Hi! My name is Alicia Holdaway, and I am the 2020 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 lifetime. Why risk the biggest purchase of your life without any help? Realtors® have the knowledge and experience needed to guide you through the home-buying/selling process.
“One recent study showed that homes sold by Realtors® sold for $60,000 to $90,000 more than homes sold by owners without an agent.”
Do you know the answers to these questions?
- 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?
You can bet your Realtor® does! Not only do Realtors® understand the legal disclosures and forms required for selling a home, but they can also help you prepare/stage your home and make sure you get the best price for it. In fact, one recent study showed that homes sold by Realtors® sold for $60,000 to $90,000 more than homes sold by owners without an agent (FSBO).
A separate study by Collateral Analytics examined 1.35 million U.S. home sales and determined that “FSBOs tend to sell for lower prices than comparable home sales, and in many cases below the average differential represented by the prevailing commission rate.” The study concluded that buyers perhaps make low-ball offers to FSBO sellers, deducting the entire commission, not just the seller’s portion.
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).
Many Realtors® go above and beyond required training to obtain further specialty certifications and designations. The basic skillset of any Realtor® includes:
- Knowledge of local market value
- Marketing techniques
- Expertise in forms and legal documents
- Money-saving negotiating skills
- Lien and encumbrance protection
- A database of ready and willing buyers
You might be wondering, “What’s the difference between a real estate agent and a Realtor®?” Well, let me explain. All Realtors® are licensed real estate agents, but not all licensed real estate agents are Realtors®. In addition to the state requirements for receiving a license, all Realtors® are held to higher standards of conduct and professional integrity, as set forth in a Code of Ethics, created by the National Association of Realtors®. The Code of Ethics ensures that Realtors® meet their obligations to clients, each other, and the public.
It is important to hire a Realtor® who knows the local market and understands your needs. When hiring a Realtor®, you should get referrals and conduct interviews to make sure your Realtor® is a good fit for you. Work with a real professional. Have a real experience. Hire a Realtor®.