Realtors are also advocates for their clients. A realtor’s job is to represent their clients’ best interests at every stage of the transaction.
Real estate transactions are complex and include far more than many people know; attorney reviews, filing state/federal forms, tracking mortgage rates/terms, coordinating with lenders, scheduling appraisals/inspections, researching property taxes, public records, price trends, neighborhood details and school district ratings, handling negotiations, fielding incoming offers and showing requests, auditing your home before listing, requesting repairs or concessions, executing a multi-channel marketing strategy, and much more.
While some may be tempted to go it alone, known as “For Sale by Owner” (FSBO), research shows the wisest choice is to trust a trained professional. According to data from the National Association of REALTORS (www.nar.realtor), FSBOs accounted for only about 10% of home sales in 2021. To put it in perspective, homeowners who decide to market their own property experience only an 11% success rate. That’s like a football team only making it to their own 10-yard line on every kickoff. No one is headed to the Superbowl, or even the postseason, with those stats! Additionally, homes sold by a trained realtor typically achieve a final sale price 74% higher than that of the average FSBO.
Realtors are also advocates for their clients. A realtor’s job is to represent their clients’ best interests at every stage of the transaction. This means ensuring that they receive fair and equitable treatment under the law. Realtors, who are bound by a strict code of ethics, can guide buyers and sellers through the process, ensuring that they understand their rights and obligations.
Realtors also play a critical role in ensuring that property rights are respected and protected. Local, state and federal regulations can have a significant impact on property rights, and realtors are often on the front lines advocating for their communities’ interests. This can include working with local zoning boards, advocating for property tax reform, and lobbying for legislation. PAAR sends a team of representatives to the Realtors Legislative Meetings in Washington, D.C., every year to stay on top of developments on a national level that may impact those they serve here at home in the Quad Cities.
Ultimately, realtors play an essential role in the United States, and even beyond into the global marketplace. From guiding buyers and sellers through complex transactions to advocating for their clients’ interests, realtors are on the front lines in the communities they live and work in every day. By fostering a culture of professionalism and ethical behavior within the industry, a realtor helps to ensure that property owners’ rights and investments are respected and protected for generations to come. As such, it is critical that we continue to support and invest in the real estate industry and the professionals who make it thrive. QCBN
By M. Faye Humphrey
Faye Humphrey is the 2023 president of the Prescott Area Association of REALTORS. With more than 20 years of experience, Humphrey is the broker/owner of KMF Real Estate, with offices in Prescott and Scottsdale.
The Prescott Area Association of REALTORS® (PAAR) is the trade association representing more than 2,000 REALTORS® serving the greater Quad Cities area. Established in 1944, PAAR’s mission is to advocate for private property rights, and provide its members with resources to foster their business success. The term REALTOR® is a registered trademark, which identifies real estate professionals who subscribe to a strict code of ethics as members of the National Association of REALTORS®.
For more information, contact:
Elissa Portela
Communications Director
Prescott Area Association of REALTORS®
Office: 928-445-2663 x 203
