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Working
with a REALTOR®
Feel free to
either read straight through this selection, or click to jump to any of
the following sections:
What
Is a REALTOR®?
Who
Do REALTORS® Represent?
How
Are REALTORS® Paid?
Why
Should You Work With a REALTOR® When You Buy?
Why
Should You Work With an F. C. Tucker REALTOR® When You Buy?
What
Is a REALTOR®?
Every state
has its own laws governing real estate licensing; there is no national
license. In Indiana, agents are required to successfully complete 54 hours
of instruction at an accredited school and to pass a licensing exam. They
must also complete 16 credits of continuing education every two years
in order to maintain their licenses. In addition, any agent who identifies
him- or herself as a REALTOR® has affiliated with the National Association
of REALTORS® and has pledged to adhere to their code of ethics and
professional standards. All sales associates with the F. C. Tucker Company
are REALTORS®.
With two years
of selling experience, agents may return to school, pass another class
and exam, and become licensed as real estate brokers. At this point they
can go into business for themselves if they choose.
Real estate
agents must affiliate with a broker before they can conduct real estate
transactions. They operate on behalf of the broker, and he/she is legally
responsible for their professional conduct. Any listings an agent has
legally belong to the broker.
Who
Do REALTORS® Represent?
The answer
to this question used to be somewhat complex, but in recent years, the
laws have been simplified. Now, agents working with a buyer represent
the interests of the buyer and those working with a seller represent the
interests of the seller. In practical terms, this means that whether you
are a buyer or seller, your agent is now required to
- Exercise
reasonable skill and care in performing their duties
- Deal with
you as a client honestly and fairly
- Disclose
all facts which are known to the agent (or may be reasonably discovered)
that affect the value or desirability of any property you are considering.
- The only
exception to this law is when a buyer wants to buy a home listed by
his/her own agent-or by an agent affiliated with the same broker (since
the listings legally belong to the broker). In this situation, the agent
becomes a "limited agent," representing the interests of both
parties. This limited agency must be disclosed, and both the buyer and
the seller must give their consent in writing for the transaction to
move forward.
How
Are REALTORS® Paid?
Real estate
agents are paid on commission, generally a percentage of the selling price
of the home. The commission for a particular transaction is established
in the listing agreement between the seller and his/her agent.
The commission
is paid at closing. The selling agents broker receives a portion
of the commission, and the buying agents broker receives the other
part. Each agents broker then pays him/her a portion of the commission.
Why
Should You Work With a REALTOR® When You Buy?
There are many
compelling reasons to use a real estate agent when you buy a home:
- They have
access to the Multiple Listing Service (MLS) which allows them to search
for available homes that meet your criteria.
- They will
handle the administrative details of scheduling showings for the homes
you would like to see.
- They save
you time by providing you with information about schools, neighborhoods,
etc.
- When you
find a home you think you might be interested in, they can use the MLS
to find out the list prices of other homes for sale in the area as well
as the sales prices of those that have recently sold. This can help
you determine the fair market value of the home before you make an offer.
- They will
guide you through the maze of offers and counteroffers, inspections
and amendments-always looking out for your best interests. Their advice
and insight in these areas can help you avoid potential pitfalls and
may save you from costly errors. Your agent will know, for example,
which items in the home need to be included in the purchase agreement;
some items can be assumed to stay with the house while others must be
specifically stipulated. If the inspection uncovers problems, your agent
will help you negotiate changes with the seller. Most real estate agents
will not tell you what to do, but their training, previous experiences,
and professional contacts can help you make better, more informed decisions.
- They can
help you find a reputable mortgage company.
- They will
explain the closing process and all of the paperwork involved.
Why
Should You Work With an F. C. Tucker REALTOR® When You Buy?
The F. C. Tucker
Company was founded by Fred C. Tucker, Sr., in 1918. His vision and values
were passed to his son, Bud Tucker, and to his grandson, Fred C. Tucker,
III, who leads the company today. The F. C. Tucker Company has been number
one in Indianapolis for more than 25 years and enjoys a 35 percent market
share. In such a competitive industry, that kind of success does not happen
accidentally.
The F. C. Tucker
Company leadership has worked hard to listen to consumers, anticipate
their needs and stay ahead of the trends. For this reason, you, as a consumer,
really do Get More(TM) with Tucker.
- More knowledge
- Tucker has its own full-time training department which provides pre-service
and in-service training to our agents. We have a state-of-the-art computer
lab where agents can stay on top of technological advances; instructors
teach courses ranging from basic word processing to using email, Palm
Pilots, and Top Producer (a program designed specifically for real estate
agents).
- More professionalism
- In addition to the superior training they receive, all F. C. Tucker
agents devote themselves to real estate full time. Your agent wont
be waiting tables when you want to see a home.
- More offices
- We have 14 offices throughout the Indianapolis area, and unlike our
"individually owned and operated" competitors, our offices
all work together. Wherever you are in the city, youll have convenient
access to F. C. Tucker Company resources.
- More hours
- Our offices are open seven days a week (except holidays) and into
the evening on weekdays, making them more accessible when you need them.
- More support
- We have more support staff which frees our agents to serve you more
efficiently.
- More access
to support businesses
- Each
F. C. Tucker office hosts a mortgage loan officer from Tucker Mortgage.
While you are in no way obligated to use our mortgage company, the
loan officers are easily accessible if you choose to finance your
home through them.
- Our
title company, Title Services, L.L.P., is headquartered in the same
building as the mortgage company.
- We offer
home warranties through HMS Warranties. These warranties cover problems
not protected by your homeowners insurance policy.
- Tuckers
Home-Link will help you move into and maintain your new home: everything
from changing utilities, enrolling your kids in school, finding
a contractor, or purchasing a new refrigerator - all at no cost
to you. Once you enroll in this program, you can use these services
whenever you need them. No other company in the state offers such
premier customer service.
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F.C. Tucker
on "Buying Your First Home" |