Video for Sellers
Video for Buyers
What the Code of Ethics Means for Home Buyers and Sellers
Honesty. Integrity. Commitment. As a homebuyer or seller, that's what
the REALTOR® Code of Ethics means to you.
The Code of Ethics is a promise—as a customer of a REALTOR®, you can expect honest and ethical treatment in all transaction-related matters. It is mandatory for REALTORS® to take the Code of Ethics orientation and they are also required to complete a refresher course every three years. Learn more.
7 Reasons to Work With a REALTOR®
REALTORS® aren’t just agents. They’re professional members of the National Association of REALTORS® and subscribe to its strict code of ethics. This is the REALTOR® difference for home buyers:
An expert guide. Selling a home usually requires dozens of forms, reports, disclosures, and other technical documents. A knowledgeable expert will help you prepare the best deal, and avoid delays or costly mistakes. Also, there’s a lot of jargon involved, so you want to work with a professional who can speak the language.
Objective information and opinions. REALTORS® can provide local information on utilities, zoning, schools, and more. They also have objective information about each property. REALTORs® can use that data to help you determine if the property has what you need.
Property marketing power. Property doesn’t sell due to advertising alone. A large share of real estate sales comes as the result of a practitioner’s contacts with previous clients, friends, and family. When a property is marketed by a REALTOR®, you do not have to allow strangers into your home. Your REALTOR® will generally prescreen and accompany qualified prospects through your property.
Negotiation knowledge. There are many factors up for discussion in a deal. A REALTOR® will look at every angle from your perspective, including crafting a purchase agreement that allows you the flexibility you need to take that next step.
Up-to-date experience. Most people sell only a few homes in a lifetime, usually with quite a few years in between each sale. Even if you’ve done it before, laws and regulations change. REALTORS® handle hundreds of transactions over the course of their career.
Your rock during emotional moments. A home is so much more than four walls and a roof. And for most people, property represents the biggest purchase they’ll ever make. Having a concerned, but objective, third party helps you stay focused on the issues most important to you.
Ethical treatment. Every REALTOR® must adhere to a strict code of ethics, which is based on professionalism and protection of the public. As a REALTOR®’s client, you can expect honest and ethical treatment in all transaction-related matters.
Source: REALTOR® Magazine
Find a property listed for sale by our REALTORS®
The Silver City Regional Association of REALTORS® does not compete with its members and therefore does not maintain a public property search tool. Our listing data is shared with these three sites:
Type in Silver City, NM or if you would like to expand your search area to the outlying communities click on the advanced search option.
All properties in SCRMLS are in the these database unless the seller opts out.
Beware of Real Estate Scams
Phishing scams can be hard to recognize because criminals build their phony sites to look like real sites. About two years ago, Google did a study that showed phishing scams continue to work about 45 percent of the time.
According to experts, phishing attacks worldwide are happening more often than ever and hackers continue to go where the money is. When hackers pose as agents or title companies, their target is someone’s down payment on a house. If the buyer takes the bait, their bank account can be wiped out within minutes!
Two recent scams go like this:
In this case, criminals hacked the other agent’s account and sent a request to wire funds. The scammer even diverted the client’s responses from the broker’s inbox! The client wired upwards of $20,000 overseas right into the criminal’s hands. Always call your Broker to verify wiring instructions. Read more.
In this case, criminals used the listing photo and information from an agent's website to create a fake rental ad on Craig's List. They asked potentail renters to sent them a security deposit via Western Union. Always do your due diligence and make sure the person you are contacting is who they say they are. Read more.
The Problem with FSBO's (for sale by owner)
Owners have many options for selling when they decide they’d like to move on from their current home, but fewer are looking to do it alone. According to the National Association of REALTORS® 2020 Profile of Home Buyers and Sellers, only 8 percent of home sales last year were those in which the seller went through the process without an agent - known as for-sale-by-owner sales or FSBOs.
The median age for FSBO sellers is 57 years. 64% of FSBO sales were by married couples that have a median household income of $96,700.
FSBOs typically sell for less than the selling price of other homes; FSBO homes sold at a median of $217,900 last year (up from last year), and signiﬁcantly lower than the median of agent-assisted homes at $242,300.
FSBO homes sold more quickly on the market than agent-assisted homes. 77% of FSBO homes sold in less than two weeks—often because homes were sold to someone the seller knows
Multiple Listing Service
The Multiple Listing Service (MLS) is a service of the Silver City Regional Association of REALTORS® and is open to all members of an Association. Simply put, the MLS is a computerized network of participating real estate offices. Through the computer system information on properties for sale is quickly disseminated to more than 65 cooperating REALTORS®. This powerful combination strengthens the marketing possibilities for sellers and enables REALTORS® to better satisfy the housing needs of sellers and buyers.
