BELLINGHAM, WA (MyBellinghamNow.com) – Equity, pre-approval, contingencies, appraisal. These are terms associated with buying real estate, but even seasoned home buyers may not fully understand them. Navigating the real estate market can be challenging, but in today’s economic climate, marked by inflation, high interest rates and high home prices across the country, it is more important than ever to understand the details that are involved in buying and selling property. That’s just one of many reasons why buyers and sellers can benefit from the help of a seasoned real estate professional.

Types of real estate professionals
A “Realtor” is a registered term used to describe a real estate professional who is a member of the National Association of Realtors. Realtors® are held to a strict code of ethics, ensuring they prioritize their clients’ needs with integrity and professionalism. They are committed to educating their clients, navigating contracts, staying current or real estate laws and practices, and engaging with their communities. Sometimes Realtors® are also referred to as agents or brokers. A real estate Managing Broker does the same jobs as an agent but is also licensed to work independently and generally manages other agents in a brokerage.

Buyer and seller
A real estate professional may represent either the buyer or seller or both. A buyer’s agent is negotiating for the buyer in the transaction, while a seller’s agent negotiates for the seller. Real estate professionals also can represent both parties, known as dual agency.

Why work with a real estate professional?

Working with a real estate professional offers several advantages including working with a trusted partner who is looking out for your best interest and is committed to making the process as rewarding and memorable as possible.

Expertise: Considering that buying and selling a home is one of the biggest financial transactions one will make, it makes sense to leave it in the hands of experienced professionals who know the local market, including current trends and property values.

Price a home right: Real estate professionals will conduct a market analysis and look at “comps” in the area to price your home to sell quickly and for the best price. When working with buyers, your agent will analyze home prices in the neighborhood to ensure your offer is reasonable and fair.

Access to MLS: Real estate professionals have access to the Multiple Listing Service, which is widely used across the United States for listing available properties. It helps sellers sell faster and will enable buyers to view multiple properties all in one database.

Negotiations: Your agent is a skilled professional that has experience with handling offers and counter offers. Leaving negotiations to your agent removes emotion from the transaction and can help everyone involved resolve issues and agree on acceptable terms.

Buying and selling real estate is a complex process. Real estate professionals can simplify the process and make it more enjoyable for buyers and sellers alike.