REALTORS® aren’t just agents. They’re professional members of the National Association of REALTORS® and subscribe to its strict code of ethics. This is the REALTOR® difference for home buyers:
- Ethical treatment. Every REALTOR® must adhere to a strict code of ethics, which is based on professionalism and protection of the public. As a REALTOR®’s client, you can expect honest and ethical treatment in all transaction-related matters. The first obligation is to you, the client.
- An expert guide. Buying a home usually requires dozens of forms, reports, disclosures, and other technical documents. A knowledgeable expert will help you prepare the best deal, and avoid delays or costly mistakes. Also, there’s a lot of jargon involved, so you want to work with a professional who can speak the language.
- Objective information and opinions. REALTORS® can provide local information on utilities, zoning, schools, and more. They also have objective information about each property. REALTORs® can use that data to help you determine if the property has what you need. By understanding both your needs and search area, they can also point out neighborhoods you don’t know much about but that might suit your needs better than you’d thought.
- Expanded search power. Sometimes properties are available but not actively advertised. A REALTOR® can help you find opportunities not listed on home search sites and can help you avoid out-of-date listings that might be showing up as available online but are no longer on the market.
- Negotiation knowledge. There are many factors up for discussion in a deal. A REALTOR® will look at every angle from your perspective, including crafting a purchase agreement that allows enough time for you to complete inspections and investigations of the property before you are bound to complete the purchase.
- Up-to-date experience. Most people buy only a few homes in their lifetime, usually with quite a few years in between each purchase. Even if you’ve done it before, laws and regulations change. REALTORS® handle hundreds of transactions over the course of their career.
- Your rock during emotional moments. A home is so much more than four walls and a roof. And for most people, property represents the biggest purchase they’ll ever make. Having a concerned, but objective, third party helps you stay focused on the issues most important to you.
SOURCE: REALTOR® Magazine
October 26, 2021Read more…
Only real estate professionals who are members of the NATIONAL ASSOCIATION OF REALTORS® (NAR) can call themselves REALTORS®. All REALTORS® adhere to NAR’s strict Code of Ethics, which is based on professionalism and protection of the public. That’s why all real estate licensees are NOT the same.
Dedicated to serving America’s property owners at both local and national levels, the NATIONAL ASSOCIATION OF REALTORS®, The Voice for Real Estate®, is the largest professional association at over one million members strong.
So, whether you’re buying or selling a home — it pays to work with a REALTOR®. Look for the REALTOR® logo when choosing your real estate agent.
REALTOR® Designations —The Mark of Expertise and Service
The NATIONAL ASSOCIATION OF REALTORS® has a variety of affiliates that provide designations acknowledging experience and expertise in various real estate sectors. NAR also offers designations and certification programs to its members, including:
ABR® – REBAC (Real Estate BUYER’S AGENT Council) awards the ABR® (Accredited Buyer Representative) designation to REALTORS® who meet education and experience requirements to better prepare them to represent buyers.
CIPS – Focused specifically in aspects “international,” these REALTORS® have a familiarity with assisting foreign investors, helping local buyers invests abroad, or serving an immigrant buyer locally; designees are the best resource in international real estate.
CRS – A CRS REALTOR® is a Certified Residential Specialist – one of the top 3 percent of real estate agents in the U.S. CRS agents have more experience and training than the average REALTOR® and they are part of a community of REALTORS® dedicated to improving the real estate industry for homebuyers and sellers everywhere. If you’re looking to buy or sell a home, look for a Certified Residential Specialist, a CRS.
GREEN – NAR’s Green Designation. You have made the commitment to environmental consciousness; choose a REALTOR® who understands and shares your green real estate goals. Choose an NAR Green Designee.
GRI – A REALTOR® with the Graduate REALTOR® Institute (GRI) designation is trained in many areas, including legal and regulatory issues, professional standards, the sales process and technology. A minimum of 90 hours of training is required to achieve the GRI designation.
MRP – Homeownership is an important part of the fabric of America, and having a stable home environment is vital when men and women of the military are called away to serve their country. That’s why working with a REALTOR® who understands their specific needs and timetable will help make the transfer easier, faster and less stressful. A REALTOR® with the MRP certification has the knowledge and skills for working with veterans and active duty military buyers and sellers to ensure that homeownership remains affordable and accessible.
