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TREC LICENSE # 0303291
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mAIN oFFICE
210-692-0990
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Step 2: Get a REALTOR®
Before placing a home on the market you should also identify REALTORS® in
your community who can assist with the sale. Because Realtor.com is the largest
real estate site online, it's a perfect place to look when seeking realty
services. Realtor.com lists realty professionals nationwide, and you can find
those active in your community through extensive directories and property
listings.
Why use a REALTOR®?
There are more than 2 million people nationwide who have licenses to sell real
estate, of which about 750,000 belong to the National Association of Realtors (NAR).
Only NAR members are entitled to use the term "REALTOR®."
NAR members must adhere to a strict Code of Ethics. By joining NAR,
individuals have access to a wide range of classes, seminars and certification
opportunities. Local REALTOR® groups are active in community matters, and
individual members are routinely involved in PTAs and other neighborhood
organizations.
In essence, local REALTORS® are community experts. They track real estate
trends, share neighborhood concerns and participate in local matters. They're
good neighbors who are in the business of helping others buy and sell homes.
How do you choose a REALTOR®?
Whether you're a first-time seller or someone who has sold many homes, there are
several ways to find a local REALTOR®:
- Use the "Find a REALTOR®" search engine on REALTOR.com® to
find individuals who actively sell in your community.
- Get recommendations from past sellers.
- Look for REALTOR® signs in your community.
- Check the classifieds in local newspapers and "shopper"
publications.
- Look at the listings in local real estate magazines.
In some cases, sellers elect to meet only with one REALTOR® while other
owners elect to meet with several. Whatever your preference, there will be a
number of questions you will want to ask, including:
- What services do you offer?
- What type of representation do you provide? (There are various forms of
representation in different states. Some brokers represent buyers, some
represent sellers, some facilitate transactions as a neutral party, and in
some cases different salespeople in a single firm may represent different
parties within a transaction.)
- What experience do you have in my immediate area?
- How long are homes in this neighborhood typically on the market? (Be aware
that because all homes are unique, some will sell faster than others.
Several factors can impact the amount of time a home remains on the market,
including changing interest rates and local economic trends.)
- How would you price my home? Ask about recent home sales and comparable
properties currently on the market. If you speak with several REALTORS® and
their price estimates differ, that's OK, but be sure to ask how their price
opinions were determined and why they think your home would sell for a given
value.
- How will you market my home? At listing presentations, brokers will
provide a detailed summary of how they market homes, what marketing
strategies have worked in the past and which marketing efforts may be
effective for your home.
- What is your fee? Brokerage fees are established in the marketplace and
not set by law or regulation. Typically, brokers who list homes are
compensated on a performance basis - that is, the broker is not paid unless
the home sells under the terms and conditions that are acceptable to you.
- What happens if another REALTOR® locates a purchaser? That is, who will
that broker represent, and how will he or she be paid?
- What disclosures should you receive? State rules require brokers to
provide extensive agency disclosure information, usually at the first
sit-down meeting with an owner or buyer.
- How long do you want to list your home? A "listing" agreement is
a contract that shows the broker's obligations and outlines the terms under
which your home is being made available for sale. The length of the
agreement is a negotiable matter.
What should you expect when working with a REALTOR®?
Once your home is listed with a REALTOR®, he or she will immediately begin to
market your home according to the most appropriate conventions for your
community.
Your REALTOR® should keep you informed as the marketing process unfolds and
as expressions of interest are received. In time, the marketing plan may be
modified to reflect buyer reactions and changes in the marketplace.
In real estate there are written offers and oral offers. Oral offers
("Would they take $225,000 for the home?") are not acceptable because
they generally cannot be enforced ("Gee, did I say $225,000? I was sure I
said $215,000"). Written offers created by the REALTOR® with assistance
from qualified attorneys address numerous issues, are consistent with local
requirements and provide the foundation for an actionable offer.
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