Whether you plan to buy a home or put one on the market, you will likely want to seek out help in the form of a realtor. Realtors are real estate professionals who have the experience and skills you need to achieve your real estate goals. A realtor can help you get through the process of buying or selling a home and will help you avoid potential pitfalls. Here are three things to know if you plan to work with a realtor.
Realtor Versus Real Estate Agent
The first thing you should know when it comes to realtors is how they differ from real estate agents. While real estate agent and realtor may be used interchangeably, there are a few differences. Realtors are a part of the National Association of Realtors (NAR) and follow that organization's code of ethics. While not all real estate agents may be realtors, many are. While real estate agents and realtors perform similar jobs, you may find that you prefer the additional certifications that a realtor has.
Realtors Work Via Commission
Another thing that you need to know about working with a realtor is how they are paid. Realtors work via commission, usually paid by the seller, and it is something you can negotiate if you are a seller. Usually, a realtor's commission is between 5 and 6 percent of a home's sale price. If you are a buyer, you won't have to worry about paying a commission. If you are a seller, you will likely only need to deal with the commission if your realtor successfully sells your home.
Talking To Multiple Realtors Is A Good Idea
There are many realtors, but not all of them will be the right fit for your goals. If you want to work with a realtor, taking the time to interview multiple candidates is a necessity. When talking to a prospective realtor, don't be afraid to ask a lot of questions. You will want to know what kind of clients they typically work for and what properties they specialize in. The more questions you ask, the easier it is to find the right fit.
If you plan to work with a realtor, there are a few things to know. First, realtors are different from real estate agents and have a code of ethics from the NAR. Second, realtors work via commission, which the seller typically pays. Finally, interviewing multiple realtors before deciding on one is a good strategy.