Why Use a REALTOR®?
A REALTOR® plays a critical role in a real estate transaction; however, surveys report that many homeowners and buyers are unaware of their true value during transactions. REALTORS® demonstrate expertise and professional knowledge while they work behind the scenes to make transactions successful. REALTORS® and brokerage staff provide professional services that are essential to the success of transactions, and in their absence, transactions could be placed in jeopardy. Let us take a closer look at the comprehensive services REALTORS® provide during real estate transactions.
A REALTOR® Plays a Critical Role in Real Estate Transactions
In the course of a successful real estate transaction, there are nearly 200 typical actions, research steps, procedures, processes, and review stages that may be taken. Normally, full-service real estate brokerages complete these steps in return for their sales commission. Every transaction is different, so some of these steps may take minutes, hours, or even days to complete, while some may not be needed at all. A certain level of skill, knowledge, and attention to detail is absolutely required in today’s real estate transaction, which underscores the importance of having help and guidance from someone who fully understands the process – a REALTOR®. Click here to see the 185 things REALTORS® do during a real estate transaction.
A Spectrum of Comprehensive Services Catered to Your Transaction
REALTORS® provide a spectrum of additional services that may or may not come up during routine real estate transactions. Through being versed in these services and experts in their field, REALTORS® are prepared for unexpected complications that could arise during transactions and skilled at making informed decisions and taking appropriate steps when such scenarios arise.
A REALTOR'S® Commitment To You
REALTORS® understand how important real estate transactions are to their clients and make a personal and professional commitment to ensure that sellers and buyers are brought together in agreements that provide them both with a "win" that is fair and equitable. Moreover, REALTORS® pledge to uphold the stringent, enforceable tenets of the REALTOR® Code of Ethics in their professional dealings with the public.
Fighting for that "win" also benefits most full-service brokerages as they receive no compensation unless a sale closes. For firms that offer "limited services" in exchange for up-front flat fees or a menu of "pay as you go," "a la' cart" or sliding scale options, REALTOR® compensation is based on these reduced service levels. During these transactions, the seller bears full responsibility for all other steps and procedures in the selling process.
Real Estate Now Offers More Choices Than Ever Before
Today's real estate industry offers homeowners a variety of brokerage business models and a greater spectrum of options then in decades past. Before signing a Listing Agreement or otherwise engaging the services of a REALTOR® and agreeing to compensate them, homeowners should understand what services will or will not be provided.
Is there a Difference Between a REALTOR® and a Real Estate Agent?
Did you know that not all real estate agents and brokers are REALTORS®? That term and Block “R” logo are trademarked by the National Association of REALTORS® and can only be used by REALTOR® members through their local association of REALTORS®. While all REALTORS® are state-issued licensees as agents or brokers, the major difference between a “real estate licensee” and a REALTOR® is that REALTORS® have taken an oath to subscribe to a stringent, enforceable Code of Ethics with Standards of Practice that promote the fair, ethical, and honest treatment of all parties in a transaction.
Not every real estate licensee holds a REALTOR® membership. Non-member licensees have taken no such oath and are not morally bound to the ethical practices and principles set in the REALTOR® Code. When seeking an individual to represent you, check to see if he or she is both a real estate licensee and a REALTOR®. Visit the Space Coast Association of REALTORS® searchable list of our REALTOR® members to find a REALTOR® today.
Have additional questions about the role a REALTOR® plays in real estate transactions? Contact the Space Coast Association of REALTORS® at 321-242-2211 so that we can help.