The Importance of Hiring a REALTOR®: Understanding Who They ‘R’ and What They Do

Real estate transactions likely account for the biggest and most significant financial decisions that you’ll make during your life. Whether you are buying your first home, selling a property, or you’ve been on both sides of the closing table, having a knowledgeable, professional resource on your side is critical. This is why working with a knowledgeable and professional REALTOR® is so important. Representing their clients and acting as a true fiduciary is what REALTORS® are trained to do, and it is all based on the foundations in the Code of Ethics. While many people can pass a course to obtain a real estate license, the level of service that home buyers and sellers demand and deserve requires the commitment, experience, and expertise of an official REALTOR®, but what’s the difference?

The key difference in performance and ability that sets a REALTOR® apart is the NAR’s Code of Ethics. Every leading organization or group of professionals has a foundation that represents what they stand for. Without these foundations the legacy, integrity, advantage, competitive difference, and drive toward continued improvement is nearly impossible to have. For professional real estate agents, specifically REALTORS®, this foundation is the REALTOR’S® Code of Ethics. 

The REALTOR’S® Code of Ethics provides a method for protecting both buyers and sellers of real estate. The REALTOR’S® Code of Ethics features 17 articles containing detailed rules and standards of conduct. It is designed to ensure that REALTORS® will act accordingly in a number of scenarios and situations, protecting their clients with competency and integrity. The expectation is for REALTORS® to use all available knowledge and experience and apply it to every transaction. Achieving the best possible results for a client is the focus of the REALTOR’S® Code of Ethics.

Beyond that guiding principle, the rest of the articles included in the code are constructed to achieve the client’s goals. Overarching themes of honesty, cooperation, communication, and fairness are interwoven throughout and REALTORS® are required to maintain that commitment in upholding the principles. While a REALTOR’S® fiduciary duty is the overarching benefit of your relationship, here are some more specific benefits of working with a REALTOR®.

Contracts and Negotiations

Real estate transactions include complex and complicated legal forms and processes. Be sure that the REALTOR® representing you understands these processes, and they take the time to inform, advise, and negotiate on your behalf to ensure that your investment is as successful as possible. In Louisiana, there is a statewide buy/sell agreement that is mandated for use by all professionals.

Market Expertise and Consultation

If you’re shopping for a new house, your job is to know what you want; your REALTOR’S® job is to know where and how to find it. If you’re selling your home, it is their job to get you the best offer possible and work to close the transaction in a timely manner. Both sides of the process are improved when you have someone on your side that understands the market and has great communication skills. There are a lot of other factors that go into the purchase or sale of home other than the number of bedrooms and total square feet. Being knowledgeable and resourceful about property tax regulations, school districts, nearby amenities, and many other elements all provide a clearer picture for you as a client.

Real Estate Regulations

Staying current on changing real estate laws is a full-time job in itself. If you are moving from state-to-state or simply across town, there can be a wide array of laws and regulations that you need to be aware of. This is your REALTOR’S® job. They are a well versed and immersed in real estate regulations and will be aware of any and all pertinent information for your transaction.

By working with a professional REALTOR®, your buying or selling experience can be vastly improved. Choose to work with someone committed to the Code of Ethics along with the skill, talent, and expertise that REALTORS® possess and employ in order to effectively serve their clients. These abilities and having industry experience, means that you can have the peace of mind that your best interests and goals are at the forefront of every decision.