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A guide to the importance of employing a Realtor when buying or selling real estate.
Citation preview
Onlin
e Resou
rcesThe follow
ing list of online resources can assist you in
the home buying and selling process:
•w
ww
.RE
ALTO
R.com
– The world’s largest
database of homes for sale. S
earch online for
homes in your area and select the R
eal Estate
101 sectionunder H
omebuying Tools to learn
more about the hom
e buying and selling process.
•w
ww
.RE
ALTO
R.org
– Select the H
ome B
uyers
and Sellers section for com
plete information on
the home buying and selling process.A
lso
locate additional information on the N
ATION
AL
AS
SO
CIATIO
N O
F RE
ALTO
RS
®, the RE
ALTO
R®
Code of E
thics and designation programs.
RE
ALTO
RS
®provide you w
ith invaluableservices w
hen buying or selling a home.
Make the right choice
—w
ork with a R
EA
LTOR
®.
Sellers
RE
ALTO
RS
®provide sellers invaluable services, and there
are many reasons to w
ork with one.
A R
EA
LTOR
®:
•C
an give you up-to-date information about the m
arket,
prices, financing, terms and conditions of com
peting
properties.
•W
ill market your property to other real estate agents
and to the public.
•W
ill know w
hen, where and how
to best market
your property.
•C
an help you objectively evaluate every buyer’s proposal
without com
promising your m
arketing position.
•C
an help close the sale of your home.
Buyers
RE
ALTO
RS
®provide critical assistance w
ith the home
buying process.A
RE
ALTO
R®:
•H
as many resources to assist you in your hom
e search.
•C
an provide objective information about each property.
•C
an help you negotiate.
•C
an help you determine your buying pow
er.
•P
rovides guidance during the evaluation of the property.
•C
an guide you through the closing process and make
sure everything flows together sm
oothly.
For more inform
ation on NA
R’s suite of products
designed to educate real estate professionals and their
clients about relevant legal, ethical, environmental,
research and marketing topics, contact us:
Online: w
ww
.RE
ALTO
R.org/store
1-800-874-6500, select option “1”
©2010 N
ATION
AL ASSOC
IATION
OF R
EALTOR
S®. A
ll rights reserved. Item #135-30
A R
EA
LTOR
BE
NE
FITS®
Publication
(01/10 BFC
)
Buying or selling a home?
It pays to work w
ith a REALTO
R®.
Only real estate professionals w
ho are mem
bers of the
NATIO
NA
L AS
SO
CIATIO
N O
F RE
ALTO
RS
®(N
AR
) can call
themselves R
EA
LTOR
S®. A
ll RE
ALTO
RS
®adhere to N
AR
’s
strict Code of Ethics, w
hich is based on professionalism and
protection of the public. That’s why all real estate licensees
are NO
T the same.
Dedicated to serving A
merica’s property ow
ners at both
local and national levels, the NATIO
NAL ASSO
CIATIO
N O
F
REA
LTOR
S®, The Voice for R
eal Estate
®,is the largest
professional association at over one million
mem
bers strong.
So, w
hether you’re buying or selling a home
—it pays
to work w
ith a RE
ALTO
R®.
Look for the RE
ALTO
R®
logo
when choosing your real estate agent.
What is a
RE
ALT
OR
®and w
hy
shou
ld I u
se one?
What D
o Recent H
ome B
uyers andS
ellers Say A
bout RE
ALT
OR
S®?
The2009 N
AR
Profile of H
ome B
uyers and Sellers
provides
research results on the experiences home buyers and sellers
had when purchasing or selling their hom
e. The majority
of the respondents used a RE
ALTO
R®
(a mem
ber of the
NATIO
NA
L AS
SO
CIATIO
N O
F RE
ALTO
RS
®). Here’s w
hat
they had to say:
Hom
e Sellers
•S
ellers reported that an agent’s reputation was the
most im
portant factor in their selection process.
