Why Use a REALTOR®?

All real estate licensees are not the same. Only real estate licensees who are members of the NATIONAL ASSOCIATION OF REALTORS® are properly called REALTORS®. They proudly display the REALTOR "®" logo on the business card or other marketing and sales literature. REALTORS® are committed to treat all parties to a transaction honestly. REALTORS® subscribe to a strict code of ethics and are expected to maintain a higher level of knowledge of the process of buying and selling real estate. An independent survey reports that 84% of home buyers would use the same REALTOR® again.

Real estate transactions involve one of the biggest financial investments most people experience in their lifetime. Transactions today usually exceed $100,000. If you had a $100,000 income tax problem, would you attempt to deal with it without the help of a CPA? If you had a $100,000 legal question, would you deal with it without the help of an attorney? Considering the small upside cost and the large downside risk, it would be foolish to consider a deal in real estate without the professional assistance of a REALTOR®.

But if you're still not convinced of the value of a REALTOR®, here are a dozen more reasons to use one:

1. Your REALTOR® can help you determine your buying power -- that is, your financial reserves plus your borrowing capacity. If you give a REALTOR® some basic information about your available savings, income and current debt, he or she can refer you to lenders best qualified to help you. Most lenders -- banks and mortgage companies -- offer limited choices.

2. Your REALTOR® has many resources to assist you in your home search. Sometimes the property you are seeking is available but not actively advertised in the market, and it will take some investigation by your agent to find all available properties.

3. Your REALTOR® can assist you in the selection process by providing objective information about each property. Agents who are REALTORS® have access to a variety of informational resources. REALTORS® can provide local community information on utilities, zoning. schools, etc. There are two things you'll want to know. First, will the property provide the environment I want for a home or investment? Second, will the property have resale value when I am ready to sell?

4. Your REALTOR® can help you negotiate. There are myriad negotiating factors, including but not limited to price, financing, terms, date of possession and often the inclusion or exclusion of repairs and furnishings or equipment. The purchase agreement should provide a period of time for you to complete appropriate inspections and investigations of the property before you are bound to complete the purchase. Your agent can advise you as to which investigations and inspections are recommended or required.

5. Your REALTOR® provides due diligence during the evaluation of the property. Depending on the area and property, this could include inspections for termites, dry rot, asbestos, faulty structure, roof condition, septic tank and well tests, just to name a few. Your REALTOR® can assist you in finding qualified responsible professionals to do most of these investigations and provide you with written reports. You will also want to see a preliminary report on the title of the property. Title indicates ownership of property and can be mired in confusing status of past owners or rights of access. The title to most properties will have some limitations; for example, easements (access rights) for utilities. Your REALTOR®, title company or attorney can help you resolve issues that might cause problems at a later date.

6. Your REALTOR® can help you in understanding different financing options and in identifying qualified lenders.

7. Your REALTOR® can guide you through the closing process and make sure everything flows together smoothly.

8. When selling your home, your REALTOR® can give you up-to-date information on what is happening in the marketplace and the price, financing, terms and condition of competing properties. These are key factors in getting your property sold at the best price, quickly and with minimum hassle.

9. Your REALTOR® markets your property to other real estate agents and the public. Often, your REALTOR® can recommend repairs or cosmetic work that will significantly enhance the salability of your property. Your REALTOR® markets your property to other real estate agents and the public. In many markets across the country, over 50% of real estate sales are cooperative sales; that is, a real estate agent other than yours brings in the buyer. Your REALTOR® acts as the marketing coordinator, disbursing information about your property to other real estate agents through a Multiple Listing Service or other cooperative marketing networks, open houses for agents, etc. The REALTOR® Code of Ethics requires REALTORS® to utilize these cooperative relationships when they benefit their clients.

10. Your REALTOR® will know when, where and how to advertise your property. There is a misconception that advertising sells real estate. The NATIONAL ASSOCIATION OF REALTORS® studies show that 82% of real estate sales are the result of agent contacts through previous clients, referrals, friends, family and personal contacts. When a property is marketed with the help of your REALTOR®, you do not have to allow strangers into your home. Your REALTOR® will generally prescreen and accompany qualified prospects through your property.

11. Your REALTOR® can help you objectively evaluate every buyer's proposal without compromising your marketing position. This initial agreement is only the beginning of a process of appraisals, inspections and financing -- a lot of possible pitfalls. Your REALTOR® can help you write a legally binding, win-win agreement that will be more likely to make it through the process.

