That “For Sale” sign holds a secret. Homes sold by Realtors consistently fetch a premium, often 20% higher than FSBO. The key? A Realtor’s access, ethics, and expert negotiation. Before you list, learn how this credentialed professional turns your biggest asset into your best deal.
When buying or selling a home, one name often comes up in conversation: Realtor. But who is a Realtor, and how do they help with what can be one of the most important financial decisions of your life? Whether you are buying your first home or selling your property, understanding the role of a Realtor is key to navigating the often tough and competitive real estate market.
In 2023, the global real estate market was valued at about $4.5 trillion and is expected to grow by 5.2% each year from 2024 to 2030. In the UK, nearly 95% of buyers and sellers use professional agents for their real estate deals, highlighting the importance of Realtors in the market.
Realtors are not just salespeople; they are experienced professionals who provide knowledge, negotiation skills, and access to resources that help buyers and sellers make informed choices. Data shows that homes sold with the help of an agent usually go for 20% more than those sold by the owner alone. This shows how valuable it is to work with a Realtor.
What is a realtor?
Before discussing how Realtors help with buying and selling homes, it’s important to define what “Realtor” means. A Realtor is a licensed real estate professional who belongs to the National Association of Realtors (NAR) in the United States or similar groups in other countries. While all Realtors are real estate agents, not all agents are Realtors.
The difference comes from the ethical standards and duties that Realtors follow, especially the Realtor Code of Ethics. This code sets strict guidelines that ensure Realtors put their clients’ best interests first, acting with honesty, transparency, and fairness. As a result, Realtors must meet a higher standard of practice than non-Realtors, which can give clients confidence when making important decisions about buying or selling a property.
For buyers and sellers seeking trusted local expertise, working with an established firm like Davies Property can provide professional guidance, market insight, and ethical representation throughout every stage of the transaction.
Real estate agent vs. realtor: What’s the difference?
While many people use the term “real estate agent” to mean the same thing as “Realtor,” there is an important difference. A real estate agent is anyone who holds a license to help people buy or sell property. However, they do not have to be members of the National Association of Realtors or follow the NAR’s code of ethics.
In contrast, a Realtor is a real estate agent who is licensed and also follows the ethical standards set by NAR. These standards ensure that Realtors act in their clients’ best interests and offer a higher level of accountability. When you work with a Realtor, you can trust that they are committed to ethical practices while assisting you in the complex process of buying or selling a home.
What do realtors do?
Realtors perform a wide range of tasks depending on whether they are representing the buyer or the seller. Below are some of the key responsibilities of Realtors and how they help with the buying or selling process.
1. Helping buyers find the right home
For those looking to purchase a home, a Realtor acts as a guide to help you navigate the vast real estate market. Whether you’re a first-time buyer or a seasoned investor, Realtors provide valuable insights into the current market trends, local neighbourhoods, and the overall home-buying process.
They assist with:
- Identifying your needs and wants: A Realtor helps define what you need in a home, from location to size, style, and amenities. They help narrow down your options based on your budget and preferences.
- Access to listings: Realtors have access to the Multiple Listing Service (MLS), an extensive database of homes that are for sale. This gives them access to more properties than the public may see online, ensuring they can find you the best options.
- Negotiating the price: Once you find a property you love, your Realtor will help negotiate the price. Their expertise ensures you don’t overpay and that the terms of the sale align with your best interests.
- Guidance through inspections and appraisals: A Realtor will help coordinate home inspections and appraisals, advising you if there are any issues that need attention before finalising the sale.
- Handling paperwork: Buying a home involves a mountain of paperwork, from contracts to disclosures. A Realtor will guide you through the entire process, ensuring everything is completed correctly.
2. Helping sellers sell their homes
If you’re looking to sell your property, a Realtor can help you get the best possible price by using their market knowledge, negotiation skills, and marketing expertise. They can offer invaluable advice on how to prepare your home for sale, ensuring it stands out in a competitive market.
