Questions About the Real Estate Industry & REALTORS®

What does REALTOR® mean?

• The term “REALTOR®” is a registered collective membership mark that identifies areal estate professional who is a member of the NATIONAL ASSOCIATION OF REALTORS® and subscribes to its strict Code of Ethics.

Who is a REALTOR®?

• A REALTOR® is a state licensed real estate professional member of a local, state and national Association of REALTORS®.  Before a license is issued, standards for education, examinations and experience, determined on a state by state basis has to be fulfilled.  Please note that not all agents are REALTORS®.

Does agent have an active real estate license in good standing?

• To find this information you can check the Colorado Department of Regulatory Agencies

Does agent belong to Multiple Listing Services (MLS) and/or a reliable online home buyer’s search service?

• Multiple Listing Services are cooperative information networks of REALTORS® that provide descriptions of most of the houses for sale in a particular region.
  Questions to ask REALTOR®

Is real estate full-time career? How long REALTOR® has been in the business?

• Some REALTORS® have been in the business for many years and make of the industry a full-time profession. Some have chosen to specialize in certain areas of real estate on a full-time basis while others offer limited services on a part-time basis. There are also REALTORS® that engage in the profession on a part-time basis while maintaining an alternative profession. Select a REALTOR® that best caters to your needs. Make sure you understand the parameters of the relationship and clearly define expectations and goals.

Do you have a reference list? Can I call them?

• References should help you verify your REALTOR®’s credentials.

What is your community involvement?

• REALTORS® live, work, and play in the regions where they sell homes. They are heavily involved in community and philanthropic ventures. REALTORS® work hard to enhance and promote the quality of life of the Pikes Peak region. As such, they are great resources for what is happening throughout the region.

What is your market expertise or specialization?

• REALTORS® enhance their professional standing with continued education. Ask what sectors of the market your REALTOR® specializes in if it helps you in your desired house buying or selling experience.

How big is your support staff? If my agent is sick who takes over?

• REALTORS® are mostly individuals working either for themselves as independent brokers or as individuals in larger real estate brokerages. Some individuals may prefer a larger company while others may prefer a small boutique operation. Identify what your needs are to make of your house buying or selling experience a seamless process.

Which party is he or she representing—you (buyer) or the seller?

• This discussion is supposed to occur early on upon contact with REALTOR®. Ask if REALTOR® is seller’s agent, buyer’s agent or both.

Does agent belong to Multiple Listing Services (MLS) and/or a reliable online home buyer’s search service?

• Multiple Listing Services are cooperative information networks of REALTORS® that provide descriptions of most of the houses for sale in a particular region.

Questions to ask a REALTOR®

Is real estate full-time career? How long REALTOR® has been in the business?

• Some REALTORS® have been in the business for many years and make of the industry a full-time profession. Some have chosen to specialize in certain areas of real estate on a full-time basis while others offer limited services on a part-time basis. There are also REALTORS® that engage in the profession on a part-time basis while maintaining an alternative profession. Select a REALTOR® that best caters to your needs. Make sure you understand the parameters of the relationship and clearly define expectations and goals.

Do you have a reference list? Can I call them?

• References should help you verify your REALTOR®’s credentials.

What is your community involvement?

• REALTORS® live, work, and play in the regions where they sell homes. They are heavily involved in community and philanthropic ventures. REALTORS® work hard to enhance and promote the quality of life of the Pikes Peak region. As such, they are great resources for what is happening throughout the region.

What is your market expertise or specialization?

• REALTORS® enhance their professional standing with continued education. Ask what sectors of the market your REALTOR® specializes in if it helps you in your desired house buying or selling experience.

How big is your support staff? If my agent is sick who takes over?

• REALTORS® are mostly individuals working either for themselves as independent brokers or as individuals in larger real estate brokerages. Some individuals may prefer a larger company while others may prefer a small boutique operation. Identify what your needs are to make of your house buying or selling experience a seamless process.

Which party is he or she representing—you (buyer) or the seller?

• This discussion is supposed to occur early on upon contact with REALTOR®. Ask if REALTOR® is seller’s agent, buyer’s agent or both.

Information provided by Realtor.com