Why Work With a Local Realtor?

ACCESS TO MLS –The Multiple Listing Service

Local Realtors have access to the MLS system, which is the most comprehensive and accurate home finding site. This is important when purchasing in a competitive market.

PROPERTY COMPS -Comparables

Local Realtors know the market and will provide you with comparable properties that have recently sold. This helps you determine your offer price so you don’t over pay for a piece of property.

AREA KNOWLEDGE

Local Realtors know the area, the neighborhoods, the community and its resources. This saves you time as they can direct you to areas based on your needs and wants.

BUYER REPRESENTATION

A Buyer’s representative will assist you in reviewing property. Should you decide to make an offer, they will assist you with the contract, negotiations and inspections. This is where the Realtors knowledge is a vital resource.

FOR SALE BY OWNERS

A Realtor will know if a For Sale By Owner is asking a fair price for their property. Many For Sale By Owners will pay a Realtor a commission for bringing a Buyer. If the Seller will not pay the commission, many Buyers will pay to have the representation needed to protect their interests.

REALTOR CODE OF ETHICS

Each Realtor must abide by a Code of Ethics. Here are the Basic Principles:

  • Protect and promote your client’s interests, but be honest with all parties.
  • Avoid exaggeration, misrepresentation, and concealment of pertinent facts.
  • Do not reveal facts that are confidential under the scope of your agency relationship.
  • Cooperate with other real estate professionals to advance your client’s best interests.
  • When buying or selling, make your position in the transaction or interest known.
  • Disclose present or contemplated interest in any property to all parties.
  • Avoid side deals without your client’s informed consent.
  • Accept compensation from only one party, except with full disclosure and informed consent.
  • Keep the funds of clients and customers in escrow.
  • Assure, whenever possible, that transactional details are in writing.
  • Provide equal service to all clients and customers.
  • Be knowledgeable and competent in the fields of practice in which you ordinarily engage.
  • Obtain assistance or disclose lack of experience if necessary.
  • Present a true picture in your advertising and other public representations.
  • Do not engage in the unauthorized practice of law.
  • Be a willing participant in Code enforcement procedures.
  • Ensure that your comments about other real estate professionals are truthful, and not misleading.
  • Respect the exclusive representation or exclusive brokerage relationship agreements that other realtors have with their clients.
  • Arbitrate contractual and specific non-contractual disputes with other realtors and with your clients.

For full text, refer to Code of Ethics and Standards of Practice of the NATIONAL ASSOCIATION OF REALTORS.