In Colorado, when you obtain a real estate license you can sell real estate anywhere in the state and everything from lots and homes to shopping centers. Most agents sell either residential or commercial.
You are not required to take any courses to take the licensing exam although most people do. These courses are designed to give you some basics in real estate so you can pass the exam and also understand what the state requires in terms of handling other people’s money.
In order to renew your license, the state mandates 24 hours of continuing education within three years. The state and National Association of Realtors offer courses to obtain advanced designations for example, GRI, CRS and ABR. Most agents learn to sell real estate by on-the-job training and through in-house training and mentoring programs.
The single largest asset for many people is their home. It makes sense to be thoughtful about who you work with to buy or sell. Just as you wouldn’t hire a plumber to do electrical work or you wouldn’t use a dermatologist to do open heart surgery, you should use a Realtor who understands your market to sell or buy property.
Use a local agent to buy or sell real estate. They are aware of the local market and economy. They would have a better chance of knowing about the nuances in the neighborhood such as covenant restrictions, well or septic issues, and school information as examples.
Even within each town there are subspecialties … mountain property, resort property, lofts, new construction, custom housing or old town/historic homes. An agent with more than 25 years of experience selling mountain properties best illustrated this by telling me he did not understand homes in town and could not do justice selling them. However, for a mountain home or lot, he knows exactly what to point out so a buyer would better understand the value. He also understood the buyers for this type of property and what to say to help them make a decision.
An agent working in a specific market place may know of private sales that aren’t in the multilist system that affect the value of your home. They use this information to assist buyers and appraisers.
They also would be able to do a better job properly pricing your home. Agents unfamiliar with specialized areas may be enthusiastic but may not have the background to properly value the homes’ positive and negative features.
Marketing brochures, fliers and ads prepared by an agent familiar with the market would emphasize the attributes that the buyers for that home would respond to. The agent also would know how and where to best advertise the home for maximum exposure.
Laura Olive, CRS, CRP, ABR, eco-broker, is a broker associate with RE/MAX Alliance. For an archive of previous articles, please go to her Web site at www.lauraolive.com. Write to: 215 West Oak St., Suite 102, Fort Collins, CO 80521; call 970-495-4755; or send e-mail to laura (at) lauraolive (dot) com.