The MLS and its participants recognize the existence of national, state and local laws concerning discrimination in housing. Discrimination in the sale, rental or leasing of housing in New Mexico based on race, religion, color, national origin, ancestry, sex, disability or families with children is illegal. We, as REALTORS® and participants in the MLS, abide by the letter and spirit of the law.
When you, as a seller, sign an exclusive listing agreement with a REALTOR®, you are also giving your permission to have your property entered in the MLS, subject to its rules and regulations.
The main benefit to you, the seller, is the increase in exposure your property will receive through the MLS. To insure that both the general public and the agents are treated fairly, rules and regulations have been established so the information gathered through the MLS is as correct and accurate as possible.
UNDERSTANDING THE LISTING AGREEMENT
In an exclusive right to sell contract, one broker is appointed as the sole agent of the seller and is given the exclusive right to sell the property with an additional authority and obligation on his/her part to distribute the listing to other cooperating brokers in the MLS. The advantage to a seller under this form of listing agreement is that all the members of the MLS are offering your property to prospective buyers.
The importance of accurate information cannot be overstated. Submitting inaccurate information to the MLS can have ethical and legal consequences for both you and your Broker. Prospective buyers rely on this data in making their decision to view and/or purchase your property.
AFTER THE LISTING IS SIGNED
When your property is listed for sale it will go through three phases of processing:
In the first phase, your sales agent either enters the required information in the MLS computer software. This must be done within 2 working days of the time you sign a listing agreement in order to make certain your property is exposed to the market as quickly as possible. Your property will be entered into the computer database as a new listings and will remain active until your REALTOR® changes its status or it expires. This provides two very effective methods of marketing your property.
YOUR LISTING WILL BE PUBLISHED AND MARKETED
Once the information about your property has been entered into the MLS database, the information is instantly accessible to all the REALTORS® who have access to the computer system. This information will remain in the computer system as an active listing until your REALTOR® changes it status, its sold or it expires.
When the listing is entered into the computer database your agent will add one or several photos. You should try to make your property as presentable as possible for these photos. Close garage doors, move garbage cans, cut the weeds, bring your dog inside, make sure your car isn't blocking the view of your property from the street, and so on. The better your property appears in the photos, the more appealing it will look to the prospective buyers who may decide whether or not to come and see it based on the photos in the computer.
These two marketing methods provide the maximum exposure of your property to other Realtors® who will try to help your REALTOR® sell your property.
Your property enters the second phase when it goes off the market. Once you have signed a sales contract and do not wish to entertain secondary offers, the status of your property is changed to "under contract."
Should it be necessary to take your property off the market, it will go into a "withdrawn" status. The information about your property is still in the computer system, but the status will have been changed to indicate it is no longer available for sale.
The final phase takes place when the transaction actually closes and the property is "sold". Your REALTOR® will change the status of your property in the MLS to sold within 2 days of the closing. The information about your property will remain in the MLS as a sold listing.
The importance of this information cannot be over-emphasized. The reason is simple: You, the seller, have probably relied on this type of information in determining your own listing price to sell your property as quickly as possible. Other sellers and appraisers also rely on these comparable sales to determine asking prices and market values.
YOUR LISTING WILL BE ONLINE
All the residential listings in the MLS are also uploaded daily to REALTOR.COM and to websites where the Broker and Agent participate in the IDX program offered by the MLS. These listings are on the internet to be viewed by the public unless you note on the listing agreement that you do not want your property marketed on any websites.
PLEASE COOPERATE WITH YOUR REALTOR®
For these reasons, we ask that you cooperate fully with your agent in giving all information required at the time your property is listed for sale.
MAKE ALL CHANGES IN WRITING
If you extend the listings, or make any other changes during the listing period concerning your property, be sure they are made in writing and sent to your REALTOR®. This will help protect you and your REALTOR® avoid confusion or any misunderstanding.
SCRMLS Data and Statistics
Silver City Regional MLS
Housing availability in Grant County as of October 2020. There are 113 site-built homes listed with a median asking price of $265,500, with an average of 211 days-on-the-market. There are 2 single-wide homes listed with a median asking price of $98,000, and 117 dom. There are 10 multi-wide homes listed with a median asking price of $135,500, and 191 dom. 1 modular, median asking $297,000 and 4 dom. 1 condo, median asking $139,000, 63 dom.
