Brigita's Blog: May 2008

Today is the 134th running of the Kentucky Derby.  The Kentucky Derby consists of a field of promising 3 year old horses that have only raced a few races in their career, but have had good starts. 

The Kentucky Derby is the first race of the Triple Crown and is a very tough race.  It is 1 1/4 mile race.  Since the horses have only raced a few races, it is hard to say which horse will be the winner.  Many have raced shorter lengths, so this will be a challenge to all.

The field today will consist of 20 horses, with the favorite starting in the 20th post.  In the history of the Kentucky Derby, only 1 horse has won the Derby from the 20th post position.  

Most of the horses running are colts (young male horses).  The field will have 1 filly (young female horse) running.  Only 3 fillies have won the Kentucky Derby during the course of it's existence.

The trainer of Barbaro, the 2006 Kentucky Derby winner, will also have a horse running this year. 

All in all, it will be an interesting race to watch.  Since the horses are inexperienced, but have had good starts in the handful of races they have run, it will be hard to determine which will be the winner.  Post time will be around 6PM this evening, so let's see who the winner will be. 

Are all real estate agents REALTORS?

No.  Not all real estate agents are REALTORS.  The term REALTOR is a registered trademark.  It identifies a real estate professional who is a member of the NATIONAL ASSOCIATION of REALTORS.  A REALTOR abides by a strict Code of Ethics. 

Why work with a REALTOR? 

Here are some reasons why.

1 - Navigate through a complicated process.  Buying or selling a home requires numerous forms, such as: disclosure forms, inspection reports, mortgage documents, insurance policies, deeds and multipage settlement statements.  A knowledgeable professional will help you prepare the best deal and avoid costly mistakes and delays.

2 - Provide information and opinions.  A REALTOR is able to provide local community information on schools, zoning, area events, etc.  They are knowledgeable about their neighborhood and area of expertise.  A REALTOR also will provide objective information about each property.  An expert will help answer your important questions, such as:
                                      a - "Will the property be suitable for what I want in a home?"
                                      b - "Will the property have a resale value when I am ready to sell?"

3 - Assist in finding the best property on the market.  There are times when the property you are searching for is available but not actively advertised in the market.  The REALTOR will investigate to find all available properties.

4 - Negotiating skills.  Price is not the only negotiating factor.  Negotiation also includes:
                                        - financing
                                        - terms
                                        - date of possession
                                        - inclusion or exclusion of repairs, furnishings or equipment
Also, the purchase agreement should provide a period of time to complete appropriate inspections and     investigations of the property before commiting to complete the purchase.  The agent can advise as to which are recommended or required.

5 - Property marketing power.  Selling real estate is not done by advertising alone.  A large part actually comes as a result of the agent's contacts through previous clients, referrals, friends and family.  When marketing with the help of a REALTOR, the professional will prescreen and accompany qualified prospects through your property. 

6 - Someone who speaks the language.  Any idea what a CMA or a BPO are?  Now you understand why it is important to work with an expert in the industry who knows the real estate language.

7 - Experience. Most people buy and sell only a few homes in a lifetime.  Yes, you may have done it before, but laws and regulations change.  REALTORS handle hundreds of real estate transactions during their career.  Therefore, it is critical to have an expert on your side.

8 - Objective voice.  A home is more than just 4 walls and a roof.  It symbolizes family, rest and security.  This is why homebuying and selling tends to be an emotional experience.  For most people, a home is the largest purchase they will make in their lifetime.  Having a concerned, but objective, 3rd party helps you stay focused on both the emotional and financial issues most important to you. 

I hope this helps you understand why working with a REALTOR is important when it comes to buying and/or selling your home.