Great REALTORs® give you all of the available information and applicable facts about the current real estate market in order to help you make the best selling decision. They educate and guide you towards to the right decisions; they never tell you what to do. Realtors are bound to do so by The Realtor Code of Ethics.

The term REALTOR® is an earned designation given to members of real-estate firms affiliated with the National Association of REALTOR®’s (NAR). REALTOR®’s are trained and licensed to assist clients in buying and selling real estate.

Why Use a REALTOR®?

NAR Article

Selling a home is a complex process involving what’s likely to be your most prized financial asset. Enacting a smooth transaction for your home’s full value requires the expertise of a REALTOR® . A Realtor’s extensive training has prepared them to generate the best possible results on your behalf. Much like you wouldn’t treat a broken leg without a doctor or handle a major legal dispute without an attorney, it’s unwise to buy or sell a home without the professional assistance of a REALTOR®.

Naturally, every seller wants to reap the highest return from a home sale. That makes it tempting to try selling the home on your own, thereby saving a REALTORs® fees.

But consider this relevant research... a study conducted by the National Association of REALTORs® (NAR) found that 82 percent of real-estate sales result from REALTORs’ contacts with previous clients, referrals and other sources. Additionally, NAR concluded that most homes sell for 3 percent to 9.5 percent more when sold through a REALTOR®.

Selling your home through a Realtor can yield abundant advantages. To highlight a few:

• REALTOR®’s have access to Multiple Listing Services (MLS) they use to provide information about your property to thousands of consumers through their REALTOR®’s. REALTOR®’s have other marketing vehicles, such as open houses and referral networks, at their disposal. Through your REALTOR®’s marketing efforts, a much broader range of qualified buyers will be informed that your property is available. Most Realtors also use web advertising to also help sell your house.
  
• As a seasoned pro at negotiation skills and tactics, a Realtor can maintain objectivity in assessing buyer’s proposals and developing offers and counter-offers. Throughout the transaction, including appraisals, inspections and legally binding agreements, you can depend on a Realtor’s know-how to avoid potential pitfalls.
  
• Sales transactions include intricate legal and regulatory requirements. As a trained and licensed REALTOR®, they are familiar with the regulations. They can help you understand and adhere to them.
  
• REALTORs work with their clients to address home improvements and tips that will enhance your home’s salability.
  
• REALTORs® offer you the benefit of their extensive, professional sales training.

When you sign with a REALTOR®, you are under contract, which is legally binding giving the agent the exclusive right to sell your property within a certain period of time.

1. The agent does market research and helps you to determine the best value of your home in the current market.
2. The agent markets your property, will advertise your property, and schedule and conduct showings of your property.

1. An agent will make suggestions and help you determine what must be done to your home in order to receive the best value from the sale.
2. The agent acts on your behalf during the transaction process, completes and files the proper paperwork, and will negotiate your terms to the buyers.
3. The listing agent receives payment for their services in either a percentage or a flat rate.

CNN Article:

The "For Sale By Owner" route ("FSBO" in advertising lingo) is taken by plenty of home sellers these days. According to a survey by the National Association of Realtors, 13 percent of all homes were sold directly by their owners in 2001. The survey doesn't tell us, however, if those sellers were glad they did it.

For some insight into that, CNN asked community members about their experiences in selling their homes themselves, and if they'd do it again. Here's a bit of what CNN heard:

Absolutely. "I sold my home myself and would do it again in a heartbeat! I spent $3 on two "For Sale" signs and because I set the asking price in the same range as similar houses being sold, I got to keep the equivalent of the real estate agent fees (4 to 6 percent of sale price) for myself." --Tony in Conn.

It depends. "I know from lots of personal experience that a slow housing market almost 100 percent requires a real estate agent, and even in some very strong markets it is very helpful to have one." --Will

No way. "We tried selling our home ourselves a year ago in order to save money. We experienced three months of people never showing up for an appointment, showing up early and showing up late. For us, it was a pain -- missed meals, changed plans, etc. We finally listed with an agent and it sold in 10 days." --Dave

Is FSBO right for you? It depends. What's the market like in your area? How quickly do you have to sell? Do you have the time and temperament to deal with hordes of prospective buyers tramping through your house? Balance all this out against the amount you would save by not paying a commission to an agent and you should have your answer.

Whether or not you choose go it alone, use my checklist of the key things you can do to make selling your home as profitable (and painless) as possible.

Make it shine. Look at your house through the eyes of prospective buyers. Toss the junk, clear the clutter and make it sparkling clean. Make minor repairs so that your buyer's home inspection comes clean, but stay away from capital investments at this time, which you are unlikely to fully recoup when you sell. Your money is much better spent making cosmetic improvements.

Get real about the price. What you paid for the house or what need to make on the sale isn't relevant. The only thing that really matters is what buyers are willing to pay. To get a realistic idea of how you should price your house, look at what similar homes in your area are actually selling for, not the price they are listed for. You should also consider getting it appraised. If you do use an agent, he or she will be able to provide a fair price range.

Pick the best offer. If you receive multiple offers, evaluate each on price, how prepared they are to finance the purchase, the terms offered and the type and number of contingencies placed on the offer. Remember that the offer with the highest price is not necessarily the best one.

Get legal help. Real estate transactions are complex affairs. A few hundred dollars spent on having a lawyer review your listing agreement, contract and closing documents can be money extremely well spent, ensuring that there are no surprises and you're getting a square deal. Choose one who specializes in real estate sales.

THE BOTTOM LINE

For most of us, our homes are the biggest investment of our lives. So when it comes to selling, be sure to either get professional help or to put a great deal of your own time and effort into ensuring that you get the best possible price and terms.