Why Hire a Realtor®?
First of all not all real estate licensees in Tennessee are REALTORS®. REALTORS® are real estate licensees who have made a professional decision to become members of the National Association of REALTORS ® through the Knoxville Area Association of REALTORS® and adhere to a strict Code of Ethics with Standards of Practice that promote the fair, ethical and honest treatment of all parties in a transaction in addition to the Real Estate Laws of Tennessee. The term REALTOR® and the familiar Block “R” logo are trademarked by the National Association of REALTORS® and can only be used by REALTORS®.
Many homeowners and home-buyers are not aware of the true value a REALTOR® provides during the course of a real estate transaction. At the same time, regrettably, REALTORS® have generally assumed that the expertise, professional knowledge and just plain hard work that go into bringing about a successful transaction were understood and appreciated. Many of the most important services and steps are performed behind the scenes by either the REALTOR® or their brokerage staff and traditionally have been viewed simply as part of their professional responsibilities to the client. But, without them, the transaction could be placed in jeopardy.
REALTORS® routinely provide a wide variety of services that are as varied as the nature of each transaction. Some transactions may not require as many steps to be equally successful. However, most REALTORS® 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.
Through out a transaction, 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 REALTORS® will receive no compensation unless and until the transaction 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. A new Tennessee Law that became effective July 1, 2006 now requires a “limited services” firm to make sure the seller understands and agrees fully to the services they will and will not receive. In short, the marketplace truism is that “you get what you pay for.”