Why It Pays To Use a REALTOR
What is a REALTOR and why should I use one?
Only real estate professionals who are members of the NATIONAL ASSOCIATIONS OF REALTORS® (NAR) can call themselves REALTORS. All REALTORS® adhere to NAR’s strict code of ethics, which is based on professionalism and protection of the public. That’s why all real estate licensees are NOT the same.
Dedicated to serving America’s property owners at both local and national levels, the NATIONAL ASSOCIATION OF REALTORS, The Voice for Real Estate, is the largest professional association at over one million members strong. So, whether you’re buying or selling a home – it pays to work with a REALTOR®. Look for the REALTOR® logo when choosing your real estate agent.
What Do Recent Home Buyers and Sellers Say About REALTORS?
The 2008 NAR Profile of Home Buyers and Sellers provides research results on the experiences home buyers and sellers had when purchasing or selling their home. The majority of the respondents used a REALTOR® (a member of the NATIONAL ASSOCIATION OF REALTORS). Here’s what they had to say:
Home Sellers:
- Sellers reported that an agent’s reputation was the most important factor in their selection process.
- Nearly two-thirds of sellers report that they would “definitely” use the same real estate agent again.
- The top four home seller expectations of real estate agents are:
- price my home competitively (21%);
- sell my home within a specific timeframe (20%);
- find a buyer for my home (20%);
- help market my home to a potential buyer (20%).
The Code of Ethics: A Commitment to the Public
The Code of Ethics of the NATIONAL ASSOCIATION OF REALTORS is the promise to the public that when dealing with a real estate agent that is a REALTOR®, they can expect honest and ethical treatment in all transaction-related matters. Only REALTORS® pledge to abide by the Association’s Code of Ethics and only REALTORS® are held accountable for their ethical behavior.
Some of the basic principles of the Code of Ethics include:
- Protect and promote your client’s interests, but be honest with all parties.
- Avoid exaggeration, misrepresentation, and concealment of pertinent facts. Do not reveal facts that are confidential under the scope of your agency relationship.
- Disclose present or contemplated interest in any property to all parties
- Avoid side deals without your client’s informed consent.
- Accept compensation from only one party, except with full disclosure and informed consent.
- Keep the funds of clients and customers in escrow.
- Assure, whenever possible, that transactional details are in writing.
- Provide equal service to all clients and customers.
- Be knowledgeable and competent in the fields of practice in which you ordinarily engage. Obtain assistance or disclose lack of experience if necessary.
- Do not engage in the unauthorized practice of law.
REALTOR Designations – The Mark of Expertise and Service
The NATIONAL ASSOCIATION OF REALTORS has a variety of affiliates that provide designations acknowledging experience and expertise in various real estate sectors. NAR also offers designations and certification programs to its members, including the ABR and GRI designations, and the e-PRO certification program.
ABR – Consumer demand for buyer representation has changed the relationship between buyers and real estate professionals. REBAC (Real Estate BUYER’S AGENT Council) awards the ABR (Accredited Buyer Representative) designation to REALTORS® who meet education and experience requirements to better prepare them to represent buyers.
SELLERS
REALTORS® provide sellers invaluable services, and there are many reasons to work with one. A REALTOR®:
- Can give you up-to-date information about the market, prices, financing, terms and conditions of competing properties.
- Will market your property to other real estate agents and to the public.
- Will know when, where and how to best market your property.
- Can help you objectively evaluate every buyer’s proposal without compromising your marketing position.
- Can help close the sale of your home.