•N
early three-fifths of sellers report that they would
“definitely” use the same real estate agent again.
•The top four hom
e seller expectations of real estate
agents are: 1) price my hom
e competitively (22%
);
2) find a buyer for my hom
e (21%);
3) sell my hom
e within
a specific timefram
e (19%);
4) help market m
y home to a potential buyer (19%
).
Hom
e Buyers
•88%
of buyers would probably or definitely use
their real estate agent again.
•The benefit m
ost buyers say they receive from their
agent is help understanding the process.
•88%
of buyers were very satisfied w
ith
their agent’s knowledge of the purchase process.
•77%
of home buyers used a
real estateagent and/or broker to com
plete
their transaction.
The C
ode of E
thics:
A C
omm
itment to the P
ublicThe C
ode of Ethics of the N
ATION
AL A
SS
OC
IATION
OF
REA
LTOR
S®
is the promise to the public that w
hen dealing
with a real estate agent that is a R
EA
LTOR
®,they can
expect honest and ethical treatment in all transaction-
related matters. O
nly RE
ALTO
RS
®pledge to abide by the
Association’s C
ode ofE
thics and onlyR
EA
LTOR
S®are
held accountable for their ethical behavior.
Som
e of the basic principles of the Code of Ethics include:
•P
rotect and promote your client’s interests,
but be honest with all parties.
•A
void exaggeration, misrepresentation, and
concealment of pertinent facts. D
o not reveal
facts that are confidential under the scope of
your agency relationship.
•D
isclose present or contemplated interest in any
property to all parties.
•A
void side deals without your client’s inform
ed
consent.
•A
ccept compensation from
only one party, except
with full disclosure and inform
ed consent.
•K
eep the funds of clients and customers in escrow
.
•A
ssure, whenever possible, that transactional details
are in writing
.
•P
rovide equal service to all clients and customers.
•B
e knowledgeable and com
petent in the fields of
practice in which you ordinarily engage. O
btain
assistance or disclose lack of experience if
necessary.
•D
o not engage in the unauthorized practice of law.
RE
ALT
OR
®D
esignations—
The M
ark of Expertise and S
erviceThe N
ATION
AL A
SS
OC
IATION
OF R
EA
LTOR
S®
has a variety of affiliates that provide designations acknow
ledgingexperience and expertise in various real estate sectors.
NA
Ralso offers designations and certification program
s to its m
embers, including:
AB
R®
– REB
AC
(Real Estate B
UY
ER’S
A
GE
NT C
ouncil)awards the A
BR
®(A
ccredited Buyer
Representative) designation to R
EA
LTOR
S®
who m
eeteducation and experience
requirements to better prepare
them to represent buyers.C
IPS
– Focused specifically in aspects “international,”these R
EA
LTOR
S®
have a familiarity w
ith assisting foreigninvestors, helping local buyers invests abroad, or servingan im
migrant buyer locally; designees are the best
resource in international real estate.G
RI– A
RE
ALTO
R®
with the G
raduate RE
ALTO
R®
Institute (GR
I) designation is trained in many areas, including
legal and regulatory issues, professional standards, the salesprocess and technology.
A m
inimum
of 90 hours of training is required to achieve the G
RI designation.
e-PR
O®
– e-PR
O®
certification indicates that a
RE
ALTO
R®
has been trained on Internet business principlesand the technologies required throughout the real estatetransaction.
SR
ES
®– S
eniors Real E
state Sp
ecialists. When
looking for a real estate professional that w
ill respond
to your sp
ecific, 50+ real estate need
s, look for a Seniors
Real E
state Designee.
GR
EE
N– N
AR
’s Green D
esignation. You have m
ade the com
mitm
ent to environmental consciousness;
choose a RE
ALTO
R®
who und
erstands and
shares your green real estate goals. C
hoose an NA
R G
reenD
esignee.
To access information on the fam
ily of REALTO
R®
designationsand certifications, visit: w
ww
.REALTO
R.org/edm
atrix