REALTORS vs Real Estate Agent

The City of College Station Fall Activities Part 2
September 17, 2012
Buying a Home Troubleshooting
September 17, 2012

REALTORS vs Real Estate Agent

What is the difference between a REALTOR and a real estate agent? Real estate agents are licensed agents through the Texas Real Estate Commission whereas REALTORS join The National Association of REALTORS. This means that REALTORS are required to follow a 17 article code of ethics. Additionally, in Bryan, College Station, REALTORS work together by using a Multiple Listing Service that allows them to post all of the properties they are marketing for sale so that any REALTOR can show and sell it. This teamwork gives them a strategic advantage and helps you find a home faster!

REALTORS assist buyers in the buying and selling process. They are there for you every step of the way when you are searching for the right home for you.

The first part of the buying process is assessing your financial situation. So step one would be to give your REALTOR a little bit of your basic information. He or she can direct you to local lenders who can help you with your budget. They know the area and lenders in the area and have a lot of experience with this.

Digging through all options in the area can be draining. Because REALTORS have unique tools to assist them in narrowing down your search, this process does not have to be a frustrating one. REALTORS can look through all available properties for you and show you only the ones that meet your specific needs.

While your REALTOR will go as far as you want them to in the researching process, you will ultimately make the final decision on the right property for you and your family. Up to this point though, your REALTOR can give you information such as what schools are in the area, what zone the house is in, utilities, neighborhood associations and regulations, etc.

Negotiating a price with the seller can be a tricky process. So many factors go into this. REALTORS have been trained to consider price, financing options, terms, inspections, date of possession, furnishings, repairs, equipment inclusions and exclusions and many other things.

REALTORS  and Real Estate Agents use contracts written by the Broker-Lawyer Committee that works for the Texas Real Estate Commission. These are specifically designed to be fair to both parties; buyers and sellers. The contracts are also extremely thorough and cover any possible circumstance that may come up during the home-buying process. Several different kinds of contracts are available, depending on what kind of property you are purchasing or selling. Whether it is a home, new construction project, condominium, farm, ranch, or commercial property, it is covered, and REALTORS have been educated on how to use and change these contracts.

Lenders often require a buyer to have inspections, surveys and title searches done on the home. Determining which kind of inspections you need (pest, septic, structural, water well, electrical, mechanical, etc.) can be tricky and your REALTOR can help you find the right inspector and schedule the right inspections. They are also trained in resolving any problems that you may encounter with the title or the survey.

Closing the sale on the home can be exciting for both the buyer and the seller, but it involves lots of small details and complications. REALTORS are highly experienced with closings and can easily lead you through this process.

REALTORS are not only helpful for those looking to buy a home; sellers need just as much help getting their home on the market. Steps involved in this process can be tricky if you have not had much prior experience.

The first step for a person looking to sell their home is to determine what price they will ask for it. A REALTOR can help you figure this number out and knows the current information on where the market is in your area. Recent sales and competing properties on the market will affect how much or how little you are able to ask for your home. The Multiple Listing Service that REALTORS have access to is an excellent source of information on the market. In order to get your property sold, you want to start off by asking a reasonable price.

You may think it insignificant, but marketing your property is an enormous part of selling it and requires you to have a “Marketing Plan.” Small repairs or cosmetic work may need to be done to your house, and your REALTOR can point out what these are. REALTORS also act as coordinators who cooperate with other real estate agents in order to bring the public to your house. This exposure is essential for getting your information out to the buyer. REALTORS can also put your information on the Multiple Listing Service and other cooperative marketing networks used by agents in the area.

Again, negotiating is something that your REALTOR can help you with. Issues for both the buyer and seller can arise and a REALTOR is experienced in negotiating terms and conditions of the contract. In reality, this is only the beginning of the final process. Appraisals, inspections and financing all follow. A REALTOR can assist you with creating a legal agreement and guide you through the selling process to ensure a smooth transaction with your buyer.

Susan Hilton (979)764-2100

CENTURY 21 Beal, Inc.

Comments are closed.