By Mark & Annmarie Lenson
People Like Us....People Trust Us
Put Our Experience On Your Side....We Sold Almost 800 Homes

The REALTOR®’S Critical Role In The Real Estate Transaction

Why Was This List Prepared?
Surveys show that many homeowners and homebuyers are not aware of the true value they receive in the services a REALTOR® provides during the course of a real estate transaction. At the same time, regrettably, REALTORS® have generally assumed that the expertise, professional knowledge and just plain hard work that go into bringing about a successful transaction were understood and appreciated. Many of the most important services and steps are performed “behind the scenes” by either the REALTOR® or the brokerage staff and have been traditionally viewed simply as part of their professional responsibilities to their client. But, without them, the transaction could be placed in jeopardy. This publication seeks to close that gap. Listed on the following pages are nearly 200 typical actions, research steps, processes and review stages necessary for a successful residential real estate transaction and are normally provided by a full service real estate brokerage and for which they are entitled to fair compensation.

Completeness of the List
The list is by no means an attempt to set forth a complete list of services, as these may vary within each brokerage and each market. Many REALTORS® routinely provide a wide variety of additional services that are as varied as the nature of each transaction. By the same token, some transactions may not require some of the steps to be successful. However, most would agree that given the unexpected complications that can arise, it’s far better to know about a step and make an intelligent, informed decision that it is not needed than to not know the possibility even existed.

The REALTOR® Commitment
Through it all, the REALTOR®’S personal and professional commitment is to ensure that a seller and buyer are brought together in an agreement that provides each of them a “win” that is fair and equitable. Their motivation is easy to understand. For most full-service brokerages, there is no compensation unless and until the sale closes. By contrast, there are firms that offer “limited-services” in exchange for either an upfront flat fee or perhaps offer a menu of pay-as-you-go or “a la’ carte” services. Some even offer a sliding scale from limited to full service. In these cases, the REALTOR®’S compensation is based on the level of service they provide. In short, it’s the age-old market adage that “you get what you pay for.”

A Variety of Choices
It can truly be said the variety of brokerage business models in today’s real estate industry affords the homeowner a greater range of options than ever before. But, no matter which option homeowners choose, before signing a Listing Agreement or otherwise engaging the services of a REALTOR® and agreeing to compensate them, they should understand exactly what specific services will, or will not, be prov