SRES – Over the age of 50 and considering selling the family home? SRES® designees have all the resources and knowledge to simplify the transaction and eliminate the anxiety of selling your home. So if you’re thinking of buying, selling, renting or relocating, find an SRES® in your area for specialized help with your real estate transaction.
April 5, 2021Read more…
Shiloh, IL – How about a career in real estate? The REALTOR® Association of Southwestern Illinois (RASI), a training center for Illinois REALTORS®, will hold two real estate broker pre-license courses via Zoom. The new 75-hour broker pre-license course is a mandatory basic course for those who would like to begin a career in real estate.
The real estate industry has evolved into a highly specialized business that also involves various specialties. There are various fields of the real estate industry, including Residential Brokerage, Commercial Brokerage, Industrial Brokerage, Farm & Land Brokerage, Land Developer, and Professional Real Estate Assistant.
To begin a career in real estate in Illinois, one must:
- be at least 18 years old
- be a high school graduate or equivalent (GED);
- complete 75 hours of broker course work, including 15 hours of interactive training
- pass the state exam with a score of 75% or better
- be sponsored by a sponsoring managing broker in Illinois
The 75-hour Broker Pre-Licensing course includes a daytime course Mondays from 9:00 am to 4:00 pm, starting Monday, April 12th through Thursday, June 8th. There’s also an evening course on Tuesdays and Thursdays from 6:00 pm to 9:30 pm, beginning on Tuesday, May 4th through Thursday, July 15th. All classes observe federal holidays.
The class is being held via Zoom Video Conferencing due to current social distancing standards, so students must have a computer with a working camera to attend classes.
The cost of the class is $585 – $625, depending on how early you register. The cost of the class includes books and materials, classroom instruction, and the 15 hours of interactive learning.
Financial assistance is available for the pre-license course. The Illinois Education and Training Grant is a scholarship for eligible individuals who are pursuing a real estate degree or license in the state of Illinois. The grant may be used towards Illinois REALTORS® D2L online courses (75-hour Pre-License Topics course & 15-hour Broker Pre-License Interactive webinar) or any live classroom offered at an Illinois REALTORS® branch. Information about this and other scholarships is available on the REEF website and inquiries may be directed via email or by phone call to 866-854-7333.
U.S. military veterans who want to start a career in real estate may apply for reimbursement of their Illinois REALTORS® pre-license class fees through the GI Bill®. The federal program applies to live pre-license classes provided by Illinois REALTORS® Licensing & Training Center education branches. Only live (including Zoom Video Conferencing), instructor-led courses are eligible for reimbursement.
The Illinois Real Estate Educational Foundation (REEF) administers the Illinois Minority Real Estate Scholarship Program in partnership with the State of Illinois, which allows us to award 60 scholarships each year to qualified racial residents of Illinois pursuing courses of study that will prepare them for careers relating to real estate or enhance the skills and knowledge that they currently use as real estate professionals. As a part of the Diversity Initiative, Illinois REALTORS® is partnering with REEF to increase the number of scholarships awarded by another 40 annually. The number of Illinois Minority Real Estate Scholarships will significantly increase to 100 scholarships awarded each year.
To register for this course or for more information on RASI and real estate careers, visit 618realtor.com or contact the office at (618) 277-1980.
March 15, 2021Read more…
The Real Estate License Act has been signed into law. Some provisions pertaining to education must go through a rule-making process that can take months. The signing marks the end of months of legislative work by Illinois REALTORS® and the Illinois Department of Financial and Professional Regulation — which by statute must be done every decade — to strengthen rules for training and professionalism and enhance consumer protections. Get highlights of the changes at www.IllinoisRealtors.org/Legal/Legal-a-z/rela_rewrite (member login required)
August 19, 2018Read more…
What should you do if you feel a REALTOR® has behaved unethically? What should you expect if you are a claimant in a Code of Ethics complaint?
Michael Oldenettel, 2018 Chair of the Illinois REALTORS® Professional Standards Committee, walks you through the process.
Associations have the responsibility of enforcing the REALTORS®’ Code of Ethics. Before you file an
ethics complaint, please first review this document.
If you decide to file the complaint, please return the completed Ethics Packet – 2018. In this packet, you will find:
- A letter from Association CEO, Deb Frazier
- “Before You File an Ethics Complaint” from National Association of REALTORS®
- Form #E-1
- Code of Ethics and Standards of Practice of the National Association of Realtors® – Effective January 1, 2018
Along with the completed packet, you will need to include a letter explaining the alleged violation(s), and include any supporting documents and/or photos.
