Is Hiring a Broker Worth the Expense?
by Mary E. Crowley,CRB, GRI
1998 President of the Massachusetts Association of REALTORS^®
1979 - 1980 President of the Cape Cod & Islands Association of REALTORS^®, Inc.

"FOR SALE BY OWNER" may be the four most tempting words in the world to a homeowner who feels the need to earn every penny from the sale of his or her property. A "for sale" sign, a classified advertisement, and a telephone seem to be the only tools necessary for you to get under way.

Likewise, buyers may be tempted to think they can find the home of their dreams armed with a recent homes-for-sale magazine and a road map. But rarely do these solo ventures yield the sweet success envisioned by the thrifty consumer.

Buyers and sellers are clearly better served when a real estate professional is engaged to assist in the sale or purchase of a property.

A listing agent engaged to help you sell your home works with you in a number of capacities, including determining your asking price. It is the listing agent who researches the sale prices of similar homes in your area to show you what you might reasonably expect to garner from the sale of your property.

The listing agent will assist you in making your home presentable for sale, offering suggestions about how to best show the property and what, if any, improvements ought to be made before putting the property on the market.

The listing agent will inform the seller about laws and regulations such as fair housing requirements, septic regulations and lead paint laws. Any forms or disclosure documents required by law can be obtained through the agent. The listing agent will provide you with a yard sign, and advertising - at no extra cost.

It is the behind-the-scenes work of your listing agent, however, that may matter most in procuring a buyer for your property. The agent most likely will conduct an open house viewing of your home, not only for the public, but for other real estate agents who may know about a potential buyer. The listing agent works hard to market properties of various kinds in an effort to bring many buyers into his or her office. Listing agents keep abreast of what other properties in your community are for sale, and how that might affect activity at your home, or the price of your home.

Your listing agent is your advocate during sale negotiations, presenting offers to you and counseling you about the qualifications of potential buyers. It is the listing agent who will assist in coordinating deadlines and closing dates, making sure all documents are signed, sealed and delivered on time.

Buyer's agents, as well as subagents perform many of the same functions on behalf of clients looking to purchase a home. They help buyers determine how much they can afford to spend, research properties available on the market within their price range, and provide important disclosures about the property being shown.

Like listing agents, subagents and buyer's agents also can assist prospective buyers in completing legal forms, reviewing the purchase and sale contract, and presenting the offer.

Today, the purchase of a sale or home is an enormous undertaking, filled with complex issues - both legal and financial. Consumers should know that REALTORS^®, those agents who have voluntarily joined a professional trade association and abide by a national Code of Ethics, are specially trained to attend to all aspects of each transaction, and their experience as professionals works for the buyer or seller they represent.

The REALTOR^®'s commission is a small price to pay for the security of knowing your real estate transaction is being ushered through the process by a professional who is trained to foresee potential problems and who will work hard to find solutions that satisfy you.

WHO IS A REALTOR^®?

REALTOR^® - A registered collective membership mark that identifies a real estate professional who is a member of the NATIONAL ASSOCIATION OF REALTORS^® and subscribes to a strict Code of Ethics.

The Cape Cod & Islands Association of REALTORS^®, Inc. provides members with educational classes and seminars to help inform REALTORS^® about the continually changing real estate industry.

Real estate professionals must be knowledgeable in many different areas: Lead Paint, Urea Formaldehyde Foam Insulation (UFFI), Chapter 21E (Hazardous Waste), Chapter 93A (Consumer Protection), Chapter 91 (waterfront structures), Fair Housing, and Agency, to name just a few.