SavannahNOW Home Finder.com - Savannah's Ultimate Home Buying Guide

The terms agent, broker and Realtor are often used interchangeably, but have very different meanings. For example, not all agents (also called salespersons) or brokers are Realtors. You should learn who is a Realtor in your community and the reasons why you should use one.

As a prerequisite to selling real estate, a person must be licensed by the state in which they work, either as an agent/salesperson or as a broker. Before a license is issued, minimum standards for education, examinations, and experience, which are determined on a state-by-state basis, must be met. After receiving a real estate license, most agents go on to join their local board or association of Realtors and the National Association of Realtors, the world's largest professional trade association. Agents can then call themselves Realtors.

The term, Realtor, is a registered collective membership mark that identifies a real estate professional who is a member of the National Association of Realtors and subscribes to its strict Code of Ethics (which in many cases goes beyond state law).

In most areas, it is the Realtor who shares information on the homes they are marketing, through a Multiple Listing Service (MLS). Working with a realtor who belongs to an MLS will give you access to the greatest number of homes.

How To Evaluate An Agent

You can invite local Realtors to visit your home and give you a �listing presentation� about why they are the best agents to market your home for you. Realtors will come without any obligations from you.

A listing presentation includes having the Realtor review the reasons why you should list with that particular individual, and providing you with information that will assist you in making initial decisions about selling your home.

Recent laws in every state have defined the duties of someone specifically retained as a real estate agent. Most states require a real estate agent to explain his or her role at the outset of any conversation. A professional agent will promptly provide such a disclosure.

Things To Look For In an Agent

When choosing a real estate agent, it is a good idea that he or she be a member of the local board of association of Realtors. Agents should explain and disclose agency relationships (the role of the agent, i.e., who they are representing (the buyer or the seller) early on in the process, at �serious first contact.� They should advise you on how to prepare your home for the market.

A good agent will also show some enthusiasm for your property, listen attentively, instill confidence, operate in a professional manner, and possess a complementary personality style to yours.

Your agent should have already researched your property in the public records and the MLS before putting it on the market. Agents should also bring data on nearby homes that have sold (or failed to sell) recently.

What a Realtor Will Do for You

� Walk through the process of selling your home from beginning to end.
� Provide the prices of other properties that have sold, and analyzing data to gain a true comparison.
� Supply information regarding local customers and regulations you may want to consider.
� Share information about your home through the Multiple Listing Service and on the Internet.
� Place advertisements for your home.
� Field phone calls.
� �Qualify� potential buyers to make sure they are financially able to buy your property.
� Negotiate the sales contract.
� Alert you to potential risks.
� Comply with the disclosures required by law.
� Help you prepare for a smooth closing of the transaction.

Selling On Your Own

�You can get rid of the broker, but you cannot get rid of the broker's work� is an old caution for those who intend to offer their homes �For Sale By Owner.� Selling on your own is not an easy undertaking.

Selling your home by yourself requires a significant amount of time to study the process, understand your obligations, and do some of the complicated work that a real estate agent does. In addition, selling on your own requires extra help from outside professionals, such as Realtors, accountants, or attorneys for some of the jobs that require specific expertise.

Questions To Ask An Agent

� Are you a Realtor?
� Do you have an active real estate license in good standing?
� Do you belong to the Multiple Listing Service (MLS) and/or a reliable online home-buyer's search service?
� What have you listed or sold in this neighborhood lately?
� Do you cooperate with buyers' broker?
� What share of the commission will you offer a cooperating broker who finds the buyer?
� What is your marketing plan (i.e. advertising, internet, IPIX tours, open houses, etc.)?
� Do you pre-qualify potential buyers before showing the property?

The Top Five Things You Should Know...

1. Look for an agent who is a member of the local board or association of Realtors.
2. Agents should explain and disclose their role and whom they represent at the first contact.
3. The agent should advise you on how to prepare your home for the market.
4. Be sure the professional shows enthusiasm, listens well, instills confidence and has a personality that is complementary to yours.
5. The agent should have already researched the property and can provide data on nearby homes that have or have not sold recently.