Why Use a REALTOR
What it Means to be a REALTOR®
All REALTORS® are real estate agents or brokers, but not all real estate agents are REALTORS.® A REALTOR® is a member of the NATIONAL ASSOCIATION of REALTORS® (NAR) and subscribes to its strict Code of Ethics. In addition to their professional license, REALTORS have taken another step in their professional endeavors. The term signifies a dedication to professionalism, excellence, and ethical practices in the real estate industry.
Beyond the duties of a real estate agent, a REALTOR® pledges to uphold integrity, honesty, and client interests through NAR’s Code of Ethics and complete ethics training every three years.
Working From a Code of Ethics
Working with a REALTOR® ensures that you are partnering with an individual that is not only a professional and expert in their field but will operate according to a code of ethics. The strict code of ethics that REALTORS® adhere to has been in place for over a century. It ensures that all consumers are treated ethically and with an unmatched level of professionalism through all transactions.
The Code establishes baseline principles that come from the collective experiences of REALTORS® since the Code of Ethics was first established in 1913. Those principles can be loosely defined as:
- Loyalty to clients
- Fiduciary (legal) duty to clients
- Truthfulness in statements and advertising
- Non-interference in exclusive relationships that other REALTORS® have with their clients.
REALTOR® Designations & Certifications from NAR
To earn NAR designations and certifications, a REALTOR® a real estate agent has taken coursework and demonstrated specific skills, performance and knowledge in particular areas of the real estate industry. Certifications require annual renewals beyond the initial attainment of the credential.
Negotiations and Contracts
Contracts can be very long – some can be as long as 50 pages. They can include a number of addenda, riders, and disclosures. This is where the real work begins and a REALTOR® can help you as a buyer or seller to navigate these intricate documents to develop and/or evaluate an attractive offer that works to your benefit. Once a contract is in, negotiations begin and this is where your REALTOR® becomes your advocate and can act as your objective voice.
Pricing a Home
With a variety of sites that provide an estimate on the price of a home, you run the risk of using a calculation that is based on inaccurate or unequal comparable properties. A generic site cannot always account for different neighborhoods, expected upgrades or attributes, especially since it hasn’t actually seen or been inside of your home.
Online estimates are commonly off by as much as 35%, and often rely on tax information that can be more than 6 months old. Having a real estate expert that knows the local market, will have access to the most up-to-date data, and will be able to price your home in line with its most accurate market value. Pricing your home right at the start will most likely provide the largest offers in the shortest amount of time.
Finding the Right Home
REALTORS® are immersed in real estate. They are capable of sharing information about a local area and residence that you as a buyer wouldn’t know otherwise. Knowing all the pros and cons of a home will help ensure you make the right decision.
Changing Regulations
Annually evolving laws and variations from state to state make buying or selling a home different from all other purchases. With people purchasing a home, on average, every 7-10 years, many things can change, and usually do. A REALTOR® lives and breathes real estate and must stay current with every update and regulatory, law, contract, and practice changes.
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