12. Your REALTOR® can help close the sale of your home. Between the initial sales agreement and closing (or settlement), questions may arise. For example, unexpected repairs are required to obtain financing or a cloud in the title is discovered. The required paperwork alone is overwhelming for most sellers. Your REALTOR® is the best person to objectively help you resolve these issues and move the transaction to closing (or settlement).

PROTECT YOURSELF CONSUMER PROTECTION TIPS FOR HOME BUYERS AND SELLERS FROM THE NATIONAL ASSOCIATION OF REALTORS® HOME BUYERS · Check your credit report for accuracy and completeness. Buyers with inaccurate information on their credit report may have a hard time obtaining financing, or be offered loans at higher-than-market interest rates. The Fair Credit Reporting Act gives consumers the right to a free credit report from each of the three nationwide credit reporting companies every 12 months. Visit https://www.annualcreditreport.com/ to request a report. · Use the Internet wisely. NAR research shows that 77 percent of all recent buyers used the Internet to search for homes. Not all real estate Web sites are created equal, however. Buyers who provide personal information online to be referred to a network of real estate professionals are, in effect, authorizing the owners of that site to sell their information to third parties. To find a Realtor®, go directly to the source – NAR’s www.REALTOR.com. This Web site also houses the most comprehensive listings database in the country. Many buyers use the Internet to research mortgage lenders. Be careful when sharing financial or other personal information over the Web – predators can steal this data and the user’s identity. Realtors® can refer buyers to reputable, reliable lenders. · Educate yourself about mortgages and mortgage fraud. Many mortgage products are available in today’s market, but not all of them work for all buyers. NAR warns consumers against exotic loans and predatory lending practices that can poison the home buying process and trap unsuspecting borrowers into years of financial hardship. Visit www.REALTOR.org and search on “specialty mortgage” to read the brochure, “Shopping for a Mortgage? Do Your Homework First,” and consult a Realtor® to learn about different financing options and their implications over time. According to Fannie Mae, mortgage fraud has increased five-fold in the past 10 years. Unsuspecting home buyers who aren’t familiar with an area’s property values can be victimized by scam artists who have bought a property at a bargain-basement price and have made minor cosmetic changes to sell the home for much more than it’s worth. People with blemished credit can also fall prey to unscrupulous individuals who pose as real estate agents or mortgage brokers, offering promises of a new home and mortgage qualification. These buyers end up assuming a loan they can’t afford, and the lender forecloses. To protect yourself, work with a Realtor® who knows the local market, and check his or her credentials with the Realtor® board or association in your area. · Hire the right real estate professional for the job. When you’re buying a home, would you know what to do if your financing fell through the day before closing, your home inspection found a termite infestation, or your future neighbors had just built a wall on your property? As a buyer, you want someone who knows the market and who has experience handling the particular needs of home buyers, whether it’s identifying homes and neighborhoods, negotiating for the best deal, or coordinating the 20+ steps between contract acceptance and closing. Realtors® who have earned the Accredited Buyer Representative (ABR) designation have demonstrated their commitment to and expertise in serving home buyers. To earn the ABR designation, Realtors® must successfully complete a two-day designation course that covers agency, service delivery, marketing and promotion, and negotiation and risk management; take an approved elective course, such as buyer representation in new homes, second homes, or relocation; and have completed five transactions in which he or she acted solely as a buyer representative. Some real estate professionals offer rebates or may work on a fee-for-service basis, in which buyers may be responsible for their own property searches, negotiating strategies, or other tasks. These different business models give consumers a degree of choice in deciding how they want to work with their real estate professional. Just make certain you know what services are provided and what you can expect from the business relationship. Remember that you’re not just buying a home; you’re investing in your future. HOME SELLERS · Know your home’s value. Beware of companies offering to buy your home to save you the “hassle” of putting it on the market – these companies often profit at the seller’s expense. Ask several Realtors® in your area for a comparative market analysis, or CMA. These real estate professionals will analyze recent sales and market conditions to provide a realistic assessment of your home’s value, and can suggest strategies for the best sale. · Protect yourself and your