What Exactly is a Mississippi Realtor and What Does a Realtor Do?
A realtor works as a real estate professional and is a member of the National Association of Realtors (NAR). This professional organization is federally registered and membership requires that the individual promises to abide by its code of professional and ethical standards. In order for someone to call themselves a realtor in Mississippi, they must join the local chapter of the NAR. The use of the term realtor is regulated by the NAR and if a someone is not a member or not in good standing, they are not allowed to call themselves a realtor.
What Does a Realtor Do?
A Mississippi realtor helps people either buy or sell a property. A listing agent helps to sell a property and a buyer’s agent helps the client purchase a property. Realtors know the local laws applicable to buying and selling property. They help to price properties and give advice for improvements before selling, and also help clients find potential properties to tour. Realtors also understand how to negotiate and how to fill out and submit all applicable paperwork.
What are the Differences Between Realtors and Real Estate Agents?
Realtors and real estate agents complete similar jobs, but are held to different standards. As described above, realtors must be a member of the NAR and are required to abide by its code of standards. Both realtors and real estate agents must obtain a license, which requires coursework and passing a state examination. This license will need to be renewed every two years in Mississippi with 16 hours of continuing education.
What are the Pros and Cons of Hiring a Realtor?
As with any decision, there are pros and cons to consider when deciding if you will work with a realtor. Here is a look at a few:
- Saves time
- Get access to exclusive active listings
- Paperwork is taken care of
- Sense of security, knowing you are working with a professional
- Home searches can be tailored to your wish list
- High cost involved
- Might focus on agency’s listings
- Could be conflicts of interest
- Possibility of not understanding paperwork