 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.
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.
 What
a Louisiana REALTOR Can Do for You
The Louisiana
REALTOR you work with could be one of your most valuable resources.
Unlike many real estate agents who are simply licensed by their
state to do business, REALTORS have taken additional steps to
become members of their local board of REALTORS and have agreed
to act under and adhere to a strict Code of Ethics. Plus...
- A
Louisiana REALTOR can guide you through the
process of selling your home from beginning to end.
- A
Louisiana REALTOR can help you determine how
much home you can afford. Often a REALTOR can suggest ways to
accrue the down payment and explain alternative financing methods.
- A
Louisiana REALTOR,
in addition to knowing the local money market, also can tell
you what personal and financial data to bring with you when
you apply for a loan.
- A
Louisiana REALTOR is already familiar with
current real estate values, taxes, utility costs, municipal
services and facilities, and may be aware of local zoning changes
that could affect your decision to buy.
- A
Louisiana REALTOR can usually research your
housing needs in advance through a Multiple Listing Service--even
if you are relocating from another city.
- A
Louisiana REALTOR can show you only those homes
best suited to your needs--size, style, features, location,
accessibility to schools, transportation, shopping and other
personal preferences.
- A
Louisiana REALTOR often can suggest simple,
imaginative changes that make a home more suitable for you and
improve its utility and value.
- A
Louisiana REALTOR is sensitive to the importance
you place on this major commitment you are about to make. Look
for a real estate professional to facilitate negotiation of
a win-win agreement that will satisfy both you and the seller.
- A
Louisiana REALTOR can share information about
your home through the Multiple Listing Service and on the Internet.
- A
Louisiana REALTOR aids in complying with the
disclosures required by law.
Additionally,
Louisiana REALTORS work together to make sure homeowners and other
private-property holders are treated fairly by lawmakers and regulatory
agencies. The Louisiana Realtors Association is one of the state's
most powerful lobbying groups, continuously working to identify
and address issues that have a potential impact on the real estate
industry and private property rights. Through this involvement,
your Louisiana REALTOR continues to look out for your interests
as a property owner, after the real estate transaction and beyond.
 Designations:
What Do All Those Letters Mean?
Hiring
a Louisiana REALTOR means you’ve retained someone who is
committed to continuing education, professionalism, and integrity.
In addition to upholding the strict REALTOR Code of Ethics, many
Louisiana REALTORS hold one or more professional designations
-- those letters behind their names indicating advanced or specialized
training in real estate. Here are just a few of the various designations
a REALTOR may hold and what they could mean for you...
- ABR
- Accredited Buyer Representative
A buyer’s agent represents the buyer in a real estate
transaction, just as a seller’s agent is hired to obtain
the price and sale terms sought by the seller. The ABR is the
only nationally recognized designation for buyer’s agents.
- CRS
- Certified Residential Specialist
Residential salespeople who hold the CRS designation specialize
in listing properties, selling, and investing, as well as mortgage
financing and computer applications.
- e-PRO
- Internet Professional
The e-PRO certification is the real estate industry’s
first comprehensive technology certification endorsed by the
National Association of REALTORS. Among other high-tech skills,
these agents are experts at using the Internet to market properties.
- GRI
- Graduate REALTOR Institute
The GRI designation is a mark of distinction that earns REALTORS
respect and confidence from their peers and the general public,
demonstrating their commitment to advancing their knowledge
in many aspects of the real estate profession.
|
 |
 |
|
1.
Your 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 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 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 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 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 REALTOR can help you in understanding different financing
options and in identifying qualified lenders.
7.
Your 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).
|
|
 |
|
