Consumers
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Why Use a REALTOR®?
Many consumers consider selling their home directly but eventually turn to REALTORS®. Smart home sellers realize they need the expertise in pricing their home, making connections with REALTORS® working with buyers, arranging and staffing open houses, and coordinating with other professionals in the sales process.
Only about half of all real estate agents are REALTORS® – the top half, in our not-so-humble opinion. REALTORS® work independently, for small agencies, or for large brokerages. They help people buy and sell residential or commercial properties, vacation homes, and land; they conduct appraisals; they operate in the United States and in other countries; some specialize in auctions; and others are buyer’s representatives.
Real estate transactions involve one of the biggest financial investments most people experience in their lifetime. Here are 12 ways a REALTOR® will make your home buying or selling experience better.
REALTORS® Are Experts
Eighty-five percent of sellers were assisted by a real estate agent when selling their home, according to NAR Research, and 79 percent of buyers purchased their home through a real estate agent or broker.
REALTORS® Are Part of the Community
REALTORS® embraces our country’s racial and ethnic diversity and strives to make the benefits of real property ownership available to all. Find out What’s New in Fair Housing.
Only REALTORS® Follow a Code of Ethics. To be a member of NAR and a REALTOR®, a real estate agent must abide by a set of professional principles and serve clients fairly. Learn how the Code of Ethics affects every day real estate practices.
The Housing Opportunity Program offers programs, grants, trainings, and resources that help REALTORS® and REALTOR® associations expand housing availability and insure an adequate supply of rental housing and home ownership opportunities in their communities.
Tools for Homebuyers
Buying a home. It’s a major endeavor that can yield deep and lasting rewards. But enjoying a successful real estate transaction requires knowledge and experience.
As the premier organization for training real estate professionals on how to represent buyers in housing transactions, the Real Estate Buyer’s Agent Council (REBAC) understands home buyer’s perspectives and is committed to helping you achieve a successful transaction. That’s why we’ve compiled this collection of useful home buyer resources.
Our hope is that these home buyer resources will provide answers to many of your questions and bring you closer to achieving your home ownership goals.
Glossary of Housing Terms
Click here for a glossary of housing terms provided with permission by Fannie Mae.
Find a REALTOR®
Looking for professional assistance with buying or selling your home? To find a REALTOR® in northeastern Ohio can help with the marketing, showing, negotiation, legalities and paperwork necessary to complete the process click here.
Find a Real Estate Industry Expert
Looking for a professional builder or assistance your mortgage, appraisal, or ? To find a Real Estate Expert in northeastern Ohio, click here.
Guide to Avoiding Foreclosure
Whether you’re in foreclosure now or worried about it in the future, HUD-approved housing counseling agencies are available to provide you with the information and assistance you need to avoid foreclosure.
Foreclosure Prevention Resources
U.S. Department of Housing and Urban Development
(HUD) – (800) 569-4287
or Hope Hotline (888) 995-HOPE(4673)
Ohio Governor’s Office/Save the Dream
(888) 440-4674
Fair Housing
Housing discrimination based on your race, color, national origin, religion, sex, family status, or disability is illegal by federal law. If you have been trying to buy or rent a home or apartment and you believe your rights have been violated, you can file a fair housing complaint.
Move or Remodel?
Are you considering a move? Click HERE to find information to help you make a decision or check out HouseLogic, the National Association of REALTORS®’s new consumer site, to analyze the pros and cons of moving or staying put, plus lots more information about owning a home.
How to become a REALTOR®
In order to become a REALTOR®, you must first get your Ohio Real Estate Salesperson, Broker or Appraiser license.
Real estate agents, basically, assist people in buying and selling homes and property. The agent must have a thorough knowledge of the real estate market as well as excellent marketing skills. They may be contracted to sell houses, condominiums, land, offices, etc. They often assist the buyer in finding the proper financing. They may help the home seller find another house. They must know how much the client can afford, deadline for moving, school district needs, desired house type, etc. When the agreement to buy is reached, the agent prepares the contract for both buyer and seller.
It is not unusual for two agents to work on the same house or property, one for the buyer and one for the seller. The real estate agent typically works out of an office owned by a real estate broker. Much time is spent showing houses or property to potential buyers. This job often requires more than 40 hours a week, and it is common to work evenings and weekends. This is a commission job, with the agent being paid a small percentage of each sale.
First, you need to get an Ohio Real Estate License
You will find the information you’re looking for on the Ohio Division of Real Estate and Professional Licensing website or you can reach them at (614) 466-4100. This is the government division that oversees pre-licensure education and issues real estate licenses.
How do I become an Ohio Real Estate Salesperson or Broker?
How do I become an Ohio Appraiser?
Commissions
Under the long-established policy of the Lake & Geauga Area Association of REALTORS®, the Ohio Association of REALTORS®, and the NATIONAL ASSOCIATION OF REALTORS®:
The broker’s compensation for services rendered in respect to any listing is solely a matter of negotiation between the broker and his or her client, and is not fixed, controlled, recommended, or maintained by any persons not a party to the listing agreement.
The compensation paid by a listing broker to a cooperating broker in respect to any listing is established by the listing broker and is not fixed, controlled, recommended, or maintained by any persons other than the listing broker.