A Realtor can be a real estate agent, a broker-associate, a managing broker, an exclusive buyer’s agent, etc. They are members of the National Association of Realtors India (NAR-INDIA), which is the top representative body and advocacy group for those in the Real Estate Transaction Advisory encouraging realtors to follow the highest professional and ethical standards in the industry. Realtor is actually a trademarked term. Both the real estate agents and realtors are required to pass agent licensing requirements in their state but the realtors have to additionally pass the NAR Code of Ethics course which makes them apart from real estate agents.
Why choose a Realtor?
Realtors are professionals who work as real estate agents and help buyers to find their desired properties.
Realtors work to sell the property at a suitable cost. They dig deep to analyze the market and try to provide the best price tag to the buyers.
Realtors are experts and they know the applicable strategies to drive more traffic to the real estate property.
They provide services like finding the right property, negotiating the terms and conditions with the seller, helping them in purchasing, provide legal assistance to buyers when it comes to getting title deeds transferred into their name after purchasing properties from sellers.
Realtors ensure that clients get the best interest from the realtors’ services and can provide enormous benefits for the responsibility of selling a home.
They better understand the needs and desires of the buyers and are familiar with current market trends and portfolios.
They possess the best negotiating skills and ease the buying or selling process for their customers.
They generally keep themselves updated with the latest information regarding the new properties that are started by various builders associated with them.
17 standards that a realtor must promise to uphold:
- Treat all parties honestly and put the interests of buyers and sellers before their own.
- Investigate and disclose when situations reasonably warrant it and refrain from exaggerating, concealing, or misrepresenting material facts about a property.
- Cooperate with other agents unless it’s not in the best interests of the client.
- Disclose any personal interest or if they represent family members who own or are about to buy real estate.
- Should not provide any recommending services in a transaction where the agent has a present or contemplated interest without disclosing that interest.
- Should not collect any commissions without the seller’s knowledge, nor accept fees from a third party without the seller’s express consent.
- Refrain from taking fees from more than one party without all parties consent.
- Do not commingle clients’ funds with their own money.
- Ensure that all written documents are easy to understand and make sure everyone has a copy of anything they signed.
- Do not discriminate in any fashion or for any reason on the basis of religion, sex, handicap, familial status, sexual orientation, race, color, gender identity, or national origin.
- Be competent to conform to standards of laws and refuse to provide services for which they are unqualified.
- Avoid false advertising and marketing.
- Do not practice law unless the agent is also a lawyer.
- Cooperate with the Realtor board’s investigative proceedings if charges are brought against them and present all evidence as requested.
- Agree to no false or misleading statements for other agents, and agree to not file unfounded ethics complaints.
- Do not solicit another Realtor’s client who has already signed an agreement, nor interfere in a contractual relationship.
- Submit matters to arbitration for settlement instead of seeking legal remedies in the court system.
Qualities that any real estate dealer must have, such as –
- The realtor should have a huge source of selling the real estate property.
- Try to contact the dealer through the online portal if the dealer has an online presence.
- A genuine real estate dealer does not charge huge amounts from the clients and always charge a negotiable amount for genuine buyers.
- An authentic real estate dealer performs a simple working pattern that helps the clients significantly.
The person is required to be a member of National Association of Realtors’ local real estate associations, pay a one-time application fee, pay annual membership fees to maintain their Realtor status, and must adhere to the National Association of Realtors’ strict Code of Ethics.
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