When you're looking for help buying or selling property, it's important to remember that the terms "real estate agent" and "REALTOR®" are not synonymous. REALTORs® can provide an extra level of service, and to be a REALTOR® you must be a member of the National Association of REALTORs®. The NAR is a non-profit trade organization that promotes high professional standards in real estate information, education and professional standards.
The National Association of REALTORs® also has earned a strong reputation for actively championing private property rights and working to make home ownership affordable and accessible.
Code of Ethics
NAR and CREA members adhere to a strict code of ethics founded on the principle of providing fair and honest service to all consumers. REALTOR® business practices are monitored at local board levels. Arbitration and disciplinary systems are in place to address complaints from the public or board members.
This local oversight keeps REALTORs® directly accountable to the individual consumers they serve. Real estate licensees, who are not REALTORs®, work solely under state/provincial licensing regulations.
RE/MAX Agents are REALTORs®
RE/MAX real estate agents are required to be REALTORs® as a condition of membership in the RE/MAX organization. As a percentage of membership, RE/MAX agents hold more REALTOR® professional designations compared to any other national or international company.
The various designations are a symbol of achieving and maintaining advanced levels of education in real estate sales and marketing. Look for the REALTOR® or "R" logo when shopping for real estate assistance, for assurance of ethical standards and commitment to the community.
Link a RE/MAX agent to that "R" for additional assurance of experience, productivity and advanced education.
The Value of a Real Estate Professional
Why hire a professional real estate agent to help sell your property? Do you have the time, experience, sources of information, and contacts to do the job yourself? Would it give you more personal time? Would you obtain a higher price? Here are just a few areas in which a professional real estate agent earns his or her commission:
A professional's insight in determining a pricing strategy for your property can keep you from missing an opportunity by undervaluing or wasting time by overpricing. Experience evaluating competing properties and market trends is a first ingredient for the best transaction experience.
- Preparation. Your agent is skilled in recommending repairs or cosmetic work that has proven to minimize time on market and maximize both prospect interest and sales price.
- Exposure to the public. Your agent will know best how to use flyers, open house days, and especially mailing to and meeting with ex-clients and other qualified buyers. The National Association of REALTORS® studies show that 82% of real estate sales are the result of not advertising, but of agent contacts through previous clients, referrals, friends and family, and personal contacts, including…
- Exposure to other industry professionals. Your agent will utilize a Multiple Listing Service or other cooperative marketing networks. Once your property is listed, it is statistically likely the buyer will be the client of another agent associated with yours.
- Advertising: media and frequency. It takes experience to know what works in advertising. Ads generate phone calls to the real estate office but statistically have minimum effectiveness selling a property. Overexposure of a property in any media may give a buyer the impression the property is distressed or the seller desperate.
Working with a real estate agent ensures showings will be supervised. You can instruct un-chaperoned buyers to call your agent for an appointment so they can be safe, and you can do your final polish before the showing.
- Middleperson. Most buyers prefer to negotiate with someone they perceive as unbiased, not emotional, and professionally trained. They are more likely to express objections to agents with the hope of resolution, when they otherwise might move on to another property rather than talking to you directly.
- Objectivity. Evaluate proposals privately without compromising your marketing position.
Monitoring, Renegotiating and Closing or Settling
- Overwhelming volume of steps. The process of appraisals, inspections and financing involves a lot of possible pitfalls. There are many required legal forms and processes.
- Experience reading and following escrow instructions. Instructions must be clear and complete. Your agent is the best person to objectively help you communicate these issues and move the transaction to closing (or settlement).
- Inspectors and other professionals. Your agent can meet specialists and negotiate regarding repairs needed to complete your contract. Industry contacts provide resources for work persons in many areas with knowledge as to their historical skill and reliability.
Your broker assumes liability for 5 years from the date of closing on your property.