What is the REALTOR® Difference?
All real estate licensees are not the same! Only real estate licensees who are members of the National Association of REALTORS®, Hawai'i Association of REALTORS® and a local Association, are properly called REALTORS®. REALTORS® subscribe to a strict Code of Ethics and are expected to maintain a higher standard throughout the home buying or selling process.
They proudly display the REALTOR® logo on their business cards and other marketing and sales literature. Look for the REALTOR® logo when choosing your real estate agent.
You be the judge! Real estate transactions involve one of the biggest financial investments most people experience in their lifetime. In Hawai'i, transactions frequently exceed $300,000.
- If you had a $300,000 income tax problem, would you attempt to deal with it without the help of a CPA?
- If you had a $300,000 legal question, would you deal with it without the help of an attorney?
Considering the small upside cost and the large downside risk, it makes sense to have the professional assistance of a REALTOR®.
Here are some reasons to work with a REALTOR®:
- Paperwork. REALTORS® help you through the cumbersome and often complicated contracts, from the Purchase Contract, Counter Offer, Disclosure Statement, and addendums.
- Pricing. This process generally begins with a determination of a reasonable asking price. Your real estate agent can give you up-to-date information on what is happening in the marketplace and the price, financing, terms, and condition of competing properties. These are key factors in getting your property sold at the best price, quickly and with minimum hassle.
- Negotiations. Buying or selling a home requires solid negotiating skills. A REALTOR® can assist with the critical negotiations.
- Understanding Financing. Your REALTOR® can help you understand the different financing options and identifying lenders best qualified to help you.
- Advertising. REALTORS® have the experience to help you sell your home. A REALTOR® can recommend repairs or cosmetic work to enhance the salability of your property. Also, your REALTOR® can market your property to other real estate agents and the public. In many markets, 50% of real estate sales are cooperative sales; that is another real estate agent brings in the buyer.
- Technology and Data. REALTORS® can tap into vast technologies serving the housing industry today. This includes the Multiple Listing Service, market data, and neighborhood trends.
- Due Diligence. With a negotiated agreement in hand, it is time to complete the evaluation of the property. Depending on the area and property, this could include inspections for termites, dry rot, asbestos, faulty structure, roof condition, septic tank and well tests, just to name a few. Your agent can assist you in finding qualified responsible professionals to do most of these investigations and provide you with written reports. You will also want to see a preliminary report on the title of the property. Title indicates ownership of property and can be mired in confusing status of past owners or rights of access. The title to most properties will have some limitations; for example, easements (access rights) for utilities. Your agent, title company or attorney can help you resolve issues that might cause problems at a later date.
| || |
Hawai'i Housing Programs. A helpful resource for first time homebuyers. Learn about:
- Steps to buying your first home
- Renting vs. Buying
- Your First Mortgage
- Closing Process
- Buying a Home Checklist
Prevent Foreclosure Hawai'i. Website resource on options available if you or someone you know is facing foreclosure.
To find a REALTOR®, by Local Board, visit the following websites: