Sussex County Association of REALTORS^®
Bi-Monthly Real Estate Article
The Sussex Countian and Milford Beacon

A rose by any other name may smell just as sweet in the world of the bard, but the same is not true in the real estate world.

A “real estate agent” is defined as a person who is licensed by the state to represent the buyer or seller in a real estate transaction. It's a general term that covers any real estate practitioner who holds a current real estate license.

The term REALTOR^® refers exclusively to real estate professionals who are active members of a local, state and National Association of REALTORS^® (NAR), the largest real estate trade organization in the United States with over 1.2 million members.

Why should you, the consumer, care about the title of your real estate professional?

In a word: accountability.

All REALTORS^® must adhere to a strict code of ethics designed to protect the interests of consumers and generally elevate the standards of the industry. While all real estate professionals must adhere to applicable laws, REALTORS^® voluntarily agree to hold themselves to a higher standard.

Why should you work with a REALTOR^®?

For the same reasons that you might seek a professional attorney to draft a will or work with a licensed financial planner to protect your investments. Sure, you could always attempt to do those things on your own, but working with a licensed expert who must uphold professional standards provides a sense of security.

So what exactly does a REALTOR^® do if you're selling your home?

• Helps you set a selling price based on a Comparative Market Analysis (CMA) that compares your home to other similar homes in your area that have sold recently
• Promotes the sale of your house by listing your home in the Multiple Listing Service and advertising
• Fields inquiries about your property to weed out unqualified buyers
• Steers you around potential problems by ensuring your compliance with applicable laws and contract terms, including disclosures and inspections
• Negotiates on your behalf to obtain the best possible price and the most favorable terms for your property

What can you count on your REALTOR^® to do if you are buying a home?

• Help you prequalify for a home, so you will know up front what homes you can and can't afford, and prepare you for what banks and mortgage lenders will require
• Show you a variety of homes that meet your criteria, including homes listed with other agents or other companies
• Inform you honestly of any drawbacks or potential trouble spots in any properties
• Provide you with a CMA for any home you are interested in, so you will be able to see what other similar homes in the area have sold for recently
• Work diligently on your behalf to help you negotiate the best price and the best terms for your situation
• Assist you with your preparations for closing, including scheduling inspections and working with your lender

A REALTOR^® has the knowledge, resources, experience and professionalism you need to get the best service available whenever buying or selling a home.

The Sussex County Association of REALTORS^® (www.scaor.com) is one of four professional REALTOR^® trade associations in Delaware for individuals involved in the real estate industry and allied industries and firms. With membership of over 1,300 REALTORS^® from more than 100 real estate offices in Sussex County and surrounding areas, SCAOR provides products, programs and services for its members. SCAOR is located at 23407 Park Avenue in Georgetown and can be reached at (302) 855-2300.