What are the benefits to using a REALTOR®?
One of the best decisions any home buyer or seller can make is to hire a professional to guide them through the web of forms, financing, inspections, appraisals, marketing and negotiations. Members of the Greater Lansing Association of REALTORS® are local professionals that know the home buying and selling process as well as the community.
For most people a home is the biggest investments someone will have in their life. It is crucial to have a professional serve as a guide through this process. People consult professionals for other investments such as a retirement planning and investment portfolios, so why not hire a professional for the complicated process of or selling a home?
Buyers:
The internet has made it extremely easy to find homes for sale. Buyers have access to more information than they ever have had. Photos of the inside of the house, tax information, school district information and more can all be found with a simple click. Because of the accessibility of this information, buyers have the misconception they don’t need a REALTOR®. Assisting in find a home is only one of many tasks that a REALTOR® provides to buyers.
Network-From helping find a lender to issue a mortgage, an inspector to help ensure the buyer is making a sound investment or any other home repair professional down the road, REALTORS® can connect buyers to the right people for the job. This can save several hours of time and frustration for buyers who do not have a real estate network established.
Access to homes– It is easier for a REALTOR® to coordinate showings for the buyer. When the buyer doesn’t have a REALTOR®, showings are dependent on the listing REALTOR’S® schedule and that might make it very inconvenient for the buyer. The REALTOR® representing the buyer can work with the schedule of the buyers and take care of the hassle of scheduling the showings. In addition, a REALTOR® that is contracted as a buyer’s agent works in the interest of the buyer
Contracts– After deciding to make an offer on a house, buyers must submit a contract to the seller. REALTORS® are very familiar with these contracts and use them on a daily basis. The forms used by members of the Greater Lansing Association of REALTORS® have been written and reviewed consistently by a real estate attorney to ensure that they comply with the ever changing legal aspects of real estate law.
Negotiation Skill- Real estate prices are not set in stone and there is absolutely room for negotiation in nearly every deal. REALTORS® have experience with negotiating real estate offers and can guide buyers toward the best deal for them.
Sellers:
Sellers looking to get the most out of their home sale make the mistake of not hiring a REALTOR® to avoid the cost of a commission. This ends up hurting the seller in the long run. According to the National Association of REALTORS®, the typical home sold by the owner was about $46,000 less than homes sold by a REALTOR®.
MLS- Multiple Listing Service or the MLS is one the best tools REALTORS® have. The MLS is the housing database where all information on homes for sale as well as previously sold homes are listed for other REALTORS® to view. Within the MLS system is public records data along with information only available to other REALTORS®. Listings not in the MLS do not get near the same exposure as homes not in the MLS.
Syndication- Listing data from the Greater Lansing Association of REALTORS® MLS is automatically sent to, or syndicated to, several different websites. Homesnap, Zillow, REALTOR.com and Trulia are some examples of sites that REALTOR® members of the Greater Lansing Association of REALTORS® are able to use to promote listings. These sites are for advertising purposes and do not provide the complete picture of what the value of a specific home would be.
Showings – Home owners that do not hire a professional to manage home showings are responsible for scheduling all showings and vetting whether the buyers are qualified to purchase their home. By hiring a listing agent, home owners rely on their agent to schedule showings to qualified buyers and receive feedback from buyer’s agents regarding the price and condition of the home. Members of the Greater Lansing Association of REALTORS® also use secure lockboxes that record every agent that accesses a listing. Sellers should ask their listing agent if they are using an electronic lockbox on for their listing.
Contracts– The process of selling a home requires the use of contracts not available to the public. Sellers would need to hire a real estate attorney to write and review for a home sale by owner which can get very costly, very quickly. Just like with a buyer’s agent, REALTORS® representing the home seller have access to contracts used by other members of the Association that have already been reviewed by a real estate attorney. Not only do REALTOR® members have access to contracts, they also have access to secure electronic signature programs that allow all parties to sign documents electronically eliminating the need to meet an agent or buyer for multiple signatures during contract negotiations.
Buying or selling a home can be confusing and time consuming and most transaction do not come with out problems during the process, but a REALTOR® member of the Greater Lansing Association of REALTORS® can help consumers work through all facets and issues that come up during the transaction.