REALTOR - A real estate agent or broker who is a member of the NATIONAL ASSOCIATION OF REALTORS, and its local and state associations.

What separates a realtor of other real estate professionals is the agreement of the "realtor" to operate under a universal code of ethics and standards.

Founded in 1908, the NATIONAL ASSOCIATION OF REALTORS(NAR), has grown from its original size of 120 to today's 720,000 members. NAR is composed of residential and commercial realtors, who are brokers, salespeople, property managers, appraisers, counselors and others engaged in all aspects of the real estate industry.

A licensed person that negotiates and conducts real estate sales, and who holds active membership in a local real estate board, that is affiliated with the National Association of Realtors.

A realtor will have the ability to list your house on the MLS system if you are selling a home.If you are buying a home a realtor can help you find the right home by finding MLS listings that meet your criteria. A realtor can also have new listings that fit your search criteria E-mailed to you as soon as they are on the MLS.

Realtor is a registered trademark of the National Association of Realtors and may not be used without their consent.

A realtor is highly recommended to handle the sale, marketing and listing of your home. Consult your mortgage professional to find a quality, knowledgeable, and reputable realtor.

Strangely enough, one of the mistakes many people make in regard to a Realtor is the way they pronounce the word. For some reason, an "a" is often inserted as a middle syllable, making the word mispronounced as "real-a-ter". The correct pronunciation is the two syllable, "real-tor", just as it is spelled.

What to look for in a Realtor? - What kinds of things should I look for when I choose a relator?

A realtor should ask you lots of quesitons when you meet them for your initial consultation. They should be trying to determine what your wants and needs are for the new house. What area do you want to live in? What type of home are you looking for? Do you have children that will be attending school in the area? How long do you plan to live in the home?

It is a good idea to work with a Realtor that is local to the area you are interested in. A good Realtor should provide you with statistical reports regarding appreciation as well as be able to suggest the best local schools.

Working with a seasoned realtor will aid in your search to sell or purchase a home. A seasoned realtor will have the history of your neighborhood and information about a given area which can help you determine the true value and likelihood of appreciation in a purchase. With a sale of a home, a seasoned realtor will be able to truly assess the value of your home and have a better understanding of how to increase the potential of your home for sale.

Look for a realtor that responds quickly to emails and phone calls. Waiting hours or days for a response can add too much stress to the home buying process.

There are many realtors out there who will bend over backwards to accomodate you and satisfy your needs. If you are for any reason not satisfied with the realtor you've been speaking with, by all means find another. If you have any friends, co-workers or family members who have recently purchased a home, ask them if they can highly recommend the realtor who helped them.

If you get a recommendation of a Realtor from your mortgage professional and you are not happy with that Realtor, by all means let the mortgage professional know. Customer service cannot be made better if people are not aware of a situation.

Questions to ask a realtor - Before you hire a WI realtor to either help you sell your home or help you find a new one there are some questions you will want to ask to make sure the fit is right. You will first want to ask the realtor is they work in and have knowledge of the area that you are selling or buying in. A realtor who understand the area you are interested in will make the process more enjoyable.

When working with a Realtor one of the questions you should ask them is how long has he/she been a Realtor. An experienced Realtor who has been doing it for a long time has been there and done that, while a new Realtor will obviously be less experienced and may not be familiar with everything still. I would definitely be more apt to second guess something a new Realtor was doing versus an experienced veteran Realtor. This is not to say a new Realtor can not do his/her job as well or better than the veteran, but I would make a mental note of their experience in my head. An example where the seasoning of a Realtor may come into play: If you have a "unique" property that you are trying to sell, the veteran might have more experience or knowledge about selling this type of property than the newbie Realtor.

You will want to find out from the realtor if there are any other fees that you will need to pay besides the standard commission. The standard commission is 6% total, 3% goes to the listing agent and 3% goes to the buyers agent. You may be able to negotiate this fee with your agent, while these are the customary fees, there are many new companies that charge a flat rate or smaller fees, so some real estate agents will negotiate with you.

If you have children, feel free to ask the realtor about the local school system, daycare, etc. You shouldn't hesitate to ask your realtor about the basics either. Things such as where the grocery store is or the nearest dry cleaners, are all questions that your realtor can answer or find the answers for you.