home. Don’t allow random passersby into your home unescorted. A serious buyer will be working with a real estate professional or should be willing to contact your agent to schedule an appointment. Lock valuables away before an open house – the agent onsite will be monitoring traffic, but it’s impossible to be everywhere at all times. · Understand the purchase contract. A Realtor® can help evaluate purchase offers and advise you on counteroffers and contract acceptance. It is important to know how contingencies such as appraisal, financing and inspections will affect the transaction, and understand their implications for you as the seller. Remember, a high price offer is worthless if the buyer never makes it to the settlement table. · Hire the right real estate professional for the job. Relying on the experience of a real estate agent makes financial sense. An NAR survey of recent home buyers and sellers found that the median home price for sellers who use a real estate agent is 16 percent higher than a home sold directly by an owner; $230,000 vs. $198,200. Today, home sellers can choose from nearly 80,000 real estate brokerages and more than 1.2 million Realtors® with a number of different business models, including full service, fee-for-service, and discount brokerage. Full service brokerage is just that – agents handle all aspects of the transaction, including marketing the home, qualifying buyers, negotiating offers, and coordinating settlement. Discount brokers typically offer a reduced package of services at a lower cost to the seller. This may be a good choice for experienced sellers or those who do not need to sell immediately – a recent study by Pennsylvania State’s Smeal College of Business and the University of Texas at San Antonio found that homes listed by discount brokers are 12 percent less likely to sell than those listed by full service brokers. The fee-for-service business model offers consumers a variety of services for specific fees. Major facets of the buying or selling transaction, such as competitive market analysis, counseling and negotiations, are separated. NAR encourages innovation and competition, and recommends that home sellers interview at least three Realtors® to evaluate their qualifications and fit. Examine each professional’s level of experience and service, ask for referrals and talk to past clients. Don’t make an agent’s commission the sole deciding factor – you wouldn’t put your life in the hands of a doctor because he or she had the lowest fee; why would you want to do that with your largest financial investment? HOW TO CHOOSE A REAL ESTATE PROFESSIONAL The recent real estate boom has encouraged an explosion of real estate licensees. But getting a license and succeeding as a professional in the industry are two very different things. To find a true real estate professional – one who will represent your interests and provide valuable insight and advice regarding what is likely your biggest investment – follow these steps. · Do your research. Drive around your neighborhood or the area you’d like to live in, and make note of the active real estate agents in the area. Call local brokerages for agent recommendations, and specify whether you are buying or selling a home. Visit www.REALTOR.com to search for Realtors® across the country. This site allows visitors to search for either a specific Realtor®, or for those who specialize in specific neighborhoods or have specific certifications and designations. · Ask trusted friends and relatives for referrals. According to the 2005 National Association of Realtors® Profile of Home Buyers and Sellers, 44 percent of all recent buyers were referred to their real estate agent through a friend, neighbor, or relative. · Interview at least three agents. Ask each about their business approach and philosophy (do they offer full service, or will you have to assume some responsibilities in the transaction); experience; designations and advanced training; and referral network (home inspectors, lenders, contractors, etc.). Home sellers should also ask about the number of homes sold in the past year, length of time on market, average sales price in relation to asking price, and the agent’s marketing plan. · Make sure your agent is a Realtor®. A Realtor® is a licensed real estate professional who is a member of the National Association of Realtors® and subscribes to its strict Code of Ethics, which obligates Realtors® to be honest with all parties involved in a transaction, whether it is the buyer, seller, or cooperating agent. Realtors® also have access to educational opportunities and training in real estate specialties that are not available to other licensees. This includes accredited subspecialties such as buyer’s representation (ABR), residential real estate expertise (CRS), or Internet readiness (e-PRO). Through membership in NAR’s affiliated institutes, societies, and councils, Realtors® devote themselves to continuous study of the most recent trends in their fields to stay abreast of industry developments in their specialized areas and better address industry issues. A real estate licensee has passed an exam; Realtors® are real professionals.

