Do I need a Realtor to buy a home? This is a question that many home buyers ask. Being that Realtors are trained real estate professionals, conventional wisdom tells us that they can certainly help you find the right home.
Realtors have many tools at their disposal, including access to real estate databases and networks such as the MLS. This allows real estate agents to create targeted lists of possible homes based on the home buyer's criteria. So, does this mean a Realtor's services are necessary when buying a home?
Do I Need a Realtor to Buy a Home?
The terms "Realtor" and "real estate agent" are often used in the same context. However, this doesn't necessarily mean they are the same, nor can the terms be used interchangeably. A real estate agent is a licensed professional who helps clients buy and sell property. Real estate agents can work as a sales agent, broker, or associate broker. They can also facilitate the transactions of either residential or commercial property. Licensing requirements for real estate agents varies from state to state.
A Realtor, on the other hand, is a licensed real estate agent professional who is also a member of the National Association Realtors (NAR). Being the largest organization of real estate professionals in the United States, NAR has strict requirements regarding who can join. In addition to holding an active real estate license, for instance, Realtors must also be engaged in real estate business, have no bankruptcy, and work for a principle company who is also a member.
No, Realtors Aren't Required, However...
Neither a real estate agent or Realtor is required when buying or selling a home. In fact, some buyers avoid real estate professionals altogether, preferring to do it themselves. However, just because a real estate agent isn't required doesn't mean that their services aren't worth the investment.
Benefits of Using a Realtor to Buy a Home
So, why should you use a Realtor when buying a home? For starters, all Realtors must abide by the NAR's Code of Ethics, which consists of 17 Articles, 71 Standards of Practice and 131 case studies.
As explained on the official Realtor.com website, Realtors have a fiduciary responsibility that's in your best interest. This means you can rest assured knowing that a Realtor will work to find you the perfect home, for the perfect price. Additionally, Realtors can produce guidance and education on home features that would otherwise go unnoticed. This allows buyers to make better decisions regarding which home is right for you.
This article was brought to you by Premier Island Properties - A full service real estate firm serving Hilton Head Island and Bluffton, South Carolina. For more real estate news, information, and interesting facts about the Lowcountry, please visit our website.
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