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How Does a REALTOR® Really Help with
a Successful Sales Transaction?
Many homeowners and homebuyers are not aware of the true value of a REALTOR® during the course of a real estate transaction: all of the disclosures required, forms to be filled out and filed in order to bring the sales transaction to a smooth successful close.
REALTORs® have generally assumed that the fact and information finding, expertise, professional knowledge and just plain hard work that go into bringing about a successful sales transaction were understood and appreciated by buyers and sellers.
Most of the very important services and steps are performed behind the scenes by either the REALTOR® or the brokerage staff and traditionally have been viewed simply as part of their professional responsibilities to the client. Without them the transaction could be placed in jeopardy. Many details and services could be overlooked or not even ordered until it is time to close, at which time the sale could be at risk of falling through.
The REALTOR®'s Critical Role lists typical actions, research steps, processes, and review stages necessary for a successful residential real estate transaction and normally provided by a full service real estate brokerage and for which they are entitled to fair compensation.
Our code of ethics provides that the REALTOR´s® personal and professional commitment is to ensure that a seller and buyer are brought together in an agreement that provides each with a "win-win" that is fair and equitable to all parties concerned.
Your REALTOR´s® motivation is very easy to understand. Most full-service brokerages provide that no commission is paid until and unless the sale closes.
In contrast, there are firms that offer "limited services" in exchange for an up-front flat fee, such as a fee to enter a listing in the MLS only or perhaps offer a menu of pay-as-you-go or "a la carte" options. Others even offer a sliding scale ranging from limited to full service. In these cases, the REALTOR´s® compensation is based on these reduced service levels with the seller bearing full responsibility and liability for all the other steps and procedures in the selling process. Basically, the statement "you get what you pay for" rings true with selling or buying your home as well as other services.
Many Options and Choices
Today real estate brokerage offers the homeowner many, many choices in which to choose how they would like to handle the largest sale or purchase of their life.
Before signing a Listing Agreement, Buyers Agency Agreement or otherwise engaging the services of a REALTOR® and agreeing to compensate him or her, homeowners should understand exactly what services will, or will not, be provided.
Why Should You Use A REALTOR®?
All real estate agents and brokers are not REALTOR®. That term and the Block "R" logo are trademarked by the National Association of REALTORc® and can only be used by those who are REALTOR® members through their local association of REALTORs®.
While all REALTOR® are state-issued licenses as agents or brokers, the major difference between a "real estate licensee" and a REALTOR® is that REALTORs® have taken an oath to subscribe to a stringent, enforceable Code of Ethics with Standards of Practice that promote the fair, ethical and honest treatment of all parties in a transaction. Non-member licensees have taken no such oath and are not morally bound to the ethical practices and principles set forth in the REALTOR® Code.
For that extra measure of peace of mind, ensure that the individual seeking to represent you is both a real estate licensee and a REALTOR®. Visit the Gulf Coast REALTOR® Association for a searchable list of REALTOR® members.
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