16 Jun Difference between Realtor and Real Estate Agent
Welcome to those who are new and a big thank you to all of you who have been listening over the last four years.
Today, Deborah Elliot-Shultz discusses the three questions people ask most frequently: What’s the difference between a Realtor and a real estate agent? Is a For Sale By Owner the right way to go? Are the realtor websites accurate and reliable?
What the difference between a Realtor and a real estate agent?
Both of these designations require a person to have passed classes, passed board exams, be licensed by the state of Colorado, and carry insurance. However, Realtors belong to the National Association of Realtors (NAR) as well as belong to their local association. In Colorado Springs, that association is the PPAR (Pikes Peak Association of Realtors). NAR requires that anyone who chooses to become a Realtor agree to their code of ethics. This distinguishing document can be found on the NAR website, if you are interested in reading it.
A real estate agent is not as regulated as a Realtor. The real estate agent basically has a car and a cell phone. For this reason, it is important to always ask your real estate agent if they are also a Realtor and to prove it.
Is a For Sale By Owner the right way to go?
Why not do a For Sale By Owner (FSBO)? If you are going to sell your house yourself then how are you going to list it for people to access? Realtor.com has traffic that a Realtor has access to. Do you know anything about the contracts necessary for the buying and selling of a property? Do you know the dates and deadlines? How will you handle the home inspections? What if there are inspection rejections? What is Title Insurance? Where does the earnest money go? What is earnest money? What about a closing date? If you have time to study to do this, then consider becoming a Realtor. If not, it would be best to consider if hiring a realtor would be a better choice.
There are pros and cons to doing a FSBO. The only pro to doing a FSBO is that you can save money. But if you can’t market your house, then how are you going to access the real estate sites and reach a wide market? Doing a FSBO not for people who know little to nothing about buying and selling a house. Besides, MiaBella Properties’ works to make your real estate experience more affordable with a $3500 flat listing fee. Saving you both time and money.
What about real estate websites?
Have you ever been on Zillow, Trulia, homes.com, or Realtor.com? Realtor.com is the most reliable of these because it contains comparables and other updated information that realtors provide the site. Why are the other sites not as accurate? They grab info from other sources, including FSBO’s because typically these are done by people who are not Realtors. These sites also try to grab some of the information from realtor.com, but the info doesn’t always come through correctly. Also, Zillow has a zestimate feature, but they are being sued because it is not an accurate estimate.
Today’s episode is full of real life examples, lots of information, and helpful ideas for people who are thinking about or are ready to buy or sell their homes. Go to CityofCs.com and follow the real estate links to find out how MiaBella Properties is making your real estate experience more affordable. You can also give Deborah Elliott-Shultz a call at (719) 641-1357 to find out about the $3500 flat listing fee, get a free market analysis, or to ask about anything real estate related.