So, you’re thinking of buying or selling a home… Should you use a REALTOR®? And what’s the difference between a REALTOR® and a real estate agent?
First, congratulations, buying or selling your home is a major commitment, and it’s excellent you are seeking help from a professional. First, let’s define what a REALTOR® is…
1. REALTORS® are members of the National Association of REALTORS®
REALTOR® is a trademarked term designating a real estate professional’s membership in the National Association of REALTORS® (as well as their local associations). Most importantly, in order to maintain their membership, REALTORS® must abide by a Code of Ethics which sets them apart from their real estate agent peers.
All REALTORS® are licensed real estate practitioners, but not all licensed real estate practitioners are REALTORS®. Look for the REALTOR® logo or ask your real estate professional if they are a REALTOR®.
2. Because of the Code of Ethics, REALTORS® do business with the highest level of professionalism
When conducting a transaction that could be one of the largest of your life, wouldn’t you like to know you are dealing with someone who has pledged to be ethical in their dealings?
Also, because of the Code of Ethics, REALTORS® can be more easily held responsible if you believe they have engaged in improper behavior.
3. REALTORS® wield cutting edge tools and the most accurate resources.
We all like to use popular home shopping websites. They are easy and fun! But with all the information in them, what is reliable? And what does it mean for your home or the one you want?
REALTORS® have access to proprietary industry tools which allow them to go well beyond standard analysis to help you make the most informed decision when it comes time to buy or sell a property.
4. REALTORS® are more knowledgeable and have access to more opportunities to grow their expertise.
The real estate industry is ripe with change. But REALTORS® have the backing of the world’s largest trade association, as well as local resources, which help them navigate everything from the changes in global technology and data to the market trends right in your neighborhood.
5. REALTORS® are expert guides through the real estate transaction process.
From listing to closing and offer to inspections, REALTORS® will be your rock in the complicated and sometimes emotional process of buying or selling real estate. Because of their extensive training and education, REALTORS® are equipped with the negotiation and skills to help walk you through contract addendums or any other circumstance you might come across.
6. REALTORS® help you understand the financial aspects of engaging in a real estate transaction.
We all know buying a home can be expensive, but selling one can require a significant up front investment, too. By contacting a REALTOR® early in your search, they can help you to evaluate your needs and connect you with local banks/lenders in your community, which can determine your borrowing capacity.
REALTORS® will also have knowledge about the types of loans you may qualify for, and will be able to provide help in your plans for buying a home – including resources for saving for a purchase, like a Home Buyer Savings Account to help save for a first-time home purchase in Oklahoma.