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NAR Consumer Guide: Home Inspections

NAR Consumer Guide: Home Inspections

A home inspection is an assessment of a property’s condition, covering structural elements, electrical and plumbing systems, HVAC, and potential health hazards like mold and radon. Though not required, buyers often include inspections as a contingency in their purchase agreements to identify potential issues. Some buyers waive inspections to strengthen offers in competitive markets.

Certified inspectors from organizations like ASHI or InterNACHI conduct inspections, with costs typically covered by buyers. Sellers may opt for pre-listing inspections to gain insights and control over repairs. Buyers can attend inspections to understand a home’s condition better. Inspections usually take at least two to three hours and commonly reveal issues like structural problems, faulty wiring, drainage concerns, and HVAC inefficiencies.

Homes sold “as-is” mean sellers won’t make repairs, so buyers should assess risks carefully. Real estate laws vary by state, so consulting professionals is advised. More information is available at NAR.

Understanding the Difference Between a Real Estate Agent and a REALTOR®

Understanding the Difference Between a Real Estate Agent and a REALTOR®

If you’re navigating the world of real estate, you’ve probably encountered the terms “real estate agent” and “REALTOR®.” While these roles are similar, they are not the same. Understanding the distinction can help you choose the right professional to guide you through your homebuying or selling journey.

What is a Real Estate Agent?

A real estate agent is a licensed professional who helps clients buy, sell, or rent properties. To become a real estate agent, individuals must:

  • Complete pre-licensing education requirements.
  • Pass a state licensing exam.
  • Adhere to the laws and regulations governing real estate in their state.

Real estate agents can specialize in residential, commercial, or other areas of real estate. They are skilled in market analysis, negotiation, and helping clients navigate the complexities of real estate transactions.

What is a REALTOR®?

A REALTOR® is a real estate agent who is an active member of the National Association of REALTORS® (NAR), the largest trade association in the United States. To earn the REALTOR® designation, agents must:

  • Hold a valid real estate license.
  • Join their local REALTOR® association.
  • Pledge to adhere to NAR’s strict Code of Ethics.

The Code of Ethics sets REALTORS® apart by requiring them to uphold high standards of professionalism and prioritize their clients’ interests.

Key Differences Between Real Estate Agents and REALTORS®

  1. Membership and Ethics:
    All REALTORS® are real estate agents, but not all real estate agents are REALTORS®. REALTORS® are bound by NAR’s Code of Ethics, which goes beyond state licensing requirements to promote fairness, honesty, and integrity.
  2. Professional Development:
    REALTORS® often participate in additional training, certifications, and resources provided by NAR to stay informed about industry trends and best practices.
  3. Advocacy and Influence:
    REALTORS® contribute to advocacy efforts that shape housing policies and protect property rights, benefiting consumers and communities.

Why Does This Matter to You?

Whether you’re buying or selling a home, working with a REALTOR® can provide added assurance that your agent is committed to ethical conduct and ongoing education. REALTORS® have access to industry-leading tools and resources to support your real estate goals, as well as a network of professionals to help you navigate challenges.

How to Choose the Right Professional

  • Ask Questions: Determine if the professional is a REALTOR® and inquire about their experience, certifications, and approach to transactions.
  • Evaluate Compatibility: Look for someone who understands your needs, communicates effectively, and aligns with your goals.
  • Check References: Request testimonials or referrals to confirm their track record of success.

In Conclusion

While both real estate agents and REALTORS® can assist with your real estate needs, REALTORS® bring an additional level of accountability, training, and professionalism. By choosing a REALTOR®, you gain a partner who is dedicated to helping you achieve success in one of life’s most important transactions.

When you’re ready to take the next step in buying or selling a home, consider reaching out to a trusted REALTOR® to ensure you’re in good hands.

Introducing the Latest Consumer Guide: The Appraisal Process

Introducing the Latest Consumer Guide: The Appraisal Process

We’re excited to announce that NAR has released the newest addition to the “Consumer Guide” series: The Appraisal Process. This resource offers valuable insights into what an appraisal is, the data analyzed during the process, and how lenders use the appraisal value to determine borrowing limits for buyers.

All guides in the series, available in both English and Spanish, can be downloaded from facts.realtor. For your convenience, here’s a list of the most recent guides in the series:

We are sharing these resources with you to help ensure you’re equipped with the knowledge you need to navigate your homebuying or selling journey.