What does a REALTOR do?
For sellers, REALTORs help you know what your property is worth and how to price it. We market your property and help you negotiate offers. We also represent you from listing the property (putting it on the market) through closing (transfer of ownership).
For buyers, REALTORs help you know your budget and how much house you can afford. We find houses for sale and take you on tours of the properties you choose. REALTORs then help you negotiate the best deal and guide you through the purchasing process and represent you all the way to closing.
Do REALTORs abide by a Code of Ethics?
YES! Click here to see the Code of Ethics that all REALTORs are to follow.
Do I have to work with the REALTOR who listed the house I like?
NO! You can have one REALTOR work with you on every real estate transaction you do (in Arkansas). You may have different REALTORs for different transactions if you like (for whatever reason), but it is not necessary.
I want to buy/sell property somewhere else in Arkansas. Do I have to have a different REALTOR for different areas of the state?
Every REALTOR licensed in Arkansas can practice everywhere in the state.
Why should I use a REALTOR with an e-Pro designation?
e-Pro is a designation that is currently held by less than 2% of all REALTORs nationwide. My use of the e-Pro logo demonstrates that I have successfully completed a 30 hour course in the use of technology and the Internet as it pertains to real estate.
Because of this training, I am better able to market your property and help you find properties for sale by utilizing modern tools effectively.
You can
see my e-Pro certificate here.
What is an MLS (CARMLS)?
MLS stands for Multiple Listing Service. The central Arkansas area, including Conway and Little Rock, is included in
CARMLS. The MLS is useful because local agents join the service to have access to information about all the listed properties in their area.
What is agency?
Simply put, agency is the relationship of the REALTOR with his or her clients. A single-agency relationship occurs when the REALTOR represents only the buyer or the seller. In this situation, the agent has fiduciary resonsibility to the client. In dual-agency, the REALTOR represents both the buyer and the seller in a transaction. This is perfectly legal, but the REALTOR has a responsibility to both clients and can then be limited on the advice he or she can give. To read an article fully explaining agency,
click here.
How much is my house worth?
Literally, your house is worth what a buyer
with means is willing to pay for it. Deciding what that number is can be the tricky part. Knowing the prices of comparable properties that are for sale or have recently sold is a valuable way to figure your asking price. Pricing lower than the market usually results in a faster sale. Pricing at or above market can slow the process down considerably.
You should assess your needs and goals and price your house accordingly. If you would like help knowing how to price your property,
complete the CMA form, and I will reply to you quickly with my analysis.
How do I find the best mortgage loan?
Shop it! Go to at least three different lenders and find out what they can do for you. In 2010, when you apply for a home loan, you will receive a standardized Good Faith Estimate (GFE) from each lender. You can then do an "apples-to-apples" comparison and find which loan suits you best. To see an example of the new GFE,
click here.
Another source you may want to use is the pamphlet
Shopping for Your Home Loan.