Many of us didn't have moisture issues when we bought our homes but are definitely experiencing moisture issues now with all of the rain and excessive moisture in the last few years.  It may not be a bad idea to have a professional come out and evaluate the situation before you get over concerned or call your homeowner's insurance company.  If you need a few names of people to call, please email me.  I will be glad to share these with you.  In the meantime, the National Association of Realtors recently published a informative article that states the fact and dispels misinformation about the causes and effects of mold.  Here is the article. 

Frequently Asked Questions About Mold By Dr. Nathan Yost, MD. Building Sciences Corporation What causes mold to develop? Mold requires nutrients, water, oxygen and favorable temperatures to grow. Nutrients for mold are present in dead organic material such as wood, paper or fabrics; mold can also derive nutrients from some synthetic products such as paints and adhesives. Mold requires moisture, although some mold species can obtain that moisture from moist air when the relative humidity is above 70 per cent. Many molds thrive at normal indoor temperatures; few if any molds are able to grow below 40 F or above 100 F. Outside this range molds may remain dormant or inactive; they may begin to grow again when the temperature is more favorable. Temperatures well above 100 F will kill mold and mold spores, but the exact temperature required to kill specific species is not well established. How does mold get into a building? Molds are decomposers of organic material such as wood, plants and animals. Mold and mold spores are found in high concentrations wherever there is dead matter such as a pile of leaves, manure or compost. Mold spores enter buildings through the air or on people, animals and objects that are brought into the building. Spores are small bundles of genetic material and chemicals (similar to seeds) that molds make under certain conditions. Are there harmful and non-harmful molds? There are only a few molds that can cause infection in healthy humans. Some molds cause infections only in people with compromised immune systems. The biggest health problem from exposure to mold is allergy and asthma in susceptible people. There are more than 100,000 types of mold. Good information has been developed for only a small number of these molds – at least in terms of their effects on human health. Most people tolerate exposure to moderate levels of many different molds without any apparent adverse health effects. Some molds produce powerful chemicals called “mycotoxins” that can produce illness in animals and people. Scientific knowledge about the health effects of these toxins on humans is quite limited. Does mold affect everyone the same way? No. Some individuals have a genetic makeup that puts them at risk for developing allergies to mold. People who have an allergy to mold, especially if they also have asthma, can become ill from exposure to a small amount of mold. Individuals also seem to be quite different in their response to exposure to the toxic chemicals that some molds release. These differences between individuals contribute to the difficult question of determining safe exposure limits for mold. How much mold exposure is harmful? No one knows the answer to this question for several reasons. Individuals are very different with respect to the amount of mold exposure they can tolerate. Children under the age of one year may be more susceptible to the effects of some molds than older individuals. Measuring or estimating “exposure” levels is very difficult. “Exposure” means the amount of mold (microscopic spores and mold fragments) that gets into a person usually by breathing, but also by eating or absorption through the skin. For example, a building may have a lot of mold in the walls but very little of that mold is getting into the air stream. In that case the people working or living in that building would have little mold exposure. Can mold exposure cause brain damage or death? Although some “experts” claim that individuals have brain damage or have died because of exposure to mold and especially mold toxins, there is no good science at this time to support these claims. Consequently it is prudent to minimize one’s exposure to really moldy environments. By “really moldy” we mean where there are large visible areas of mold (more than a few square feet) or the building has a “musty” odor because of hidden mold growth. There are many epidemiological studies showing that people who live in houses with dampness have many more health problems, especially respiratory, than do people who live in dry houses. This association does not “prove” that it is the mold that is responsible for the increase in illness. However, it does support the assertion that it is not wise to live in damp, moldy buildings. Does tighter building construction promote mold development? Tighter building construction does not by itself promote mold growth, but tight construction combined with some poor choices in design, building materials or operations can increase the probability of mold growth. What do we mean? The tighter the building construction the less air exchange there is between the inside air and the outside air. Whatever gets into the inside air stays there longer than it would in a house with loose construction. Moisture that gets into the air from activities such as cooking, bathing and even breathing will remain in a tight house longer than it would in a loose house. That’s why exhaust fans should be installed in bathrooms and kitchens and vented to the outside. Clothes dryers should also be vented to the outside. Tight construction permits control of the air exchange between the inside and the outside and can prevent the deposition of moisture in walls and roofs. Controlling moisture, including indoor relative humidity is the key to preventing mold growth. Tight building construction when combined with source control of moisture (exhaust fans) and controlled ventilation (intentional introduction of outside air) reduces the probability of mold growth in a building. Controlled ventilation can be provided by a duct that brings outside air to the return side of the air handler of a forced air system. A timing device or fan cycler can be programmed to have the air handler turn on for a specified number of minutes each hour even when there is no call for heating or cooling. In cold climates controlled ventilation is frequently provided by a heat recovery ventilator (HRV). Do new building materials (e.g. drywall or paper faced gypsum