Step 3: Hiring a REALTOR®

Ten Steps to the Successful Completion of the Home Buying Process

As you have no doubt guessed, buying and selling a home can be a complex matter if you do not rely on the advice of professionals who have experience with the process. Although you can certainly find a home without the assistance of a professional, only a REALTOR® can help you get the best results by helping you navigate the complicated maze of forms, financing, inspections, marketing, pricing and negotiating that make up the home buying process.

As a result, it makes sense to work with a professional REALTOR® who knows the ins and outs of buying and selling real estate in your community. In every community, you are likely to find a number of real estate brokerages that are eager to compete for your business.

A REALTOR® is a licensed real estate professional who is a member of the National Association of REALTORS® and subscribes to its strict Code of Ethics, which obligates REALTORS® to be honest with all parties involved in a transaction, whether it is the buyer, seller or cooperating agent. Unfortunately, not all real estate agents are REALTORS®.

REALTORS® also have access to educational opportunities and training in real estate specialties that are not available to other real estate agents. Through membership in affiliated institutes, societies and councils, REALTORS® devote themselves to continuous study of the most recent trends in their fields to stay abreast of industry developments in their specialized areas and better address industry issues.

If you would like to start this process and find a REALTOR®, the simplest method is to search a list of REALTORS® in your area by clicking here. In many cases, buyers will interview several REALTORS® before selecting the one professional with whom they want to share their home buying experience. Please click here to access a list of questions that you should ask any potential REALTOR®.

These interviews represent a good opportunity to consider such issues as experience, representation, training and professional designations. In doing so, you should look for information about potential REALTORS® through multiple sources, including open houses, local advertising, websites, referrals from other REALTORS® and suggestions from trusted friends and neighbors.

Once you have selected a REALTOR®, you will want to form an effective business relationship with them and establish the ground rules and expectations for your relationship. Each REALTOR® will explain the representation options available to you, describe how he or she typically works with individuals and provide you with agency disclosure forms that describe the details of your business relationship.

Once they have been hired, a REALTOR® will provide you with detailed information regarding current market conditions, financing options and negotiating issues that might apply to your particular situation. For a more detailed discussion on the advantages of hiring a REALTOR® to assist you with the home buying process, please refer to the “Why Use a REALTOR®?” section of this website.