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The Role of a Realtor in the Real Estate Transaction

A REALTOR is a licensed real estate broker or agent who has taken additional steps to become a member of the local Board of Realtors and has agreed to act under and adhere to a strict Code of Ethics. A REALTOR, whether acting as an agent for the seller or buyer, is bound by the Code of Ethics to give fair treatment to all parties in the transaction. Some of the services you should expect from a REALTOR include:

  • A complete understanding of the type of property that will best meet your needs and wants.
  • Assisting in determining how much home you can afford.
  • Researching the market for suitable properties.
  • Showing properties and soliciting your feedback.
  • Preparing the Sales Contract.
  • Assisting with the arranging of financing.
  • Interacting with other REALTORS, lending institutions, and attorneys from the agreement through closing.

When selecting a REALTOR, some of the qualities you should consider are the REALTOR's knowledge, perseverance, enthusiasm, his or her ability to keep you informed on a regular basis, the reputation of the office and its cooperation with outside agents. Another important consideration is the emphasis both the agent and the office place on training and continuing education.

The goal of the REALTOR and the buyer is to find a property which meets the buyer's needs, within his/her budget and time frame and bring the sale to closing in a timely fashion. There are four ways that you, the buyer, can greatly assist in this effort.

  • Be loyal to one REALTOR. Select a REALTOR you feel comfortable with and direct all inquiries to that person. Once assured of the loyalty of the buyer, a REALTOR will spend unlimited time, effort, and energy to see that buyer happily relocated.
  • Give the REALTOR as much information as possible about the type of property desired, the urgency of relocation, and details on your income and debt levels which will affect your ability to qualify for a mortgage.
  • Let your REALTOR who is a member of a Multiple Listing Service (MLS) investigate all ads. It is not necessary to call each office to see its listings. Your REALTOR has the same information and can obtain prompt assistance from a fellow REALTOR.
  • Be frank with your REALTOR about the price range and your reaction to each property to avoid confusing the picture and making your search for the right home difficult.
  
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