How The California Association of REALTORS® Can Help You Know The Market
Whether you are a first-time homebuyer or a seasoned real estate developer with multiple estates in the state of California, maintaining an excellent relationship with the California Association of REALTORS® serves a number of benefits that should not be understated.
The main mission statement of the California Association of REALTORS® is to provide services and programs that enhance their members’ ability to conduct real estate business with integrity and competency, and this can help you immensely.
What A Homebuyer Should Know
If you are in the market for your first home, there is a great deal of helpful information that the California Association of REALTORS® can provide you. This includes market analysis, forecasts involving the real estate market of which you are a part, and indicators about the best locations, times and companies to work with.
Although even a simple 10-minute glance on their webpage is extremely informative, most of the truly critical data is only available to members. Having a REALTOR® on your side that is licensed through the California Association of REALTORS® gives you, by proxy, access to this data through the representative in question.
The Housing Affordability Index
One of the more useful tools that the California Association of REALTORS® makes available to the general public is their housing affordability index. This index represents the number of households reported to 100 that may afford buying a home in the state. There are two kinds of affordability indexes available:
- The Traditional Housing Affordability Index, and
- The Housing Affordability Index For First-Time Buyers
Each of these responds to different criteria and can help any prospective homebuyer get an idea of their place within the wider market. That scope is crucial to knowing whether you are getting a good deal on your future home or not. The data can be highly influential in the decision of whether to rent or buy and in what capacity your budget may allow you to do so.
Working With A REALTOR®
As mentioned above, only active, licensed members of the association have access to the most pertinent information- which is just as well, because they also have the scope and tools necessary to make sense of the market data. This makes it important, when planning on buying or selling a home in California, to work with a member of the association.
REALTORS® who operate within the structure of the association can be trusted to uphold similar values and to respond to homebuyers and sellers with a high standard of professionalism. The real estate industry is a highly regulated one, and, despite this, it is full of unconventional approaches and activities that may or may not serve your needs.
Knowing that you are dealing with an individual who is part of a larger membership community such as the California Association of REALTORS® can help you get the best and most fair deal on your real estate purchase, while eliminating undesired risks in the process.