board) promote mold growth? Mold needs water, a nutrient source, oxygen and favorable temperature to grow. Many species of mold love paper faced gypsum board. Why? Making paper involves the mechanical and chemical processing of wood. Paper is largely pre-digested so it is easy for mold to get nutrients from the paper. But unless there is enough moisture present mold can’t grow on the paper. If paper faced gypsum board is kept dry, it can be used and still not have mold. This material is kept dry by controlling the interior relative humidity, keeping rain from entering roofs and walls, and NOT using paper faced gypsum in areas that are likely to get wet. This means no paper faced gypsum board in shower and tub areas. Cement board, mortar or non-paper faced gypsum can safely be used in these damp areas because these products do not contain nutrients to support mold growth. Are there reliable tests to indicate the presence of mold? Almost all of us already have two effective mold detectors: our eyes and our noses. If black or green discoloration is noticed that is fuzzy in appearance and is in a location that is damp or had been damp, it is almost certainly mold. If a building smells musty, there probably is mold somewhere; the mold may be on boxes stored in a basement or in walls or in the crawl space. If you want to find mold, look for the presence of water or a location where water was likely to have been. If there is still any question about whether the black stuff is mold, have a reliable laboratory examine the material. All you need to know is whether mold is seen when the material is examined under the microscope. An increasing number of companies are offering “air testing for mold.” On the surface this seems like a reasonable thing to do. The problem, however, is that the results of most air sampling for mold are meaningless for two reasons. Air sampling for mold was not developed to determine if an environment was safe or had a dangerous level of mold in the air. Air sampling was developed to help identify the location of a hidden reservoir of mold. If the source of mold is already identified, air sampling does not provide additional meaningful information. Furthermore, safe or toxic levels of air borne mold have not been established. An individual air sample for mold provides a “snapshot” of what was in the air during the few minutes of sampling. The results may not be indicative of the amount of mold that is in the air during most of the day. Air sampling for mold should be done either to obtain an answer to a question that cannot be answered without the air sampling or to obtain data as part of a research project. The Center for Disease Control (CDC), the U.S. Environmental Protection Agency (EPA) and the American Conference of Governmental Industrial Hygienists do not recommend routine air testing for mold. If mold is present, what’s the best way to get rid of it? The answer depends on how much mold is present and where it is located. If the mold is on furnishings or boxes simply discard the materials. Moldy materials are not considered hazardous waste; they can be sent to a regular landfill. However, it is smart to seal the mold material in heavy plastic to protect the people who handle it in transit and prevent spreading large amounts of the mold into the building as you carry the material out of it. If the mold is on a hard surface but occupies less than 10 square feet wash the area with soapy water (scrubbing with a brush may be necessary), rinse and allow the area to dry before repainting. If you have asthma, severe allergies and a weaken immune system get someone else to do the clean up. Larger areas (greater than 10 square feet in area) should be cleaned by someone with experience in doing this type of work. Remember, determine what caused the moisture problem and correct that problem. Otherwise, mold is likely to recur. Is it possible to completely eliminate mold from the inside of a home or office building? The answer depends upon what is meant by “completely eliminate mold.” To keep a building completely free of mold spores requires very efficient air filtration and is only accomplished in special situations such as hospital operating rooms and manufacturing “clean rooms.” Remember, mold spores are in the outside air virtually all the time and some of them will get inside buildings. However, it is possible to keep mold from growing inside a building. Moisture control is the key to controlling mold in interior spaces. Air filtration can contribute to lowering mold spores in the air but is secondary to moisture control. Should I use bleach to get rid of mold? No. Although bleach will kill and decolorize mold, it does not remove mold. Dead mold can still cause allergic reactions. It is not necessary to kill mold to remove mold. Soap and water and scrubbing can remove mold from hard surfaces. The Environmental Protection Agency (EPA), the Center for Disease Control (CDC) and the New York City Health Department agree that bleach or other biocides should not routinely be used to clean up mold. How do I know when the mold clean up is finished? The mold cleanup is finished when there is no visible mold remaining and there is no dust or dirt remaining that could contain large amounts of mold and mold spores. Routine clearance testing for mold is not necessary. Leaving a few mold spores behind is not a problem if the underlying moisture problem has been corrected. Remember that mold spores are virtually everywhere. Even if all mold and mold spores are removed as part of the cleanup, spores from outside will re-enter that space. The spores won’t be able to grow unless water is also present. Where can I get more information about mold? Environmental Protection Agency Information on Mold/Moisture/Mildew. Available in HTML and PDF. Center for Disease Control Information on Mold. Various topics on mold including information about strains. New York City Department of Health “Guidelines on Assessment and Remediation of Fungi in Indoor Environments”. A variety of informational resources regarding mold. About the Author Dr. Nathan Yost, MD is a Principal with the Building Science Corporation, a building and construction consulting firm. Over the last twenty years, Dr. Yost has been a home builder, and a medical doctor specializing in respiratory illness. NAR has hired Dr. Yost on a contractual basis to provide its members with information and analysis on the scientific aspects of mold and moisture issues. The information contained in this FAQ is strictly the opinion of Dr. Yost, does not reflect NAR policy, and should not be construed as medical advice.