Land availability in Grant County as of October 2020. There are 103 single-family lots for sale with a median asking price of $29,500, and 669 days-on-the-market. There are 83 restricted rural lots, median asking $100,000, 1099 dom. 60 unrestricted rural lots, median asking $63,625, 872 dom. 11 commercial/industrial, median asking $115,000, 835 dom.
(Via SCRMLS stats)
Silver City Regional MLS Firm Rankings
Monthly news releases from the New Mexico Association of REALTORS® about the housing market in New Mexico. It often includes median prices and changes from the previous year. Housing Trend Reports for New Mexico (NMAR)
The NATIONAL ASSOCIATION OF REALTORS® Existing-Home Sales Series is the premier measurement of the residential real estate market. On or about the 25th of each month, NAR releases statistics on sales and prices of existing single-family homes for the nation and the four regions. These figures include condos and co-ops, in addition to single-family homes. Updated each month, these reports are available free of charge in two formats — PDF for easy viewing and printing and Excel for database work. more info (NAR)
**Most reports are Adobe PDF documents. If you do not have the reader it can be downloaded here.
www.newmexicohomesearch.com - Find local listings from SCRMLS as well as listings across New Mexico. The New Mexico Home Search App can be downloaded in your device appstore or here - Apple or Android
Homesnap Pro - Our MLS members use the Homesnap app to stay on top of new listings and for client communications. Download the mobile App today.
ShowingTime Pro - Our MLS members use this program for Showing Management and MarketStats.
www.homeownershipmatters.com - Homeownership Matters provides an ideal platform for current and prospective homeowners to have their voice heard at the local, state and national levels of government on core tax and property issues. With proposed policy changes happening in communities across the country, it is more important than ever to stand-up for homeowner rights.
www.houselogic.com - HouseLogic is a free source of information and tools—from the NATIONAL ASSOCIATION OF REALTORS®—that can help you make smart and timely decisions about your home. With content covering home improvement, maintenance, taxes, finance, insurance, and even ways you can get involved in and enrich your community, HouseLogic can help you increase and protect the value of your home by helping you make confident decisions.
www.consumerfinance.gov/owning-a-home - Free lending and closing resource. Explore interest rates, monthly payment worksheet, understand loan options, explore loan choices, compare loan officers, closing checklist, closing disclosure, and much more.
www.realtor.com - Find homes in Silver City at realtor.com.
www.nmrealtor.com - New Mexico REALTOR® consumer resources.
www.realtor.org - NAR, home buyers and sellers, from educating consumers about the housing market to supporting private property rights, NAR enables more Americans to achieve and protect the dream of homeownership.
www.freddiemac.com - Every day we help millions of families in neighborhoods across America buy their own homes or enjoy quality and affordable rental housing.
www.ginniemae.gov - Homeownership guide and calculators.
www.fanniemae.com - Welcome to Fannie Mae's For Home Buyers & Homeowners section. This section offers content, tools, and resources -- all in one convenient portal.
www.hud.gov - US Dept of Housing and Urban Development.
Lead Hazard Website - HUD, Welcome to the Office of Healthy Homes and Lead Hazard Control's Community Information and Outreach site.
www.nahb.com - National Association of Home Builders
www.ashi.org - American Society of Home Inspectors
www.benefits.va.gov - U.S. Department of Veteran Affairs, Home Loan Guaranty Service.
www.rurdev.usda.gov USDA Rural Development, Rural Housing Service.
www.fairhousing.com - National Fair Housing Advocate
USDA Forest Service - USDA Forest Service, Lands and realty management website.
www.ruralhome.org - Housing Assistance Council, The mission of the Housing Assistance Council is to improve housing conditions for the rural poor.
www.designadvisor.org - Affordable Housing Design, a tool, resource, idea bank and step-by step guide to Design in affordable housing.
www.enterprisecommunity.org - Enterprise helps build affordable housing for low-income Americans by providing financing and expertise to community and housing developers.
www.nlihc.org - National Low Income Housing Coalition
www.aanm.org - Apartment Association of New Mexico - property management, landlord and rental information.
www. lawaccess.gov - Landlord or Tenant with questions can contact Law Access of New Mexico at (505) 998-4529.
www.epa.gov - U.S. Environmental Protection Agency
www.fema.gov - Federal Emergency Management Agency
NM Sex Offender Information (Megan's Law)
New Mexico State Links - Links to New Mexico state agencies A to Z.
www.usa.gov - Your first click to the U.S. Government
www.blm.gov - Bureau of Land Management, New Mexico, OK, TX and Kansas.
www.publicschoolreview - Profiles of USA Public Schools.