All real estate
licensees are not the same. Only real estate licensees who are
members of the NATIONAL ASSOCIATION OF REALTORS® are properly
called REALTORS®. They proudly display the REALTOR "®" logo on
the business card or other marketing and sales literature.
REALTORS® are committed to treat all parties to a transaction
honestly. REALTORS® subscribe to a strict code of ethics and are
expected to maintain a higher level of knowledge of the process
of buying and selling real estate. An independent survey reports
that 84% of home buyers would use the same REALTOR® again.
Real estate transactions
involve one of the biggest financial investments most people
experience in their lifetime. Transactions today usually exceed
$100,000. If you had a $100,000 income tax problem, would you
attempt to deal with it without the help of a CPA? If you had a
$100,000 legal question, would you deal with it without the help
of an attorney? Considering the small upside cost and the large
downside risk, it would be foolish to consider a deal in real
estate without the professional assistance of a REALTOR®.
But if you're still not
convinced of the value of a REALTOR®, here are a dozen more
reasons to use one:
1. 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.
2. Your REALTOR® 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.
3. 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 value when I
am ready to sell?
4. 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 are bound to complete
the purchase. Your agent can advise you as to which
investigations and inspections are recommended or required.
5. Your REALTOR®
provides due diligence during the evaluation of the property.
Depending on the area and 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.
6. Your REALTOR® can
help you in understanding different financing options and in
identifying qualified lenders.
7. Your REALTOR® can
guide you through the closing process and make sure everything
flows together smoothly.
Contact Kyle and SueDawn Sheetz, Your
Southern Utah Real Estate Authority when you purchase of your
next home!
