Hi, I’m Troy Peterson, 2017 president of the Salt Lake Board of Realtors®. Buying or selling a home is usually the biggest financial transaction a person will make in their life. Using a Realtor® makes the process easier and limits the risk. In fact, roughly nine of 10 homes sold in the United States are sold by licensed real estate professionals. Homes sold by Realtors® sell on average for tens of thousands of dollars more than the typical for-sale-by-owner (FSBO) home. Realtors® offer buyers and sellers specialized knowledge of neighborhoods and market conditions. In addition to residential transactions, many Realtors® are specialized to assist you in your commercial real estate needs (retail, office, industrial and land).
Realtors® understand the legal disclosures and forms required in selling a home. For example, should material defects in a home be disclosed? How should earnest money be handled when a home goes under contract? What is the right response when multiple offers are received? What are the risks in showing a home to strangers? Typically, the three most difficult tasks for home sellers involve: 1. Understanding the legal forms required in selling a home. 2. Getting the right price. 3. Preparing/staging a home for sale. Remember, each state has its own laws and requirements associated with the transaction of real estate.
Realtors® can help you navigate the home buying-selling process:
- Knowledge of local market value
- Marketing savvy
- Expertise in forms and legal documents
- Money saving negotiating skills
- Lien and encumbrance protection
- A database of ready and willing buyers
It’s important to hire a Realtor® that knows the local market and understands your needs. When hiring a Realtor®, conduct interviews. Get referrals. All Realtors® are subject to a Code of Ethics and receive training requirements above and beyond the state requirements for licensure.