Why Work with a Columbus Ohio Realtor to Buy or Sell Real Estate in Central Ohio?
What is a REALTOR®?
Columbus Ohio REALTORS® are licensed real estate professionals who are members of the Columbus Board of REALTORS®, and subscribe to, the National Association of REALTORS® strict Code of Ethics. REALTORS® must complete coursework, licensing exams and have ongoing continuing education requirements in order to keep their license. Their clients have the right to expect and receive specific fiduciary duties of confidentiality, loyalty, faithfulness, full-disclosure, obedience, reasonable care, diligence and accounting.
REALTORS® employ the highest expertise in providing service, savings and satisfaction, as well as pledge to provide fair and ethical treatment to both buyers and sellers. REALTORS® can assist you with buying, selling, building, relocating and investing in the Columbus Ohio real estate market.
REALTORS® in Columbus and Central Ohio can represent either the buyer or the seller, or both, if the situation arises where the listing is one that is listed by the buyer's agent. This situation would be considered dual agency in the State of Ohio and requires that the real estate agent treat both parties honestly and fairly.
WHY WORK WITH A COLUMBUS OHIO REALTOR®?
When you are ready to buy, sell or build your home, condo or investment property consider the following questions:
- Do you have the time, energy, sources of information and contacts to do the job yourself?
- Do you have the knowledge to understand all aspects of buying or selling and how current or constantly changing market trends affect the Columbus Ohio real estate market?
- Do you anticipate the results of your transaction will be as good or better than they would be if you had a professional Columbus Ohio real estate agent assisting you?
- Would working with a REALTOR® help the process go more smoothly and protect your best interests?
- Do you think having a REALTOR® involved might likely allow you to purchase for less or sell for more?
The process of buying, selling and building a new home in Columbus Ohio can be a confusing, complex endeavor. Finding the right Columbus Ohio REALTOR® is the first of many important steps that can make a difference in how quickly you sell or buy your home, condo or investment property and for how much.
WHAT CAN REALTOR® DO FOR YOU?
As a home buyer or seller in the Columbus Ohio real estate market, you will benefit from the services of an experienced Columbus Ohio REALTOR® throughout the home buying or selling process. A good real estate agent will:
- Help you determine what the proper selling price of your home should be, or how much home you can afford.
- Suggest ways to accrue the down payment and explain alternative financing methods when buying.
- Share information on current property values in the Columbus Ohio real estate market, taxes, utility data, municipal services, and local zoning changes they may be aware of.
- Research your housing needs through the Columbus Ohio MLS and other sources for non listed homes.
- Show you homes that best meet your needs and desires.
- Suggest simple and imaginative changes to enhance your home's appeal, to help it sell more quickly and improve it's value.
- When selling your home, provide exposure to attract buyers that you couldn't possibly do on your own.
Look for a Columbus Ohio real estate agent who is sensitive to the major commitment you are about to make and will take the time to address your particular needs.
HOW DO REALTORS® WORK?
All of this work is done with a desire to earn your loyalty, develop a lasting relationship with you and build a personal reputation for the highest quality professional service. While home buyers usually don't have to pay a buyer's agent anything, sellers typically pay a commission to the listing brokerage company, based upon a percentage of the selling price. The listing broker then splits the commission with the listing agent and also provides a co-op fee to the buyer's broker who then splits their share of the commission with the buyers agent.
Some buyer's think that if they go directly to the listing agent to purchase a home they may get a better deal. This is simply not true because the commission is determined up front, in the listing agreement. It simply means the listing agent will get all of the commission and the buyer does not get the true representation they deserve. REALTORS® in Columbus Ohio, have a contractual agreement with their real estate broker, which states they may list and sell real estate as an independent, licensed REALTOR® representing the broker.
Here's a chart showing the typical commission split in the Central Ohio Real Estate Market:
|COMMISSION STRUCTURE BREAKDOWN|
|A commission of 5-6% of the home sale is paid by|
|the seller to the listing agent's broker company.|
|LISTING AGENT||BUYER'S AGENT|
|2-3% goes to the listing agent's broker company.||10-50% is retained by the listing agen's broker.|
|The listing agent is paid by their broker company.||3% goes to the buyer's agent's broker company.|
|20-50% is retained by the buyer's agent's broker.||The buyer's agent is paid by their broker company.|
Did you know that REALTORS® are self-employed
Since REALTORS® are self-employed, they receive NO:
Salary, company car, expense account, vacation pay, health insurance, retirement, social security benefits, etc. REALTORS® are not paid for their efforts but are paid only after successfully completing a property transaction at closing. A REALTOR'S® pay can vary depending on which real estate company they work for. REALTORS® are generally on call 7 days a week and work extended hours. This is obviously not your traditional 9-5 job.
REALTORS® also pay for their own expenses to operate a successful business:
- Licensing fees
- MLS access fees
- Gas mileage
- Columbus Board of REALTORS® fees
- Continuing education courses
- All property advertising
- Lock boxes
- Yard & open house signs
- Virtual tour charges
- Advertising & marketing of their services
- Web site maintenance & hosting
- Cell phone, paging & answering services, etc.
- Creation & copying of home brochures
- Postage & courier fees
- Business cards, stationary & office supplies
- Personal assistant salary & taxes
- Computer hardware & software
- Conference & convention expenses
- Office rent
- Membership dues for industry associations
...and much more!
REALTORS® spend their time:
- Counseling buyers & sellers
- Showing homes to buyers
- Marketing their listings
- Coordinating transactions, documents and a multitude of details from contract to closing
- Previewing homes for buyers and sellers
- Holding open houses
- Maintaining their website
- Researching financing options
- Staying informed of current market trends
- Keeping up with legal issues that effect Columbus Ohio real estate
- Continuing professional education courses
I hope this information helps you better understand the real estate profession and how working with a REALTOR® can benefit you. My job as your Professional Columbus Ohio REALTOR® is to provide all the necessary information, show you all of your options and provide the guidance you need to make an educated decision on your Columbus Ohio Real Estate needs - all while looking out for your best interests throughout the process. There are many bad stereotypes of real estate agents and I work very hard to ensure you realize they don't apply to all agents, especially not me!