Most individuals looking to buy or sell a home know that the first step in the process is securing a trusted REALTOR® to act as their expert guide along the way. For over a century, REALTORS® have subscribed to the National Association of REALTORS® Code of Ethics. They are constantly continuing their education on the complex and always-changing world of real estate laws and regulations and have the connections to help make your dream a reality.
Some duties of a REALTOR® are straight forward — REALTORS® are the industry experts that help you buy or sell a home. Yet a great REALTOR® does more than just the basics; these professionals handle the seemingly small (albeit necessary) details that make the home buying and selling process not only smooth, but enjoyable.
What does a realtor do beyond navigating you through the transaction?
- Research — Your REALTOR® is going to research potential properties that you may be interested in — and then some. REALTORS® look into sales activity from an MLS database and verify the information. They find out average days on the market for properties in similar price, type and location, check out tax information, deed type, current use and zoning. REALTORS® research and create a comparable market analysis, along with other in-depth tools that everyday citizens don’t have access to.
- Review — REALTORS® are responsible for reviewing many items that may fly under the buyer or seller’s radar. They’ll review agent credentials, all clauses of a listing contract, current title information, current appraisals, inspection reports and so on. These detail-oriented tasks ensure that you’re not left with any unpleasant surprises down the road.
- Offer and Contract — The list of tasks that must occur during the offer negotiations and contract reviews are endless. A REALTOR® will receive and review all offers that are submitted by buyers or a buyer’s REALTOR®. They will then review and negotiate the offer until all parties — both buyer and seller — are satisfied and have the best deal possible. The REALTOR® will go as far as to verify that a buyer is pre-qualified for a loan and advise on the best and worst case scenarios based on the buyers credit report.
- Closing — At closing, your REALTOR® will verify that everything is buttoned-up and checked off. They will make sure the contract is signed by all parties, update closing forms and files and confirm the closing date and time with all parties. The REALTOR® will also closely and carefully review closing figures to ensure accuracy, giving you the peace of mind that the deal was executed as intended with no unexpected hiccups.
To view a list of all the things you may not know your REALTOR® does, click here.