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Picking A Realtor

Make sure you choose an agent with the right designation:

1: Not all agents or brokers are Realtors®

Before a license is issued, minimum standards for education, exams, which are determined by the state, must be met.

The term REALTOR® identifies a real estate professional who is a member of the National Association Of Realtors and is bound by a strict Code Of Ethics (which in many cases goes beyond state law). Working with a Realtor that belongs to an MLS (Multiple Listing Service), will give you access to the greatest number of homes.

Using an agent and the obligations that are owed to you:

An agent is bound by certain legal obligations. Traditionally, these common-law obligations are to:
Put the clients interests above anyone else’s; Keep the client’s information confidential; Obey the client’s lawful instruction; Report to the client anything that would be useful; and Account to the client for any money involved.

How to evaluate an agent:

  • Does the agent have an active real estate license? To find this information, you can check with your state’s governing agency.
  • Does the agent belong to the Multiple Listing Service (MLS)?
  • Is real estate their full- time career? How much time do they have available to dedicate to you?
  • What real estate designations does the agent hold?
  • Which party is he or she representing—you or the seller? This discussion is supposed to occur early on, at “first serious contact” with you. The agent should discuss your state’s particular definitions of agency, so you’ll know where you stand.
  • In exchange for your commitment, how will the agent help you accomplish your goals? Show you homes that meet your requirements and provide you with a list of the properties he or she is showing you?

You be the judge:

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 in your best interest  to consider a deal in real estate with the professional assistance of a REALTOR®!



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