The Critical Role of the Realtor
Listed on the following pages are nearly 200 typical actions, research steps, processes and review stages
necessary for a successful residential real estate transaction and normally provided by a full service real
estate brokerage and for which they are entitled to fair compensation.
Comprehensiveness
The list is by no means an attempt to set forth a complete list of services as these may vary within each
brokerage and each market. Many REALTORS® routinely provide a wide variety of additional services that
are as varied as the nature of each transaction.
By the same token, some transactions may not require some of these steps to be equally successful.
However, most would agree that given the unexpected complications that can arise, it’s far better to know
about a step and make an intelligent, informed decision to skip it, than to not know the possibility even
existed.
The REALTOR® Commitment
Through it all, the personal and professional commitment of the REALTOR® is to ensure that a seller and
buyer are brought together in an agreement that provides each with a “win” that is fair and equitable.
The motivation is easy to understand. For most full-service brokerages, they receive no compensation
unless and until the sale closes.
By contrast, there are firms that offer “limited services” in exchange for an up-front flat fee, or perhaps offer
a menu of pay-as-you-go or “a la’ carte” options. Some even offer a sliding scale ranging from limited to full
service. In these cases, the compensation of the REALTOR® is based on these reduced service levels
with the seller bearing full responsibility for all the other steps and procedures in the selling process. In
short, the marketplace truism is that “you get what you pay for.”
A Variety of Choices
The variety of brokerage business models in today’s real estate industry affords the homeowner a greater
range of options than ever before.
But no matter which option is chosen, before signing a Listing Agreement or otherwise engaging the
services of a REALTOR® and agreeing to compensate them, homeowners should understand exactly what
services will, or will not, be provided.
Why Use A REALTOR®?
Not every real estate agent or broker is a REALTOR®. That term and the familiar Block “R” logo are
trademarked by the National Association of REALTORS® and can only be used by those are REALTOR®
members through their local association of REALTORS®.
While all REALTORS® are state-issued licensees as agents or brokers, the major difference between a “real
estate licensee” and a REALTOR® is that REALTORS® have taken an oath to subscribe to a stringent,
enforceable Code of Ethics with Standards of Practice that promote the fair, ethical and honest treatment of
all parties in a transaction. Non-member licensees have taken no such oath and are not morally bound to
the ethical practices and principles set for in the REALTOR® Code.
For that extra measure of peace of mind, ensure the individual seeking to represent you is both a real estate
licensee and a REALTOR®. Visit the Orlando Regional REALTOR® Association’s website, orlrealtor.com,
for a searchable list of our REALTOR® members.
The Critical Role of the REALTOR®
Listed here are nearly 200 typical actions, research steps, procedures, processes and review stages in a
successful residential real estate transaction that are normally provided by full service real estate
brokerages in return for their sales commission. Depending on the transaction, some may take minutes,
hours, or even days to complete, while some may not be needed.
More importantly, they reflect the level of skill, knowledge and attention to detail required in today’s real
estate transaction, underscoring the importance of having help and guidance from someone who fully
understands the process – a REALTOR®.
And never forget that REALTORS® are pledged to uphold the stringent, enforceable tenets of the
REALTOR® Code of Ethics in their professional dealings with the public. Not every real estate licensee
holds REALTOR® membership. Make sure yours does! - Fri Sep 12 2008, 11:57