Working with an experienced REALTOR® can simplify the home buying and selling process for a great experience. The Colorado Association of REALTORS® offers these 12 reasons to use a REALTOR to buy or sell your home.
#1 — To help you determine your home buying power
Buying power is your financial reserves plus your borrowing capacity. If you give a REALTOR some basic information about your available savings, income and current debt, he or she can refer you to real estate lenders best qualified to help you. Most lenders—banks and mortgage companies—offer limited choices.
#2 — Provide resources to assist you in your Colorado home search.
Sometimes the property you are seeking is available but not actively advertised in the market. Your REALTOR has resources and connections to find all available properties.
#3 — Assistance in the selection process.
REALTORS provide objective information about each property. Looking for the perfect Denver neighborhood? Agents who are REALTORS have access to a variety of informational resources to give you community information on utilities, zoning, schools, etc.
#4 — Negotiation
There are myriad negotiating factors, including but not limited to price, financing, terms, date of possession, and often the inclusion or exclusion of repairs and furnishings or equipment. Your REALTOR can help you understand options and negotiate for your best interests.
#5 — Provide due diligence during the evaluation of the property.
Depending on the location and property, this could include inspections for termites, dry rot, asbestos, faulty structure, roof condition, septic tank, and well tests, just to name a few. Your REALTOR can help you find qualified, responsible professionals who will do most of these investigations and provide you with written reports.
#6 — Help you understand your home budget.
Your REALTOR can help you in understanding different home financing options and in identifying qualified lenders. In addition to the mortgage caluclators available through REcolorado.com, your REALTOR can provide further guidance and refer reliable lenders.
#7 — Simplify your Closing.
Your REALTOR can guide you through the closing process and make sure everything flows together smoothly.
#8 — When selling your home, your REALTOR can give you up-to-date information.
REALTORS have access to the most current housing market trends and data on what is happening in the marketplace and the price, home financing, terms and condition of competing properties.
#9 — Marketing your property to other real estate agents and the public.
Your REALTOR is serving as the marketing coordinator, disbursing information about your property to other real estate agents through a Multiple Listing Service like REcolorado or other cooperative marketing networks, open houses for agents, etc. The REALTOR Code of Ethics requires REALTORS to utilize these cooperative relationships when they benefit their clients.
#10 — How to advertise your property.
There is a misconception that advertising sells real estate. Studies from the National Association of REALTORS show that 82% of real estate sales are the result of agent contacts through previous clients, referrals, friends, family, and personal contacts.
#11 — Help you objectively evaluate every buyer’s proposal.
Home sellers need to review home offers without compromising your marketing position. This initial agreement is only the beginning of a process of appraisals, inspections, and financing. Your REALTOR can help you write a legally binding, win-win agreement that will be more likely to make it through the process.
#12 — Your REALTOR can help close the sale of your home.
Between the initial sales agreement and closing (or settlement), questions may arise. Your REALTOR is the best person to objectively help you resolve these issues and move the transaction to closing (or settlement).
Colorado REALTORS offer great value to home buyers and sellers. Not currently working with a REALTOR? Connect with a local real estate agent on REcolorado.com
Originally published in 2018. Updated April, 2021