Bell Mountain Properties FAQ

Who is a Realtor®?

Working with a REALTOR makes all the difference - because a REALTOR is a member of your local real estate board, provincial/territorial association, and The Canadian Real Estate Association, which obliges the REALTOR to conduct business in accordance with high standards of business practice and to a strict code of ethics.

The code of ethics describes the optimum performance the public has a right to expect and makes that performance the “norm” for all members of the association. A REALTOR’s commitment to high standards of professional conduct works to the advantage of buyers and sellers alike. For example:

A REALTOR is knowledgeable about developments and trends in real estate.

A REALTOR is obliged to provide fair treatment to all parties in a transaction.

A REALTOR is committed to ongoing education to increase competence and effectiveness in real estate trading.

Whether you’re buying or selling a home, you can be assured of a commitment to public service and protection if you use the services of a REALTOR. This assurance makes all the difference. There are four important qualities on which a REALTOR builds his/her business:

Knowledge – If knowledge is power, then a REALTOR is the most powerful professional ally you can have when it comes to selling or buying your home. A REALTOR will get you the facts: comparable prices, neighborhood trends, housing market conditions, and more.

Trust – So hard to earn, so easy to lose. That's why your trust is a REALTOR’s most prized possession. They'll work hard to earn it, and even harder to keep it. Whether you're buying or selling, your REALTOR will keep you informed of developments in your transaction, and be there for you the moment you need help.

Service – It's an attitude. As members of The Canadian Real Estate Association, REALTORS are totally committed to the highest levels of client and customer service. They listen to you. And they answer to you. And she or he will bring professional negotiating skills, crucial knowledge of the real estate market, and a firm appreciation of the neighborhood.

Integrity – Either you have it or you don't. There are no shades of gray when it comes to honesty and forthrightness. The well–known trademark REALTOR is your assurance of integrity when it comes to buying or selling. And remember, only a REALTOR, a member of the Canadian Real Estate Association, has access to the Multiple Listing Service®, Canada's most powerful real estate marketing system. For more information about the Canadian Real Estate Association, visit their website at www.crea.ca.

How Can a Realtor® Help?

There are many ways a REALTOR can help you when you decide to sell your home.

Advice
A REALTOR will give you a step-by-step explanation about the home selling process – from beginning to end.

Resources
A REALTOR will share information about your property through the Multiple Listing Service® (MLS®) and on the Internet. This provides maximum exposure of your home to other REALTORS and their clients – a powerful marketing tool.

Legwork
A REALTOR will place advertisements for your home and field phone calls about the property. Less hassle and quicker results for you!

Qualifies the Buyers
A REALTOR will “qualify” potential buyers to ensure that they are financially able to buy your property.

Negotiation
A REALTOR will negotiate the sales contract and professionally close the deal for you.

Find out more by talking to your REALTOR. Refer to our "Find a Realtor®" section.

What is a Real Estate Board?

Calgary Real Estate Board (CREB®)
The Calgary Real Estate Board is ranked as one of the largest real estate boards in Canada. It represents approximately 4,800 licensed REALTORS from over 250 offices. The geographical area served by the board includes Calgary, Sundre, High River, Oyen, and Banff/Canmore.
Our members are licensed professionals governed by a high standard of professional service and a strict code of ethics. CREB® REALTORS are committed to providing the best possible service to their clients and customers. One of the main functions of CREB® is the operation of the Multiple Listing Service (MLS®). Through MLS®, members and in turn their clients, have immediate access to the latest information on properties listed for sale. In excess of 30,000 residential properties per year, representing over 90% of the market, are listed on MLS®.

Alberta Real Estate Association (AREA) -- www.abrea.ab.ca
The Alberta Real Estate Association is a not-for-profit society representing the interests and concerns of licensed REALTORS in Alberta. AREA’s membership includes 9,000 REALTORS (including 4,800 CREB® members) and their 11 real estate boards in all regions of the province.

Canadian Real Estate Association (CREA) -- www.crea.ca
The Canadian Real Estate Association is one of Canada’s largest single-industry trade associations, representing approximately 66,000 real estate brokers and agents, and working through 112 real estate boards, 10 provincial associations, and one territorial association. CREA’s primary mission is to represent its members at the federal level of government and act as a watchdog on national legislation that pertains to the real estate industry. CREA has frequently taken strong stands to defend the public’s right to own and enjoy property.

Real Estate Council of Alberta (RECA) -- www.reca.ab.ca
The Real Estate Council of Alberta is an independent, non-government licensing agency, responsible for the regulation of the real estate industry. The real estate industry consists of several sectors – residential, commercial, property management, business brokerage, and mortgage brokerage. RECA is mandated to protect consumers and to provide services that enhance and improve the industry and the business of industry members.
Brokers and Agents
In Alberta, a Broker is a person licensed by the real estate council to trade in real estate. Real estate Brokers may form companies or offices which appoint Agents to provide services to the seller or buyer, or they may provide the same services themselves. Agents were previously referred to as Salespeople or Sales Representatives.

