In today’s topsy-turvy real estate environment, it pays to have a knowledgeable expert by your side when it comes to buying or selling a home. Unfortunately, what many people don’t know is that there is a difference when it comes to selecting a professional real estate partner.
In Georgia, across the nation and around the globe, there are two types of industry professionals who are legally allowed to assist you in transacting home sales and purchases: real estate licensees and Realtors. So what is the difference?
Realtors, who can be recognized locally through their Atlanta Board of Realtors (ABR) membership, are distinguished by excellence in three areas: advocacy, production and professionalism. Take “Production” as our first example because the numbers speak for themselves. In metro Atlanta, Realtors make up nearly 90 percent of the top 100 real estate agents, and approximately 90 percent of all real estate firms in Georgia are Realtors. That means Realtors represent most of the leading producers in the industry.
In terms of “professionalism” only Realtors have agreed to adhere to a strict code of ethics. ABR additionally offers a Professional Standard process to oversee any complaints that may arise from alleged unethical conduct. If you are a buyer or a seller who encounters unethical conduct, then you have the ability to file a complaint in order to attempt to resolve the issue. Licensees that are not Realtors have not agreed to follow the same code of ethics so buyer and sellers who contract with them do not have that same level of protection.
In addition, Realtors use Association-approved, Georgia specific legal contracts that ensure your transaction is in complete compliance. They also have access to market specific forums and national resource center to draw upon in the sale or search of your home, and and they have access to advanced education on current tools, industry certifications and the latest trends. In other words, Realtors know what to do and when to do it as it pertains to what most likely will be the biggest transaction in your lifetime.
When it comes to “advocacy”, Realtors actively support real property ownership and private property right to government at all levels. Only Realtors, no licensees, are fighting to preserve the federal Mortgage Interest Deduction on primary and second homes. Only Realtors, not licensees, fought to create a tax exemption on the first $500,000 of capital gains from sale of a principal residence. And, Realtors, no licensees, are only line of defense against government legislation and taxation of your home.
With less than 50 percent of the active real estate licensees in Georgia electing to become Realtors, I urge any metro Atlanta home buyers and sellers to ask prospective agents: “Are you a REALTOR?”
The Atlanta Journal and Constitution, September 9,2012