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Why
Use a South Florida REALTOR?
All real estate
licensees are not the same. Only real estate licensees who
are members of the NATIONAL ASSOCIATION OF REALTORS are
properly called REALTORS. They proudly display the REALTOR
"" logo on the business card or other marketing
and sales literature. REALTORS are committed to treat all
parties to a transaction honestly. REALTORS subscribe to a
strict code of ethics and are expected to maintain a higher
level of knowledge of the process of buying and selling real
estate. An independent survey reports that 84% of home
buyers would use the same REALTOR again.
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Real estate
transactions involve one of the biggest financial
investments most people experience in their lifetime.
Transactions today usually exceed $100,000. If you had a
$100,000 income tax problem, would you attempt to deal with
it without the help of a CPA? If you had a $100,000 legal
question, would you deal with it without the help of an
attorney? Considering the small upside cost and the large
downside risk, it would be foolish to consider a deal in
real estate without the professional assistance of a
REALTOR.
But if you're
still not convinced of the value of a REALTOR, here are a
dozen more reasons to use one:
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1. Your
South Florida REALTOR can help you determine your buying power --
that is, your financial reserves plus your borrowing
capacity. If you give a REALTOR some basic information
about your available savings, income and current debt, he or
she can refer you to lenders best qualified to help you.
Most lenders -- banks and mortgage companies -- offer
limited choices.
2. Your
South Florida
REALTOR has many resources to assist you in your home
search. Sometimes the property you are seeking is
available but not actively advertised in the market, and it
will take some investigation by your agent to find all
available properties.
3. Your
South Florida
REALTOR can assist you in the selection process by
providing objective information about each property. Agents
who are REALTORS have access to a variety of informational
resources. REALTORS can provide local community
information on utilities, zoning. schools, etc. There are
two things you'll want to know. First, will the property
provide the environment I want for a home or investment?
Second, will the property have resale value when I am ready
to sell?
4. Your
South Florida
REALTOR can help you negotiate. There are myriad
negotiating factors, including but not limited to price,
financing, terms, date of possession and often the inclusion
or exclusion of repairs and furnishings or equipment. The
purchase agreement should provide a period of time for you
to complete appropriate inspections and investigations of
the property before you are bound to complete the purchase.
Your agent can advise you as to which investigations and
inspections are recommended or required.
5. Your
South Florida
REALTOR provides due diligence during the evaluation of
the property. Depending on the area and property, this
could include inspections for termites, dry rot, asbestos,
faulty structure, roof condition, septic tank and well
tests, just to name a few. Your REALTOR can assist you in
finding qualified responsible professionals to do most of
these investigations and provide you with written reports.
You will also want to see a preliminary report on the title
of the property. Title indicates ownership of property and
can be mired in confusing status of past owners or rights of
access. The title to most properties will have some
limitations; for example, easements (access rights) for
utilities. Your REALTOR, title company or attorney can
help you resolve issues that might cause problems at a later
date.
6. Your
South Florida
REALTOR can help you in understanding different financing
options and in identifying qualified lenders.
7. Your
South Florida
REALTOR can guide you through the closing process and make
sure everything flows together smoothly.
8. When
selling your home, your REALTOR can give you up-to-date
information on what is happening in the marketplace and the
price, financing, terms and condition of competing
properties. These are key factors in getting your
property sold at the best price, quickly and with minimum
hassle.
9. Your
REALTOR markets your property to other real estate agents
and the public. Often, your REALTOR can recommend
repairs or cosmetic work that will significantly enhance the
salability of your property. Your REALTOR markets your
property to other real estate agents and the public. In many
markets across the country, over 50% of real estate sales
are cooperative sales; that is, a real estate agent other
than yours brings in the buyer. Your REALTOR acts as the
marketing coordinator, disbursing information about your
property to other real estate agents through a Multiple
Listing Service or other cooperative marketing networks,
open houses for agents, etc. The REALTOR Code of Ethics
requires REALTORS to utilize these cooperative
relationships when they benefit their clients.
10. Your
REALTOR will know when, where and how to advertise your
property. There is a misconception that advertising
sells real estate. The NATIONAL ASSOCIATION OF REALTORS
studies show that 82% of real estate sales are the result of
agent contacts through previous clients, referrals, friends,
family and personal contacts. When a property is marketed
with the help of your REALTOR, you do not have to allow
strangers into your home. Your REALTOR will generally
prescreen and accompany qualified prospects through your
property.
11. Your
REALTOR can help you objectively evaluate every buyer's
proposal without compromising your marketing position. This
initial agreement is only the beginning of a process of
appraisals, inspections and financing -- a lot of possible
pitfalls. Your REALTOR can help you write a legally
binding, win-win agreement that will be more likely to make
it through the process.
12. Your
REALTOR can help close the sale of your home. Between
the initial sales agreement and closing (or settlement),
questions may arise. For example, unexpected repairs are
required to obtain financing or a cloud in the title is
discovered. The required paperwork alone is overwhelming for
most sellers. Your REALTOR is the best person to
objectively help you resolve these issues and move the
transaction to closing (or settlement).
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