1. Develop an Agency Relationship with a REALTOR
In Maryland a person who is certified by the Real Estate Commission is termed a Real estate licensee. For short the person is called a realtor.
Only those persons who are members of the National Association of REALTORS are allowed to use the designation REALTOR. REALTOR is a registered trademark of the National Association of REALTORS.
Both realtors (licensees) and REALTORS (NAR) are eligible to transact real estate brokerage businesses.
Members of the National Association of REALTORS are held to a higher standard of practice by subscribing to a Code of Ethics and fulfilling regular Ethics reviews upon at least a 4 year cycle.
Real estate licensees in Maryland are required to take 15 hours of continuing education credits every two years.
Maryland law specifically includes these duties of a licensee:
A. The licensee shall remain informed of matters affecting real estate in the community, the State, and the nation, in order to be in a position to advise clients as to the fair market price.
B. The licensee shall protect the public against fraud, misrepresentation, or unethical practices in the real estate field. The licensee shall endeavor to eliminate in the community any practices which could be damaging to the public or to the dignity and integrity of the real estate profession. The licensee shall assist the commission charged with regulating the practices of brokers, associate brokers, and salespersons in this State.
C. The licensee shall make a reasonable effort to ascertain all material facts concerning every property for which the licensee accepts the agency, in order to fulfill the obligation to avoid error, exaggeration, misrepresentation, or concealment of material facts.
D. The licensee, acting as agent, may not discriminate in the sale, rental, leasing, trading, or transferring of property to any person or group of persons because of race, color, creed, religion, national origin, sex, handicap, or familial status.
E. The licensee may not be a party to the naming of a false consideration in any document.
Only those persons who are members of the National Association of REALTORS are allowed to use the designation REALTOR. REALTOR is a registered trademark of the National Association of REALTORS.
Both realtors (licensees) and REALTORS (NAR) are eligible to transact real estate brokerage businesses.
Members of the National Association of REALTORS are held to a higher standard of practice by subscribing to a Code of Ethics and fulfilling regular Ethics reviews upon at least a 4 year cycle.
Real estate licensees in Maryland are required to take 15 hours of continuing education credits every two years.
Maryland law specifically includes these duties of a licensee:
A. The licensee shall remain informed of matters affecting real estate in the community, the State, and the nation, in order to be in a position to advise clients as to the fair market price.
B. The licensee shall protect the public against fraud, misrepresentation, or unethical practices in the real estate field. The licensee shall endeavor to eliminate in the community any practices which could be damaging to the public or to the dignity and integrity of the real estate profession. The licensee shall assist the commission charged with regulating the practices of brokers, associate brokers, and salespersons in this State.
C. The licensee shall make a reasonable effort to ascertain all material facts concerning every property for which the licensee accepts the agency, in order to fulfill the obligation to avoid error, exaggeration, misrepresentation, or concealment of material facts.
D. The licensee, acting as agent, may not discriminate in the sale, rental, leasing, trading, or transferring of property to any person or group of persons because of race, color, creed, religion, national origin, sex, handicap, or familial status.
E. The licensee may not be a party to the naming of a false consideration in any document.
2. Get a Competitive Market Analysis (CMA)
Your Realtor compares the available public information related to your property with that of similar properties that have recently sold in the vicinity. The vicinity being usually within a 6 mile radius and not across city/county lines. This analysis is not an appraisal. It is intended only for the purpose of assisting buyers or sellers or prospective buyers or sellers in deciding the listing, offering, or sale price of the real property.
A licensee must disclose to the client, prospective client, or customer any interest the licensee has in a property included as a comparable in the analysis.
A licensee must disclose to the client, prospective client, or customer any interest the licensee has in a property included as a comparable in the analysis.
3. Price your Home Competitively
Based upon your CMA you should attempt to price your property near the mid point of the range of prices of sold houses in your area unless there are some factors or observations that would require a different opinion.
4. Prepare your Home for Sale
Buyers, today are first seeking to find homes on the internet, this is followed by home visits. The better the home shows, the more likely a buyer would place it on their preferred list.
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