Saturday, October 25, 2008

Know about the Role of a Realtor

Survey suggests that most of the real estate buyers and sellers are not aware of the value of the realtors. At the same time regrettably, realtors have generally assumed that the expertise, professional knowledge and just plain hard work that go into bringing about a successful transaction were understood and appreciated.

Many of the most significant services and steps are performed behind the scene by either the realtors or the brokerage staffs and traditionally have been viewed simply as a part of their professional responsibilities to the clients. But without them the deal will be in danger.
You can really not say that real estate agents and realtors are same persons. Really, there is a great difference between realtor and real estate agents. I would like to put forward one point which is a difference between real estate agents and realtors. Realtors are members of a real estate association whereas real estate agents are not. A realtor must subscribe to realtor code of ethics.

The ethics are strictly enforced. It contains 17 articles and various underlying standards of practice. It's not just a bunch of rules. It's while there is neither evidence nor guaranty that all the realtors are better that unauthorized real estate agents this is just an attempt.

I am listing some of the things that realtor's promises to do but the non affiliates do not:

  1. They promise to keep the interest of buyers and sellers ahead of their own so that they can treat the party reasonably and truthfully.
  2. They promise to cooperate with the real estate brokers and agents if it is in favor of the client.
  3. They promise that they will not accept any fees from the third party without telling the seller.
  4. They promise to not take fee from multiple parties.
  5. They promise that they will not inter mingle the clients fund with them.
  6. They promise to maintain a degree of truthiness while advertising.
  7. They promise to not practice law unless and until they are lawyer.
  8. They promise to cooperate if some charges are put forward them and are ready to provide all the evidences.
  9. They promise to not indulge in any other realtor's job.
  10. They promise to not discriminate the clients on the basis of caste, race, color or any reason.

There are similarly seven more rules which are followed by the realtors. I will appreciate if you have got some idea about the realtors from this article and realize that there are some difference between realtors and real estate agents. You should keep these points in mind when you meet any realtor in future.

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