They assist with:
- Setting the right price: They conducts a comparative market analysis (CMA) to evaluate your home’s value. By studying recent sales of similar properties in the area, they can help you set a realistic asking price that will attract buyers.
- Staging and marketing: They know how to make your home look its best. They may recommend staging the property or suggest repairs to improve its appeal. They will also handle the photography, create compelling listings, and promote your home on various platforms to reach potential buyers.
- Hosting open houses and showings: A Realtor will schedule and host open houses and private showings, ensuring that prospective buyers can see the property in its best light.
- Negotiating offers: When offers start coming in, your Realtor will help you review them and negotiate the best deal. They act as intermediaries between you and the buyers, handling counteroffers and ensuring all terms are met.
- Managing the closing process: Once an offer is accepted, Realtors help with the closing process, ensuring all necessary documentation is completed and deadlines are met.
3. Providing expert advice and support
Throughout the buying or selling process, Realtors are there to offer expert advice and support. They are often the first to know about market trends, lending changes, or new laws that could affect your transaction. Realtors can help you make informed decisions based on current market conditions, ensuring you get the best possible deal.
They are also skilled in managing emotional aspects of the transaction, particularly for first-time buyers or sellers. Buying and selling a home is a big deal, and having someone with experience by your side can help alleviate stress and provide clarity.
4. Managing the legal and regulatory process
Real estate transactions involve numerous legalities, from contracts to disclosures, and Realtors ensure that everything is handled correctly. They work with other professionals, such as mortgage brokers, appraisers, and attorneys, to make sure all legal requirements are met.
Realtors are trained to help identify any potential issues in contracts, agreements, or paperwork. They ensure that the process complies with all laws and regulations, reducing the risk of legal trouble down the road.
Why should you work with a realtor?
There are many benefits to working with a Realtor, especially when it comes to buying or selling property. Here are a few reasons why you should consider hiring one for your next real estate transaction:
1. Expert knowledge of the market
Realtors are well-versed in the local market, and they have the expertise to help you navigate it. They stay updated on market trends, property values, and the latest developments, which can help you make informed decisions.
2. Professional negotiation skills
Negotiating the price of a home can be tricky, but Realtors are skilled negotiators who work to get you the best deal. They are experts at managing offers, counteroffers, and contract terms, which can be crucial in competitive markets.
3. Access to more listings
Through their access to the MLS and professional networks, Realtors have access to more properties than you might find on your own. This gives you a better chance of finding the right home or getting your property in front of more potential buyers.
4. Guidance through a complex process
The home buying and selling process is filled with paperwork, contracts, and deadlines. A Realtor helps you navigate this complex process with ease, ensuring that everything is done correctly and on time.
5. Accountability and ethical standards
As members of NAR or other professional bodies, Realtors must adhere to a strict code of ethics that prioritises the best interests of their clients. This provides added peace of mind, knowing that they are bound to act honestly and transparently throughout the transaction.
Final thoughts
Realtors play an important role in the real estate market, whether you are buying or selling a home. They offer expert guidance, valuable resources, and professional negotiation skills to help you reach your goals. When you work with a them, you gain access to their experience, market knowledge, and ethical standards, which can significantly impact the outcome of your transaction.
So, if you are buying your dream home, selling an investment property, or simply exploring your options, teaming up with a them is a wise decision. They provide expertise and professionalism, giving you peace of mind and helping you navigate the complexities of the real estate world with confidence and ease.
Himani Verma is a seasoned content writer and SEO expert, with experience in digital media. She has held various senior writing positions at enterprises like CloudTDMS (Synthetic Data Factory), Barrownz Group, and ATZA. Himani has also been Editorial Writer at Hindustan Time, a leading Indian English language news platform. She excels in content creation, proofreading, and editing, ensuring that every piece is polished and impactful. Her expertise in crafting SEO-friendly content for multiple verticals of businesses, including technology, healthcare, finance, sports, innovation, and more.