Realtor vs. doing it yourself

Maximized exposure
The key to selling quickly and getting top dollar is exposure. The more people who see your home, the sooner you will find a willing buyer. How do you get the most exposure? If you sell the home yourself, you will get some exposure by putting up a sign, running some ads, and telling your friends. On the other hand, if you work with a REALTOR you will get instant and mass exposure to a large number of prospective home buyers.

A REALTOR has access to the Multiple Listing Service® (MLS®).
This service, a computerized system operated by the local real estate board, compiles information about listed properties in the area and makes it accessible to member companies. As a result, when a REALTOR lists your home, REALTORS from other companies learn about your home and try to match it with buyers with whom they are working. These buyers may include people from out-of-town who are trying to relocate to your area.

A REALTOR can speed the selling process in other ways:

By specializing in real estate, a REALTOR knows market values and can therefore help you set a competitive price for your home.

A REALTOR can free you from the hassles associated with showing your home and screen out people who are merely curious.

A REALTOR is objective when negotiating with buyers and experienced in reading the fine print of contracts.

By staying on top of the mortgage market, a REALTOR may know how to wade through financing tangles and clinch a sale.

Selling a home is not something that anyone can do in their off-hours. It's a specialized service best handled by a professional. Best handled by a REALTOR.

Why use a Realtor?

We may have hinted that Realtors® can make selling a home a whole lot easier. There are many advantages, some of which you probably didn't even know about, for instance:

The Code of Ethics A Commitment to the Public
In 1913, The NATIONAL ASSOCIATION OF REALTORS® took a nearly unprecedented step and followed the professionals of medicine, law, and engineering in establishing and enforcing a Code of Ethics and Standards of Practice for its members.

Now, as then, members pledge to abide by the Code, observing its spirit in all activities and conducting business in accordance with the tenets set forth in its articles.

In the interpretation of this obligation, a Realtor® can look to no safer guide than that which has been handed down through the centuries, embodied in the Golden Rule. "Whatsoever that ye would that men should do to you, do ye even so to them."

Source: NAR "Targeting Prospective Buyers and Sellers" 1995
The Code of Ethics of the NATIONAL ASSOCIATION OF REALTORS® sets Realtors® apart from nonmember agents and is the promise to the public that when dealing with a Realtor®, they can expect fair and ethical treatment in all transaction-related matters. Only Realtors® pledge to abide by a real estate code of ethics, and only Realtor® are held accountable for their professional behavior.

Here, in our area, most real estate professionals belong to the LONG ISLAND BOARD OF REALTORS® (LIBOR). Through this association, they are also members of the NEW YORK STATE ASSOCIATION OF REALTORS®, and as we mentioned, the NATIONAL ASSOCIATION OF REALTORS®. In fact, there are over 12,000 members in LIBOR alone, making it the largest local Realtor® association in the country. In fact, LIBOR has more professional members than many state boards. Every Realtor® that participates in the Multiple Listing Service is a member of LIBOR. This is your assurance that they have agreed to uphold the highest level of professional standard in their business practices. Those that violate the Code of Ethics face disciplinary action from the Board of REALTORS® and possibly even the New York State Department of State's Division of Licensing Services, under whom they are licensed to sell real estate.

So that NAR members remain on the cutting edge of industry professionalism, the Association regularly reviews the Code of Ethics and the Standards of Practice, and modifies them when appropriate. As a result, the Code of Ethics reflects the ongoing changes in the real estate industry, focuses the thinking of Association leaders, and strengthens the commitment of members. Now that we've thoroughly investigated many of the aspects of selling a home, let's weigh out the benefits of using a Realtor® versus selling privately:

Why us an MLS Realtor?

Pros

Cons

Maximum exposure through MLS Immediate startup - no learning curve Experienced negotiators Expert representation Has contact with buyers Knowledgeable about the transaction Pre-qualifies prospects Aware of current trends Expert at pricing Proficient in marketing Understands financing Relocation affiliations Internet exposure Local, national & international referrals Stress-free sale Available 7 days a week Seller doesn't have to stay home! Professional representation Shows the home's best points Handles and screens callers Cooperates with MLS Realtors® Brings serious buyers Objective advisor Expedites documents Prepares marketing materials Farms for prospects Advertises for you Facilitates the presentation of multiple offers and counter offers Provides professional signs

Realtors® charge a fee

The Bottom Line

Realtors® give a guarantee. If your home doesn't sell, even after all of their efforts, they don't get paid! If you attempt to sell your home, without the aid of a Realtor®, the expenses you have will be the same whether your home sells or not.

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