REAL ESTATE OVER COFFEE – The Value of a REALTOR® in Buying a Home
Aug 28, 2024 02:08PM ● By Jeannie Quick, Sunflower Real Estate Group
The landscape of buying a home is quickly evolving, but a REALTOR® has the training, skills, and knowledge to accompany buyers on their journey to homeownership. We remain committed to transparency in creating a working relationship built on trust and respect that is in the best interest of the buyer.
- We educate buyers on representation agreements, state legal requirements and the REALTOR® code of ethics.
- We explain how agent compensation is paid, who pays it and what the buyers’ options are for paying it.
- We inform buyers of state and federal fair housing laws.
- We offer expertise and resources on choosing a quality mortgage lender so buyers can qualify for a loan.
- We explain the conditions of the local market, including inventory and current listing prices.
- We keep buyers’ wishes and budget firmly in mind when locating potential homes.
- We immediately alert buyers of new properties when they come on the market, and schedule showings as soon as possible.
- We network with family, friends, and other agents to find homes that will soon become available for sale.
- We share our knowledge and resources about neighborhoods, schools, zoning laws, crime statistics, and sex offender registries.
- We help buyers understand property taxes, homeowners’ association dues, and utility costs.
- We commit to full disclosure of any known property defects.
- We review a sample sales contract with buyers to prepare for making an offer.
- We prepare a competitive market analysis in crafting a negotiating strategy prior to making an offer.
- We explain contract contingencies and approved protective clauses to include in the offer.
- We educate buyers on required and optional inspections for such issues as environmental matters, roofing concerns, and mold.
- We negotiate costs with the seller to repair issues found in the home inspection report.
- We explain flood insurance and title insurance and refer buyers to a qualified insurance broker.
- We order the appraisal, title search, and any needed surveys.
- We review closing figures and documents with the attorney who serves as the closing agent.
- We advocate for buyers during EVERY step of the homebuying journey, celebrating with them when they close on their new home.
Information from Illinois Realtors®