7 Reasons You Should Sell with a REALTOR®

REALTORS® aren’t just agents. They’re professional members of the National Association of REALTORS® and subscribe to its strict code of ethics. This is the REALTOR® difference for home sellers:

1. Ethical Treatment

Every REALTOR® must adhere to a strict code of ethics, which is based on professionalism and protection of the public. As a REALTOR®’s client, you can expect honest and ethical treatment in all transaction-related matters. The first obligation is to you, the client.

2. An Expert Guide

Selling a home usually requires dozens of forms, reports, disclosures, and other technical documents. A knowledgeable expert will help you prepare the best deal, and avoid delays or costly mistakes. Also, there’s a lot of jargon involved, so you want to work with a professional who can speak the language.

3. Objective Information and Opinions

REALTORS^® can provide local information on utilities, zoning, schools, and more. They also have objective information about each property. REALTORs^® can use that data to help you determine if the property has what you need.

4. Property Marketing Power

Property doesn’t sell due to advertising alone. A large share of real estate sales comes as the result of a practitioner’s contacts with previous clients, friends, and family. When a property is marketed by a REALTOR^®, you do not have to allow strangers into your home. Your REALTOR^® will generally prescreen and accompany qualified prospects through your property.

5. Negotiation Knowledge

There are many factors up for discussion in a deal. A REALTOR^® will look at every angle from your perspective, including crafting a purchase agreement that allows you the flexibility you need to take that next step.

6. Up-To-Date Experience

Most people sell only a few homes in a lifetime, usually with quite a few years in between each sale. Even if you’ve done it before, laws and regulations change. REALTORS^® handle hundreds of transactions over the course of their career.

7. Your Rock During Emotional Moments

A home is so much more than four walls and a roof. And for most people, property represents the biggest purchase they’ll ever make. Having a concerned, but objective, third party helps you stay focused on the issues most important to you.

REALTOR® Magazine | RealtorMag.Realtor.org | National Association of REALTORS | Copyright 2015. All rights reserved.

Preparing for a Short Sale

A short sale is one where the net proceeds from the sale won’t cover your total mortgage obligation and closing costs, and you don’t have other sources of money to cover the deficiency. It’s significantly different from a foreclosure, which is when your lender takes the title of your home through a lengthy legal process and then sells it directly. A short sale is sometimes the route sellers take to avoid foreclosure.

Consider Loan Modification First

Contact your lender to see if it has programs to help you stay in your home. You may be able to refinance your loan at a lower interest rate, switch to a different payment plan to help you get caught up, or secure a temporary forbearance period.

Hire a Qualified Team

Find a qualified real estate agent and a real estate attorney who both specialize in short sales. Interview at least three candidates for each and look for prior short-sale experience. Find people who will advise you in your best interests. A qualified real estate professional can give you accurate pricing advice through a comparative market analysis or broker price opinion. The team will also be able to expertly market the home, negotiate complex contracts with buyers, and ease the process of working with your lender(s).

Get Lender Approval

You can’t sell short without your lender (and any other lien holders) agreeing to the sale and releasing the lien so that the buyers can get clear title. This is another task where your team will be indispensible.

Gather Documentation

Your lender requires several documents in order to consider a short sale. This package accompanies the offer, typically including:

• A hardship letter detailing your financial situation and why you require a short sale
• A copy of the purchase contract and listing agreement
• Proof of your income and assets
• Copies of your federal income tax returns for the past two years

REALTOR® Magazine | RealtorMag.Realtor.org | National Association of REALTORS | Copyright 2015. All rights reserved.