What Does a Realtor Do and Why You Need One
- Melisa Chiacchieri
- Jan 16
- 6 min read
Considering buying or selling a home? You’ve likely come across the term Realtor, but you might be asking yourself, "What exactly do they do, and why do I need one"?
In short, a Realtor is a licensed professional who helps you buy, sell, or rent property. But there’s a whole lot more to it than that. First, did you know not all real estate agents are Realtors
Real Estate Agent: A real estate agent is a licensed professional who helps people buy, sell, or rent properties. They must complete the necessary training and pass a licensing exam in their state or region to practice real estate. Real estate agents work for a brokerage, which provides them with resources and support.
Realtor: A Realtor is a specific type of real estate agent who is a member of the National Association of Realtors (NAR), a professional trade association. Realtors adhere to a strict code of ethics and standards of practice beyond those required by law. While all Realtors are real estate agents, not all real estate agents are Realtors.
The key difference is membership in the NAR, which provides Realtors with additional resources and ethical guidelines.
Let's delve beyond the definitions to explore the true role of a Realtor and understand why they can be valuable.
Market Knowledge
Realtors are highly knowledgeable professionals who specialize in the intricacies of the housing market. Their expertise covers a wide array of factors that influence real estate transactions.
Realtors possess a deep understanding of current market conditions, neighborhood dynamics, and property values. In and ever-evolving housing sector, they know exactly what homes are selling for in different areas, allowing them to provide insights that are pure gold! For instance, they can pinpoint:
Areas experiencing a surge in demand
Neighborhoods that may be losing their charm
shifts in buyer preferences and mindset
emerging market opportunities
which areas seeing price reductions and which are experiencing multiple offers
With this information at their fingertips, they can offer strategic advice tailored to each client's unique situation, ensuring you’re always one step ahead!
Comprehensive Market Analyses
Realtors are equipped to conduct thorough market analyses that assess the value of individual properties based on various criteria, such as:
Location
Size
Condition
Recent sales data
This analysis is crucial for buyers, helping them avoid overpaying for a home by providing a solid benchmark for property prices. For sellers, a detailed market analysis allows you to accurately price your home according to current trends, saving you from an extended time on the market, price reductions or underpricing your home, leaving money on the table.
With their expertise, Realtors can create competitive pricing strategies that maximize potential returns for sellers while ensuring buyers make sound financial choices. It’s a win-win situation!
Negotiation
The art of getting the best deal. Whether you’re buying or selling, a Realtor is your negotiator-in-chief. They’ll help you come up with a competitive offer, handle counteroffers, and make sure you’re not getting stuck with terms that don’t work in your favor.
Negotiating isn’t just about price—it’s also about closing dates, inspections, contingencies, and other important details. A Realtor ensures you’re covered, so you don’t get any surprises down the road. Negotiation can also take quite a bit of time with all the back and forth. Letting your Realtor handle the negotiations allows you to spend your time on your daily tasks and responsibilities.
Paperwork
Trust me, there’s a lot of it! Contracts, disclosure forms, inspection reports, and more. And each one has to be filled out correctly, with legal implications if anything goes wrong.
Teaming up with a Realtor allows you to relax as they expertly manage all the paperwork. They ensure every document is accurate, complete, and submitted on time. With their professional guidance, you’ll navigate each step effortlessly, without worrying about missing important details or deadlines. If any issues arise, your Realtor is prepared—they have specialized insurance to address any errors, relieving you of significant legal burdens. That’s true peace of mind!
Access to the MLS
Partnering with a Realtor not only provides you with expert guidance but also grants you access to their extensive network and the local Multiple Listing Service (MLS). The MLS is a vital database utilized by real estate professionals to share detailed information about properties available for sale. This powerful tool enables real estate agents to collaborate effectively, offering a comprehensive and up-to-date list of properties and their status.
Other Benefits of the MLS:
Exposure: Listing properties on the MLS provides sellers with enhanced visibility. This platform connects their property with a vast network of real estate agents, increasing the chances of attracting potential buyers. Additionally, the MLS often collaborates with other real estate focused websites that push the information out to the general public (with seller consent) For buyers, Realtors can create tailored searches through the MLS, enabling them to receive immediate notifications when new homes that match their criteria become available on the market. Utilizing the MLS ensures that buyers access the most current information, giving them a competitive advantage over those relying on third-party sources that may not update as quickly.
Access and Rules: Access to the MLS is typically restricted to licensed real estate agents and brokers who are members of the MLS organization. By joining the organization there are specific rules, regulations and fees members agree to. These regulations ensure that the integrity of the listings is maintained and that all members adhere to a standard of professionalism. By following these guidelines, agents can provide their clients with accurate and up-to-date information, which is essential in navigating the complexities of the real estate market.
In essence, the MLS acts as a centralized system that benefits buyers, sellers, and agents by making the process of buying and selling real estate more efficient.
Connections
Finding your next home isn’t just about the house—it’s about the community. Realtors have local connections that can help you throughout the process. Whether it’s recommending trusted lenders, contractors, inspectors, or even helping you become familiar with amenities and aspects of a neighborhood, they’re your local guide.
A great Realtor knows the ins and outs of your area and can help you find a home that fits your lifestyle—not just your budget. For example if you don't have a car and don’t want to get one, they can help you focus on areas with public transportation or amenities like restaurants and shops within walking distance. Or if you don’t want to live in an HOA your Realtor will be able to guide you to homes in communities that are HOA free.
As you embark on the journey of purchasing your new home, you will encounter various situations where the expertise of professionals will be invaluable. Your Realtor can offer you a list of trusted experts to assist with essential tasks such as, obtaining financing, home inspections, managing title and closing documents, obtaining legal advice, and more. While the recommendations from your Realtor serve as an excellent starting point, it is important to conduct your own research and select providers with whom you feel comfortable and confident.
Emotional Support
Let’s not overlook the emotional aspects of real estate transactions. Buying or selling a home is one of the most significant financial decisions you will ever make, and it can often be a stressful experience. A wide range of emotions may arise throughout the process—excitement, anxiety, and perhaps even a touch of buyer’s remorse.
A professional Realtor is there to help you navigate these feelings and maintain a sense of calm. They provide guidance to ensure that your decisions are based on facts rather than emotions. Acting as your sounding board, support system, and trusted advisor, a Realtor ensures that you are never alone in this journey. With their expertise, you can approach the process with confidence and clarity.
Ultimately, the guidance of a knowledgeable Realtor can significantly enhance your real estate experience, making it smoother and more successful for both buyers and sellers alike. Whether you’re looking to buy your dream home or sell your property for top dollar, partnering with a Realtor is the way to go!
They’re there to guide you, protect you, and make sure you have the best possible experience. And let’s face it—you deserve that, right?
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