One of the most important questions to ask your real estate agent is which neighborhoods appreciate higher than others. You don't want to buy a property in a neighborhood that has seen little to no appreciation.

If you're buying, ask about tax rates and trends in various area towns. They can vary considerably and will affect your total cost of ownership. Also, ask the realtor whether they work primarily with buyers or with listing. If you're a buyer, a buyer-only realtor may be a good bet.

Ask your realtor about Home Owners Associations and covenants for the neighborhoods you are considering. Ask if the neighborhood is part of any special taxing district.

Also, ask your realtor if there are any administration fees associated with the transaction. These are paid to the realty company at closing.

Do I really need a Realtor to sell my home? - If you are looking to sell your home you may be tempted to sell it yourself, as For Sale By Owner. Chances are that you know someone who has successfully sold their home, or maybe you have even sold your own house in the past. Everyone’s primary reason for trying to sell their own home is of course to avoid paying thousands in commissions to a Realtor. However, there are many reasons to enlist the help of a Realtor in the sale of your home, especially in today’s market.

A Realtor will first help you, as a seller by performing a comparative market analysis. This will help in pricing your home to sell for a fair price and in a reasonable amount of time.

A Realtor will also spend time marketing your home. This can be very time consuming, but it's very important. Your Realtor will advertise your home in a variety of ways, such as homes guide magazines, newspaper ads, through open houses, online and with fliers. A Realtor will also tell other agents about your home and encourage them to show it to their prospective buyers. Marketing is one of the most important actions when you are trying to sell your home. After all, if no one knows your home is for sale, no one is going to buy it.

A Realtor will also help you with staging your home. Staging is simply presenting your home in its best possible light to prospective buyers.

Yes, it is possible to sell your home on your own. But you will have much better results if you use the services of a Realtor.

If you would like a referral for an experienced, motivated Realtor in your area, contact me at 414-303-1215 or msearing@mayfairmortgage.com, I'd be happy to recommend an agent that I know will show you results.

The National Association of Realtors states that in only 14% of for sale by owners were able to sell their home on their own. Close to 80% of For Sale By Owner (also called FSBO's) end up using a Realtor to sell their home. This statistic says a lot for people who may be thinking of trying to sell their home on their own. Ask yourself why so many people that attempt to sell their home by themselves eventually end up listing with a Realtor. Not only does a Realtor specialize in selling and listing homes but they are educated in this field as well to make sure you are getting a good value for your home. If a consumer tried to sell their home on their own, not only do they have the possibility of listing your home for months without any serious interest, but you may under-price your home and lose thousands of dollars as well. The longer your home sits on the market the more money that you continue to put into your home and apply towards interest that you will not get back out of it. Using a Realtor to sell your home is a very smart decision and if you decide to try selling your home on your own just make sure that you apply a lot of time and effort to it.

Although you can sell your home without a realtor, there are some things to be aware of. First, it is very difficult to generate as much attention and interest in your home as a realtor can. Second, most buyers know that you won't be paying a realtor's commission. They will expect your price to be lower than market price by at least half of a typical realtor's commission. Third, many people interested in your home will try to take advantage of your lack of advice from a realtor. They will make offers for far below market value, so they can either rent your home out for a profit or so they can sell it quickly for a profit. Many of these people have vehicle signs that say "We Buy Homes" or some variation.

In addition, when selling real estate you're going to be dealing with a lot of third parties, legal documents, etc. This can all be very time consuming and a lot of liability is involved. If you cannot produce a buyer within your own personal sphere of contacts, it is typically better to allow a professional to handle all items that go along with selling your home.

The internet has become a resource for people who are seeking information about real estate and mortgages. There are many discount real estate companies on the internet who will offer the same great service of the big name, full-priced real estate companies, but at a fraction of the cost. These discount real estate companies offer a great compromise by saving you money on commissions while still retaining the services of a professional who can hold your hand every step of the way.

More often then not people need the help of a realtor to sell their home. However not just any realtor will do. Make sure you work with someone who specializes in your local area. Talk to a mortgage professional for some recommendations of realtors to work with.

If you plan on selling your home on your own then you should develop a good relationship with a local title attorney or title company. They can assist you by providing blank contracts as well as by guiding you through the various transfer fees associated with the sale of your home.

