It Pays to Work With a Realtor

Congratulations on taking your first step to learn more about the value of homeownership in Mississippi. This guide, provided free by the Mississippi Association of REALTORS®, contains information to help you understand the process of buying and selling real estate.

Buying or selling a home can be an exciting endeavor, but without the right knowledge and experience, consumers often feel overwhelmed, confused or stressed by the process.

Work with a REALTOR® and make the process easier. When a REALTOR® represents your interests, you can rely on the knowledge, experience and commitment to fair and honest business practices a REALTOR® brings to the process.

Not all real estate professionals are the same. The term REALTOR® refers only to those real estate professionals who are members of the National Association of REALTORS® and agree to conduct their business by a strict Code of Ethics.

Learn more about why it pays to use a REALTOR®.

Buyers, a REALTOR® can:

  1. Help you determine how much house you can afford. REALTORS® can help you understand the variety of products and services offered by various lenders and direct you to the lender that best meets your needs.

  2. Use their network of resources to find your perfect home. From their contacts with other REALTORS® and sellers, REALTORS® often know about properties before they are listed for sale on the market. Having such advanced information about a desirable property could give you the first option to view and possibly make an offer on your dream house.

  3. Provide objective information to help you evaluate your options. REALTORS® can provide local community information on utilities, taxes, zoning, schools, etc. This information can help you decide if the property offers an environment in which you would like to live or invest and helps you estimate potential resale value.

  4. Negotiate your best deal like a pro. Negotiations for a home purchase can involve price, financing, terms, date of possession, repairs and furnishings. A REALTOR®’s experience negotiating these options will help you arrive at your best deal.

  5. Recommend inspections to ensure no surprises in the condition of your new home. Depending on the area and property, this could include inspections for termites, mold, dry rot, asbestos, faulty structure, roof condition, septic tank and well tests, just to name a few.Your REALTOR® will know what inspections are required for your area and can recommend qualified, responsible professionals to perform inspections.

  6. Help with the titling process. Title indicates ownership of property.You should review a preliminary report on the title of the property prior to purchase. The title to most properties will have some limitations; for example, access rights for utilities. Your REALTOR® can help you resolve issues that might cause problems later.

  7. Guide you through the closing process. Your REALTOR® will help ensure that all steps have been completed in preparation for closing on the purchase. Using a REALTOR® will lessen the likelihood of surprises at the closing table.

Sellers, a REALTOR® can:

  1. Provide up-to-date marketplace information. Price, financing, terms and condition of competing properties are key factors in getting your property sold quickly, at the best price and with minimum hassle. Your REALTOR® knows the market and the other homes you are competing with. Rely on your REALTOR® for suggestions on repairs, updates and staging tips that will significantly enhance the salability of your property.

  2. Market your property for maximum exposure. Your REALTOR® will share information about your property with other real estate agents through a Multiple Listing Service (MLS) or other cooperative marketing networks. This combined with a REALTOR®’s contacts with previous clients, referrals, friends and family will give your property maximum exposure to potential buyers.

  3. Coordinate property showings. When a REALTOR® markets your property, you do not have to allow strangers into your home. Your REALTOR® will generally prescreen and accompany qualified prospects through your property.

  4. Help evaluate buyers’ proposals without compromising your marketing position. A buyer’s proposal is only the beginning of a process of appraisals, inspections and financing. Your REALTOR® can help you write a legally binding, win-win agreement that will be more likely to make it through the system.

  5. Assist you in closing the sale of your home. Between the initial sales agreement and closing or settlement, questions may arise. Your REALTOR® is the best person to help you resolve these issues and move the transaction to closing or settlement.