Page 38 - Flathead Beacon // 4.29.15

38 | APRIL 29, 2015 FLATHEADBEACON.COM
REAL ESTATE
MONTANA LIFESTYLES
Why Use a Realtor? 6 Important Reasons
By NORTHWEST MONTANA ASSOCIATION OF REALTORS
Real estate is a big deal. For most Americans, a home is the most expensive purchase they’ll make in their lifetime. It’s a serious transaction with significant financial and emotional ramifications for the parties involved, and having proper representation is critical.
Today’s buyers and sellers agree. According to a 2012 National Association of Realtors Survey of home- buyers and sellers, a full 89 percent of buyers used a real estate agent, and so did 88 percent of sellers.
Realtor representation during a real estate transac- tion is important for both buyers and sellers. Here are six of the chief reasons:
Fiduciary responsibility. When you work with a Realtor, their fiduciary responsibility is to you. That means you have an expert who is looking out for your best financial interests, an expert who’s contractually bound to do everything in their power to protect you. That’s big — the value of that commitment cannot be overstated. “For more than 100 years, Realtors have subscribed to the NAR’s strict Code of Ethics as a con- dition of membership,” says Northwest Montana Asso- ciation of Realtors President Rob Keller. “Realtors have the expertise and experience to help sellers protect their investment and help buyers build theirs.”
Complex, ever-changing real estate regula- tions. Buying or selling a home is not like purchas- ing a plane ticket. Every home is different, and laws change every year and vary from state to state. Gener- ally speaking, people purchase a new home every sev- en-10 years, and a lot can — and usually does — change between transactions. Realtors are immersed in real estate, and they must stay current with all the updates in regulations, laws, contracts and practices. Once you retain your Realtor, they put that knowledge to work for you.
Help finding the right home, beyond square footage and baths. Browsing online is a terrific way to start a home search — in fact, almost 90 percent of people start their home search online, according to a 2012 NAR survey. But when it’s time to buy, knowing all the pros and cons of a property can help you make the right decision. Realtors live and breathe real estate, and they can share information about a home that you wouldn’t otherwise know. Your Realtor can go beyond
the aesthetics and tell you important details about homes you’re considering.
Pricing and selling a home. There are lots of sites where you can view price estimates for your home be- fore you list it for sale, but you take a risk using them. In some markets, online estimates can be off by as much as 35 percent, and they often rely on tax records and data that can be as old as six-12 months. This is es- pecially true in non-disclosure states, like Montana, where the sold price of a property is not publically ac- cessible. Realtors know the local market, have access to the freshest sale data, and can price your house in line with the market to maximize your earnings. In 2012, according to an NAR survey, sellers using an agent got $40,100 more: The median sale price for the 88 percent of sellers who worked with an agent was $215,000, ver- sus a median sale price of $174,900 for the 9 percent of sellers who didn’t use an agent.
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Contracts and negotiations. Finding the right home is the fun part. Then the real work begins. To- day’s contracts can be long and intricate and detailed, including addendums and amendments. Realtors can help you navigate these complex documents and craft an attractive offer that makes sense for you. Plus, when it comes to negotiation, your Realtor is your advocate and can bring an objective voice to a very subjective situation.
Following a code of ethics. When you work with a Realtor, you’re partnering with a professional who op- erates according to a strict code of ethics. In place for over 100 years, the Realtor Code of Ethics ensures that consumers who work with a Realtor are treated profes- sionally and ethically in all transaction-related mat- ters.
Thinking of selling or buying? Contact your local Realtor to help you with this significant transaction.
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