How can a realtor help me if Im buying a home? - If you are in the market for a new home chances are that you have been looking at houses on the internet, or driving around your neighborhood picking up flyers from houses that are for sale. For many people this is their first step in looking for a new house since it is low pressure, and entertaining.

When you are ready to get serious about finding the right home for you, definitely enlist the assistance of a qualified realtor.

An experienced Realtor can offer advice during your property search. There are so many homes available and it is time consuming to look at them all. A Realtor's full-time job is to find the perfect home for his or her buyers.

A Realtor is also very valuable when you have found a home and are in the process of the negotiation of a purchase agreement and sales price.

A Realtor can do all of the leg work for you with researching areas that you are interested in buying a home in and finding the home that is the best match for your needs and in your price range. A Realtor can also help you if you're buying a home because they will set up appointments to go look at the houses you are very interested in and walk you through the homes as well. Realtors can usually get access to most lock boxes very easily to bring you to look at a home at your convenience.

Realtors have access to homes that have just been listed but are not yet on public MLS searches. They receive updates when prices are lowered. Realtors can find how long a home has been on the market. They can find if a home has been under contract and the offer fell through. All of this information can help when negotiating an offer.

Another reason to get the help of a real estate agent if you are buying a home is that it will not cost you anything. Real estate agents, weather working for the buyer or seller, get paid from the seller's side of the transaction.

Make sure you sign a contract with the realtor of your choice, so you can make sure he is representing your best interests.

What should I ask a realtor before I hire them? - Choosing a Realtor to work with is more than just calling any company out of a phone book or newspaper ad. There are many factors that determine whether the Realtor will be a right fit for your situation. Whether you are buying your first home or selling your current residence, these are some of the questions you may want to ask in your initial meeting.

To choose a successful agent, research those who have success selling homes in your neighborhood. Often you’ll find the same two or three agents closing deals. The most successful agents have full-page ads in the local classified magazines listing houses grouped by neighborhoods or areas. Successful agents have many listings. Part-timers and unsuccessful agents may have few, if any, homes listed. To get the attention you deserve, it is best to choose a successful agent who is a full-time partner in selling your home.

Ask friends and relatives who have purchased a home recently in your area which agent they used. Take your time to find someone who you feel comfortable spending a lot of time with and someone who has enogh experience to help you. Many agents that concentrate solely on listings do not have the patience and time to work with say, a first-time buyer.

Although a realtor may ask you to sign a buyers agreement you do not have to sign if you are uncomfortable with a contract. A good realtor should understand this and be able to accommodate you and your situation. If you would like the name of a realtor in the Milwaukee area please call or e-mail me at 414-303-1215 msearing@mayfairmortgage.com.

If you don't know a reputable real estate professional in your area, ask yourmortgage professional. We work with hundreds of real estate agents across the country and know who takes care of their customers andwho does not!

One of the most important questions to ask the Realtor up front is what areas or localities do they work in or which areas do they specialize in. Obtaining a Realtor that is familiar with only one city would not be a good idea if you were looking to buy or sell your home in a completely different area. Your Realtor needs to be very familiar with your immediate area to help you price your home right or to make sure you do not over pay for a new home.

In many cases, realtors work exclusively with their "in-house" financing. This is the financing department that their real estate firm employs. These in-house departments are often unable to assist customers with unique situations, such as low credit customers, self-employed buyers, or buyers who require 100% financing. If you have had an experience similar to this, do not think you can't get a mortgage loan! Call a local mortgage loan specialist and see what he can do for you. He will have access to many programs that the realtor's in-house lending department will not.

Your realtor will also likely ask you to produce a Mortgage Loan Commitment, otherwise known as a pre-approval letter. This lets the realtor know that you have been approved for financing. Your mortgage loan specialist can issue you this letter after a brief interview. Your pre-approval letter will indicate the maximum level of financing you have been approved for, and any other details specific to your loan approval.

Don't be surprised if the better Realtors in your area ask you to sign an Exclusive Buyer's Agreement early in the house-hunting process. Many "less than stellar" Realtors waste lots of time and gas money working with a potential buyer only to have that buyer purchase a home from another Realtor. An Exclusive Buyer's Agreement binds a buyer to a Realtor and lets the Realtor know the home buyer is serious.

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