Frequently Asked Questions
Q. How can I find out what my property is worth?
A: Your Broker Connection will provide a complete market analysis for you -- free of charge. Using our industry tools and professional expertise, we will give you a comprehensive report of comparable property values in your area. We are not qualified to give you an appraisal of value, but we can provide information to support a listing price if you wish to sell.
Q: How much will it cost me to sell my property?
A: There is no set or regulated commission percentage for real estate companies in Arizona. Factors that may impact the commission percentage are:
--- How quickly you wish to sell your property. The agent will have to develop and deploy aggressive marketing plan, which may include costly advertising.
--- The location of your property. If the property is located in a high end market, the marketing costs will be significantly higher and the real estate agent may require more funding to attract qualified buyers.
--- The services your real estate agent providing. If the agent is merely putting a sign in your yard and not doing any marketing or advertising, the commission percentage may be lower.
Q: If I am buying a home, what do I have to pay a real estate agent to represent me?
A: The Seller of the property, not the Buyer, typically pays the commission. The commission percentage will be shared by the Seller's and Buyer's agents. Your costs, as a Buyer, (called "closing costs") are paid at the close of escrow and include (but are not limited to) title insurance, escrow fees, loan costs, taxes, and insurance. Your real estate agent can provide you with an estimated cost sheet when you make an offer on a property.
Q: If I want to view a property that is for sale, should I contact the real estate agent whose name is on the "For Sale" sign?
A: An Arizona-licensed real estate agent can show you any property that is on the market in Arizona. The agent whose name is on the sign has a contractual relationship with the Seller. If you would like that agent to represent you as well, you may contact that agent. You may want to have a contract with an agent who represents only you. The agent you choose to represent you is strictly your decision.
Q: What is the difference between a real estate agent and a REALTOR®?
A: A real estate salesperson must pass required exams to be licensed by the Arizona Board of Real Estate. (http://www.re.state.az.us/) A REALTOR® is a licensed agent who is also a member of the National Association of REALTORS®. REALTORS® add value to the real estate transaction through their expertise, professionalism, and know-how. Buying or selling a home involves many decisions; choosing a REALTOR® to protect their interests is the best one consumers can make. You can access the REALTOR® Code of Ethics by clicking on this link: http://www.realtor.org/mempolweb.nsf/pages/code
Q: Do I have to be a real estate agent to look at the property listing database?
A: The database used by most real estate agents is called the Multiple Listing Service or "MLS". Anyone can access the MLS to find all properties listed by licensed agents in the area. Your Broker Connection and our agents are all members of the MLS. To access this resource, click on the following link: http://www.tarmls.com/
Q: Can’t I just sell my own property and save the costs of using a REALTOR®?
A: You can sell your own property but you should be aware of the many advantages to working with a REALTOR®.