Working with a REALTOR®
What Is a REALTOR?
Every state has its own laws governing real estate licensing; there is no national license. In Kentucky, agents are required to successfully complete 96 hours of instruction at an accredited school and to pass a licensing exam. They must work a minimum of 20 hours a week as a sales agent for 2 years before they can take classes to obtain a broker license. In addition, any agent who identifies him- or herself as a REALTOR® has affiliated with the National Association of REALTORS® and their local board of REALTORS® and has pledged to adhere to their code of ethics and professional standards. All associate brokers with F. C. Tucker Emge are REALTORS®.
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 agent's broker receives a portion of the commission, and the buying agent's broker receives the other part. Each agent's broker then pays him/her a portion of the commission.
Why Should You Work With a F. C. Tucker Emge REALTOR® When You Buy?
F.C. Tucker Emge and F.C. Tucker Collier REALTORS® 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™ with Tucker.
- More knowledge - Tucker offers weekly training sessions for agents providing opportunities to learn about the advancements in real estate technology and ongoing trends within the real estate market.
- More professionalism - In addition to the superior training they receive, all F.C. Tucker Emge and F.C. Tucker Collier agents dedicate themselves to providing a superior customer experience and offering clear and continuous communication throughout your real estate transaction.
- More offices - We have 10 offices throughout the Southwestern Indiana area.
- More support - We have more support staff which frees our agents to serve you more efficiently.
- More access to support businesses:
- Our title company, Regional Title Services, LLC, is headquartered in our Eagle Crest Office Building. Regional Title Services is a full-service title company you can trust, offering expertise Real Estate services in: title insurance, document preparation, title reports, insured closings and escrow services, notary services, and witness closings.
- We offer home warranties through 2-10 Home Warranties. These warranties cover problems not protected by your homeowner's insurance policy. A 2-10 Home Warranty protects you and your family against financial setbacks due to costly repair or replacement of covered appliances and major systems. The 2-10 Home Warranty protects the seller during the listing period and the buyer for a full year, beginning the day of closing.
- F.C. Tucker Emge and F.C. Tucker Collier REALTORS® brings a full service Property Management Division to the Tri-State Area. Our division offers customer service to the Landlord/Investor and property tenant.
- A full time Commercial Department was established in 1992 and the company quickly became the area’s leader in commercial sales and leasing. In 2010, F.C. Tucker Commercial signed a strategic alliance agreement with Cassidy Turley, one of the nation’s leading commercial real estate service providers with 58 locations.
- F.C. Tucker Emge and F.C. Tucker Collier Auctions can be the easiest and fastest way of obtaining cash for your property. The auction stimulates the market through an intense and condensed marketing campaign putting not only local, but regional and/or national attention on your property thus, widening the buyer pool.
How Do You Find a REALTOR®?
You'll want to keep several things in mind as you select a real estate agent. Remember that during your search you may spend a significant amount of time with this agent, so he/she should be someone you can enjoy. You will be seeking your agent's advice on one of the most important decisions you will make, so he/she should be someone you can respect. In the course of your search, you may need to share intimate details of your finances, so your agent should be someone you can trust. In addition, you'll want an agent who will know when to share his/her opinion straightforwardly and when to listen to your opinions.
A good candidate...
- Is familiar with the area of town you're interested in
- Is available at times that are convenient for you
- Can assess your personal compatibility
- Asks questions about what you want and need in a home
- Is a good listener
- Has respect for you and your preferences
- Follows up with answers to questions he/she did not initially know
- Returns calls promptly