Please note that the Association staff is unable to assist you in determining which Article(s) might have been violated. Please refer to the copy of the Code of Ethics.
April 4, 2018Read more…
By Lisa Johnson Mandell | Sep 15, 2017
“Property Brothers: Buying & Selling” stars Jonathan and Drew Scott are pros at making small homes seem spacious, but in their latest episode they face a daunting challenge: landing a big sale for a minuscule 960-square-foot cottage just outside of Nashville, TN.
In the “Making the Most of Nana’s Gift” episode, the Scotts work with Alex and Sam, who met on a cruise a few years ago. Sam moved 800 miles to be with Alex, and now they and their two rescue dogs need way more room than what’s offered in the country house Alex bought eight years earlier.
As luck would have it, Alex’s grandmother has offered him the gift of money to go toward renovating his old home to selling it, then purchasing something new. Nana will even fly in from Mississippi to view the Scotts’ work! Will she be pleased? You can learn a lot about renovating small spaces from how Jonathan and Drew bend over backward to gain her approval.
Extend the landscaping
“Your curb appeal is terrible,” Jonathan bluntly tells the couple. “The house appears smaller than it needs to. It looks like a tiny little cabin on this massive lot.”
He suggests extending the landscaping with trees, bushes, and flower beds to anchor and extend the look of the house, rather than leaving the grass growing right up to the walls.
“If you extend the landscaping, it will make the house feel more substantial,” he says.
And is he ever right!
Look up for more space
“I can’t give them more square footage, but I can make it feel like there’s more space by raising the roof,” says Jonathan.
Noting there’s space between the ceiling and the gabled roof, he cleverly removes the low ceiling, insulates the inside of the roof, and adds a higher ceiling.
“Sometimes all the space you need to add an impressive feature is already there,” he quips.
Knock down some walls
When he first tours the house, Drew steps into the laundry room/mud room and says, “I’m feeling claustrophobic, and if I’m feeling claustrophobic, buyers are going to feel claustrophobic.”
He suggests removing the wall between the laundry room and kitchen, because a small home doesn’t really need a separate laundry room. He knows Jonathan can create a kitchen cabinet that will hide a stackable washer and dryer, which is a more practical use of the space.
Carve out a dining area
Most small homes don’t have a formal dining room, but this home is so tiny there’s not even room for a dining table. Jonathan’s solution? Build a nice island with an apron sink, plenty of storage space, and a dining ledge. This kills three birds with one stone, and looks fantastic!
Get rid of dated wrought-iron posts
The ornate, black wrought-iron posts that were so popular toward the middle of the past century now just make a house seem dark, cramped, and dated. Jonathan removes the ones on the front porch and carport, replacing them with solid wood pillars that look far more elegant, yet stay true to the country vibe.
Beware of pressure washing
The house isn’t only small, it also looks a little rough around the edges. The reason: The previous owners had cleaned the house with a pressure washer, which left left spray marks on the siding. Apparently, pressure washing can damage surfaces, so watch out!
Let the pros deal with asbestos
As Jonathan and Alex remove three layers of dated vinyl flooring and play Guess That Decade, here’s what they find underneath: asbestos.
“Don’t touch that,” Jonathan cautions when it’s first uncovered. They both slowly back away, and call in the pros to find and remove asbestos throughout the house. It costs them $1,500, which is money well-spent to remove the health dangers of asbestos.
How’d the house hunt go?
Before the renovations, Drew had guessed the house wouldn’t sell for much more than $160,000. But with all the improvements, the house fetches $255,000!
Combined with Nana’s gift money, Alex and Sam have a $300,000 budget to buy a new home—and Drew finds them a gorgeous 2,500-square-foot turnkey home with three bedrooms and two baths. Bonus: It’s closer to where they both work and down the street from their friends.
But will Nana be pleased with the way they’ve spent her gift on both the old house and the new?
After she flies in to survey the results, it’s clear that the grandmother is pleased. Which is good, because Alex is very important to her.
“I gave him his first bottle,” she says.
And if Nana’s happy, everyone is happy.
September 18, 2017Read more…
If you’re entering the real estate market for the first time, you may find real estate professionals’ various titles a little confusing. Sometimes consumers use these titles interchangeably, but there are some important differences between the roles of the various professionals, as well as different requirements for using particular titles.
