Planning to buy or sell a home? Consider working with a Realtor® from Griffin Realty!
Real estate can be confusing if you’ve never had experience in it before. You might be wondering if it’s worth it to invest in a REALTOR®, but aren’t exactly sure what to expect or if it would be easier to do without.
REALTORS® are the pillar of communities and go beyond providing an excellent experience in the home buying and selling process. According to the National Association of REALTORS® (NAR), there are currently 1,599,135 registered REALTOR®.
Griffin Realty is committed to giving our clients a solid foundation to lean on in their journey of buying or selling real estate in the Bloomington, Indiana area. Whether you are looking to buy your forever home, invest in real estate, or get the best deal for selling your house, having the support and knowledge of a Griffin Realty REALTOR® will make the process one of ease and enjoyment.
Real Estate Agent vs. REALTOR®
Real estate professionals offer a variety of services to their clients. Though the terms real estate agent and REALTOR® are often heard simultaneously in conversation, there are differences between the two.
Real Estate Agent
A Real Estate Agent’s main role is to provide guidance and assist both sellers and buyers in the listing, searching, marketing, and purchasing of property. Their expertise in market conditions and conducting walkthroughs allow them to make sure each step is taken to get the best value or price for their client’s home.
In Indiana, to become a Real Estate Agent, one is required to take 90 hours of classes. Following these courses, they then must pass a State of Indiana exam to obtain the status of being a licensee, also known as a broker or a real estate agent.
REALTORS® are held to a higher standard than Real Estate Agents because they are members of the National Association of Realtors (NAR), the leading association in the U.S. for real estate. To become a REALTOR®, one must be actively involved in real estate and have a valid license. REALTORS® offer the same services as any Real Estate Agent, as well as offer many other benefits to their client’s experience.
REALTORS® must also adhere to a strict Code of Ethics. These are standards of practice that REALTORS® are required to follow including duties to clients/customers, duties to the public, and duties to REALTORS®.
So, what does this mean? Any REALTOR® with whom you work has voluntarily agreed to abide by the Code of Ethics as issued by the NAR, which is based on professionalism and the protection of the public. REALTORS® are required to complete ethics training every three years to uphold their education and to avoid violation of these duties.
The Code of Ethics consists of 17 Articles that they must act according to. When you work with a REALTOR®, you can expect them to abide by these standards.
A broker is someone who continues to further their real estate education and obtains their Real Estate Broker license. But, not all Brokers are created equal. There are three different levels of being a Broker:
- Affiliate Broker – Someone whose license is held by the Managing Broker of an agency.
- Managing Broker – The licensee has undergone additional education and testing to obtain these statuses. In Indiana, two years of field experience as an agent is required before being able to become Managing Broker eligible. They can hire other agents, train and oversee daily work. They are responsible for overseeing all duties within the firm and help to ensure that the firm is following all regulations, both local and national.
- Referral Broker – Someone who is a licensee in a Referral status. This licensee may not practice real state, give real estate advice or help clients in any way. They can only refer people to a Broker with an Active license.
Why work with a REALTOR®?
Not only can working with a REALTOR® help make the buying or selling process easier, but there are so many other benefits to making your experience even better.
Since REALTORS® have years of education and experience, you will have the benefit of learning tons of valuable information for any of your future real estate endeavors. Whatever questions you may have, they can answer to make sure you understand each part of the buying or selling process.
REALTORS® have many professional connections that they can refer you to, and serve as a resource for a number of things they don’t do. If you’re buying, selling, moving, or investing, you’re likely going to need multiple services. Working with a REALTOR® can get you access to a list of professionals including:
- Mortgage Lender
- Home Inspector
- Pest Inspection Company
- Contractors (structural, painting, general home improvement)
- Title company
- Moving company
- Pest Inspection Company
There can be a lot of missed opportunities (and missed warning signs) if you’ve never dealt with real estate before. An experienced REALTOR® will be able to find you all the homes within your budget, as well as properly negotiate with buyers or sellers to make sure you get the best deal. They can also spot when something might not be the best solution for you, such as scams, long-term issues, or legal mistakes. These can be crucial, especially if you’re a first-time buyer and aren’t sure where to look for these flags.
Why Griffin Realty?
When you need someone to lean on, lean on G! At Griffin Realty, our team is a dedicated to supporting and educating buyers and sellers through the real estate transaction process and connects them with properties, people, and places in the Bloomington community to ensure an enjoyable and enriching experience. We take the best ideas from other industries and apply them to real estate, with each member bringing a unique and special quality to the team.
Since opening almost twenty years ago in 2003, Griffin Realty dedicates as much time as is necessary to helping their clients successfully achieve their real estate goals, from getting the most accurate value on their home to finding the home of their dreams. We create a plan that is tailored to your unique needs so that you can have the best possible experience.
To learn more about the services we offer or to get in touch with an agent in your area, please visit our website. For more resources and information about real estate, check out some of the articles on our blog.