Meet Henrietta, the talking house. Henrietta is here to answer all of your questions about home ownership. If you have a question for Henrietta, click here to submit your question.
Dear Henrietta House,
My wife and I are considering selling our home and buying a smaller one in the neighborhood. I am a Do It Yourself kind of guy and it seems to me that we can save quite a bit of money if we do not use a Real Estate Broker / REALTOR® in these transactions, after all, how hard can it be? I can get signs at the hardware store and the newspaper ads are easy to do as well. My wife feels that we are not educated in the real estate market and should leave the sale of our home to a professional REALTOR®. Can you tell me what if any education is required to become a REALTOR®?
Sincerely,
DIY Dan
Dear DIY Dan,
I applaud your enthusiasm in wanting to sell your own home but I agree with your wife that you should hire a Licensed Salesperson or REALTOR® to get your home SOLD! Licensed Salespersons and REALTORS® are trained to handle the complexities involved in real estate transactions. It takes education and experience to become capable of being able to see a real estate transaction through to closing.
To qualify for issuance of a salesperson license, an applicant must be 18 years of age, be of good character and reputation, and successfully complete a 60 hour approved course in real estate. The applicant must than pass the required National and State real estate exams and obtain written commitment from a licensed real estate broker to accept you as a sales person of the firm when all requirements have been satisfied. To become a REALTOR® you and your broker must be members of the National Association of REALTORS® as well as State and Local Associations.
Once you have a salespersons license you are required to maintain continuing education every two years as follows; 15 hours including 3 hours legislative, 1.5 hours fair housing and 3 hours in ethics. Most licensees also strive to earn non-required real estate designations such as ABR “Accredited Buyers Representative”, CRS “Council Residential Specialists”, GRI “Graduate Realtor Institute” to make them more aware and give them an edge in today’s marketplace.
Most Licensed Salespersons and REALTORS® dedicate considerable time and financial resources to complete the education that is mandatory and necessary to achieve successful transactions. You want your profession to have all the tools available to get your home sold in the shortest amount of time at the highest obtainable sales price in your marketplace.
I hope this information leads you in the right direction. Remember: it is always wise to use a professional so contact a local Licensed Salesperson or REALTOR® to help guide you through the entire process.
Sincerely,
Henrietta House
Ask Henrietta! Send your question via e-mail to info@coastalrealtors.org
Information deemed reliable and accurate and for education purposes only and is not considered legal or financial advice.
For more information go to http://www.dllr.state.md.us
