. Most home buyers prefer to work with a REALTOR®. Serious prospects are qualified as to their affordable price range before your home is shown.
- A REALTOR® frees you from problems associated with showing your home. The REALTORS® handles all phone inquires, makes appointments, shows your home, and follows up, leaving your time for you.
- A REALTOR® maintains objectivity in responding to all criticisms by the buyer in presenting offers and counter-offers until an agreement can be made.
- A REALTOR® can familiarize you with contracts and closing procedures in advance, and is usually present at the closing.
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Why use a REALTOR® when buying your home?
When you're ready to buy your home, here's how a REALTOR® can help you:
- A REALTOR® helps you determine how much home you can actually afford. Often a REALTOR® can suggest additional ways to accrue the down payment and explain alternative financing methods.
A REALTOR® can help you work out a realistic idea of the available homes, can evaluate them in terms of your needs and affordability, and doesn't waste your time on unsuitable homes.
- A REALTOR® often can supply information on real estate values, taxes, utility costs, municipal services and facilities. A REALTOR® is also aware of proposed zoning changes that could affect your decision to buy.
- A REALTOR® acts as the liaison between you and the seller in presenting offers and counter-offers until an agreement has been reached.
- A REALTOR® can tell you about financing and what personal and financial data is needed when you apply for a loan.
- A REALTOR® can familiarize you with contracts and closing procedures in advance.
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Frequently Asked Questions
