Why Use a Realtor

All real estate licenses are not the same. Members of the National Association of Realtors are properly called REALTORS, and they proudly carry the trademark on their logos, business ads and calling cards

Because buying a home is the most expensive purchase you will probably ever make; in today's market it is upwards of $200,000, you want every benefit possible going for you in this transaction. Surely you would run, not walk, to a CPA if you had a $200,000 IRS problem, nor would you attempt to solve a $200,000 law suit without a qualified attorney.

A Realtor is knowledgeable of all aspects of your property purchase. She will advise you of market conditions, financial choices, and any legal issues that may arise. This leaves the easy part to you -- accompanying the Realtor to a select few homes that have been narrowed down to fit your descriptive dreams.

When you are finally given a selection of three or four homes, you may think that each one is exactly what you described. That is because a Realtor is trained to sort through hundreds of listed properties looking for your individual needs. Generally they have visited each house when it was listed and will make their selection based on these visits. Realtors are priceless. Use them!

There are three major classes of real estate sales associates:

• Real Estate Professional
• Part Time Agent
• Referral Agent

The Real Estate Professional is your best choice for successful transactions because they devote 50 - 60 hours a week studying the local market conditions and current rate and trends in mortgage financing. They are also aware of any specific legal problems that a buyer may encounter with certain properties. Particularly vital information is available if you are new to town and not familiar with areas you want to avoid. They are also generally well informed on the school districts in their area. Keep in mind that it is unethical for a Realtor to 'steer' you to certain communities for racial or ethnic reasons.

The Part Time Realtor works mostly evenings and weekends. Normally they have other jobs and may be unavailable to you in an emergency. Often they are stay-at-home moms earning some spare money. Given the choice, choose a Realtor who will be available at a moment's notice.

Referral agents are individuals who have acquired a Real Estate license but are not actively participating in the business; friends, neighbors and relatives who keep their hand in the business for the infrequent cut of a sales commission. For this reason they are often ignored by the real estate professional who realizes she will do all work, but split the commission with the 'referral agent'.

Realtor Designations:

The "designations" that a Realtor can earn require several years of education to obtain and some require performance standards as well. The better known residential designations are;

• CPM - Certified Property Manager
• CRB - Certified Real Estate Brokerage Manager
• CRS - Certified Residential Specialist
• GRI - Graduate Realtor Institute

Realtors who pay for their own advertising proudly display their well earned designations after their name. Reviewing these in media advertisements is an excellent way to select a Professional Realtor. Agents whose only ads are the company display ads are nor very active for good reason.

Selecting a Realtor:

First and foremost, look for a Realtor who specializes in the property you are interested in purchasing. If your search is for a second home or vacation home go to the area you are attracted to. Likewise if you are looking for commercial property or land, look for professionals with that expertise to assist you. I mean, after all, if you have a heart problem, you wouldn't go to a dermatologist.

All Real Estate Offices have a "Realtor on Duty" during the hours of operation. Any inquiry calls or foot traffic that opens the door is directed to this agent on duty -- and guess what, she is now your Realtor and the only one authorized to work with you!

For this reason it is strongly suggested that you get a recommendation from someone you know that has had a satisfying experience with their Realtor. If you phone an office with a name, or walk-in and ask for an individual by name - you have made a better choice. However, it has been my experience that more often than not the agent on duty is a professional and you will be satisfied with their help.

Also, the size of the real estate office should have little to do with your intent to buy a property. If the Broker is a member of the NAR, they have access to the MLS System.

Keep in mind that a Realtor is an independent contractor. They do not receive any compensation from the Broker other than a split of the commission earned. It is unethical to ask them to give up part of their commission to help you get a lower price on a home.

Your take-away lesson: Selecting a Realtor happens before making your inquiry! Otherwise the selection is made for you. Your initial step therefore in buying a home is to interview and choose a Realtor just as you would any other contractor prior to doing business.