Why use a REALTOR® for your real estate transactions?
All real estate licensees are not the same - only licensees who are members of the National Association of REALTORS® are properly called REALTORS®. To become a member of the National Association, a real estate licensee must first become a member of both their Local and State Association/Board of REALTORS®. REALTORS® adhere to the National Association’s strict Code of Ethics and are expected to maintain a higher level of knowledge of the process of buying and selling real estate. REALTORS® are committed to treat all parties to the transaction honestly. REALTORS® provide numerous services such as relocation assistance, marketing expertise, negotiating skills and experience, knowledge of financing and closing services.
A REALTOR® who represents you exclusively in a purchase owes their allegiance to only you. On the other hand, if you work with a REALTOR® who does not represent you exclusively, then they do not owe you exclusive loyalty either (as in the case of working with a dual agent when the REALTOR® is working with both the buyer and seller at the same time).
All REALTORS®, whether they represent the buyer or seller, are supposed to disclose known material facts to buyers that could impact the buyer’s decision to buy or pay that price.
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REALTORS® work under the supervision of real estate brokers. When one broker represents the buyer and seller, even if two different REALTORS® are involved, it is called “dual agency”. With dual agency, the agents owe allegiance to both the buyer and seller. To be legal, dual agency must be disclosed to both the buyer and seller, who must consent to this type of representation.
REALTORS® risk it all because they:
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don’t get paid unless they can obtain results that are satisfactory to all parties, |
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are paid on a straight commission basis and have no guarantee of when or how much their next paycheck will be, |
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are not reimbursed for their out-of-pocket expenses and must continue to pay their business expenses while waiting for their next paycheck, |
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are paid a percentage of the sale price, but not until the closing. |
Simply stated, REALTORS® provide one of the most results-oriented services available anywhere. Whether you are going to be buying, selling or both, work with someone who invests their own time, talent and financial resources in your satisfaction.
Why use a local REALTOR®?
Over 90% of the members of the Oak Park Board of REALTORS® live in the communities they service. Therefore, they are the best qualified to know the current local market and competing properties and are aware of the most advantageous means either advertising your property or finding your dream home.
Oak Park Board of REALTORS®
212 South Marion Street, Oak Park, Illinois 60302
Tel: 708-386-0150 Fax: 708-386-0187
E-mail: info@oakparkrealtors.org
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