Titles for real estate professionals
The real estate profession is regulated by state governments, which have different requirements for earning a license. In general, though, the titles you may come across include:
- Real estate agent: Anyone who earns a real estate license can be called a real estate agent, whether that license is as a sales professional, an associate broker or a broker. State requirements vary, but in all states you must take a minimum number of classes and pass a test to earn your license.
- REALTOR®: A real estate agent who is a member of the National Association of REALTORS®, which means that he or she must uphold the standards of the association and its code of ethics.
- Real estate broker: A person who has taken education beyond the agent level as required by state laws and has passed a broker’s license exam. Brokers can work alone or they can hire agents to work for them.
- Real estate salesperson: Another name for a real estate agent.
- Real estate associate broker: Someone who has taken additional education classes and earned a broker’s license but chooses to work under the management of a broker.
Working With a Real Estate Professional
While you are more likely to work directly with a real estate salesperson or an associate broker, some brokers provide services for buyers and sellers themselves. If you have hired a real estate agent to help you buy or sell a home, that agent typically reports to a broker. The broker handles the earnest money deposit and establishes the escrow account.
- Find a REALTOR®
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In addition, the broker bears responsibility for the actions of the real estate agents under his or her supervision. While the majority of real estate transactions go through without any glitches, a broker will step in if there are any problems with your home purchase or sale.
If you are unhappy with your real estate agent and cannot resolve the issues directly, your next step should be to talk with the broker to ask for help and perhaps another agent for you to consult.
Experience and Education
Real estate brokers not only have higher education requirements than real estate salespersons, they also must have experience working as an agent. For example, in Virginia the license requirements are as follows:
- A salesperson must take 60 hours of classes and pass an exam with both state and national sections.
- A broker must take 180 hours of broker-specific classes, pass an exam with both state and national sections, and have actively worked as a real estate salesperson for 36 of the previous 48 months.
When you are looking for a real estate professional, it is wise to work with a member of the National Association of REALTORS® who is committed to maintaining the professionalism of the real estate business. You can choose to work with a salesperson or a broker, but in any case you should take the time to interview your agent and ask for references.
If you want to work with someone new to the profession, you may want to ask to meet the broker as well so you can feel comfortable that someone with experience will be representing your interests. Michele Lerner writes about real estate, personal finance, and business news. She is the author of two books about home buying.Follow @mvlerner
August 10, 2017Read more…
CHICAGO – Secretary Bryan A. Schneider of the Illinois Department of Financial and Professional Regulation (IDFPR) is pleased to announce that paperless licensing and renewals have now been implemented for the professions licensed and regulated by the Divisions of Real Estate and Professional Regulation. The transition away from paper-based renewals and licenses means that regulated professionals will now be able to renew their license quickly and easily online and be provided proof of licensure through email and IDFPR’s License Lookup application. The move to paperless technology is part of the Department’s ongoing efforts to modernize the state’s regulatory agency and will save the state nearly $3 million in postage, paper and printing costs over the next five years.
“By enacting a paperless renewal process and shifting to an electronic verification of licensure, we increase efficiency, reduce costs, and provide an overall better experience for our licensed professionals,” said Bryan A. Schneider, IDFPR Secretary. “Whereas paper-based renewals intermittently experienced delays during peak renewal periods, the online license renewal streamlines that process by eliminating the need to, essentially, push paper. Additionally, by providing electronic verification of a license through our website, we are able to provide the most up-to-date information available.”
Effective immediately, submission of renewals for professionals should be completed online via IDFPR’s website. Once a renewal is successfully processed, licensees will receive an email that may be used as proof of licensure. Proof of licensure may also be found via IDFPR’s License Lookup. In the near future, licensees will be provided access to a digital, printable copy of their license.
In lieu of the paper postcard reminder, IDFPR has also implemented an electronic license reminder notification process for all professions that are not legally required to receive paper notifications. Licensees that had relied upon the renewal postcard PIN notification for renewing their licenses or for employee E-Batch renewal, may access that information via the license renewal webpage located at IDFPR’s website. Licensees will be prompted to provide additional information for security authentication.
Licensees are strongly encouraged to visit IDFPR’s online address change webpage to provide a current email address and ensure contact information is up-to-date and accurate.
February 26, 2016Read more…