Q. What is a REALTOR®?
A. The term REALTOR® is the registered collective membership mark of the National Association of REALTORS® and only licensed real estate professionals who belong to NAR and local and state associations can properly call themselves REALTORS®. As REALTORS®, they are bound to a strict REALTOR® code of ethics – the highest standard of professional behavior and a promise to the public to provide honest and ethical treatment in all transaction-related matters.

Q. Why should I use a REALTOR®?
A. REALTORS® are experts on the local housing markets.

A.) Buyers: For most people, a home purchase is one of the biggest investments they will make in their lifetime, REALTORS® have access to the Multiple Listing Service (MLS) which is a shared data system among REALTOR® Associations. They will help you examine your wants and needs in a home, find that ideal property, negotiate the right price for your budget, and help you through all the inspections and steps along the way to ensure you purchase the home that works for you.

B.) Sellers: REALTORS® will discuss your wants and needs out of the sale of your home and market it accordingly. Each REALTOR® has a different way to market your home. You should interview different REALTORS®, to find someone who suites your needs. A REALTOR® will advise you on pricing and market statistics. Once your home has an offer, a REALTOR® will help you negotiate a sale based on your needs. REALTORS® have experience resolving any problems that might occur during from contract to close, they will help you work out any issues in a timely manner.

Q. What is the difference between a real estate salesperson and a broker?
A. A real estate salesperson is licensed to sell real estate in the state of Illinois and is affiliated with a real estate broker. A broker, who has taken additional courses and passed a broker exam, can become a principle member of company that engages in property sales, employ salespeople or become affiliated with another broker.

Q. What are the licensing requirements in Illinois?
A. In Illinois, a real estate salesperson must be at least 21 years old, be a high school graduate or equivalent (G.E.D.), successfully complete the pre-license 45-hour basic transactions real estate education course, pass the state licensing exam and be sponsored by a licensed Illinois broker. To become a licensed broker, they also must complete 75 hours of additional courses and pass the state's broker exam.

Q. Where can I find a local REALTOR®?
For a list of KCAR REALTOR® Members, please click here.

Q. I want to buy a home, what is my first step?
A. First, you should figure out your wants and needs. How much can you afford to spend per month? What features are important in a home? Next, get pre-approved for a loan (click here for a list of our Affiliate Lenders). After that choose a REALTOR® to help you search for the home that’s right for you (click here for our KCAR REALTOR® Members).

Q. How long will it take to sell my home?
A. Every market is unique, and every home sale is unique. The four major factors in selling your home are price, condition of your home, location, and competition.

Q. What is the difference between a short sale and a foreclosure?
A. A short sale is when the bank that owns the mortgage on a home will accept less than what is owed on the property. The seller should be in communication with their mortgage holder before and during the process. A short sale requires a lot of paperwork and can be a lengthy process; however, it keeps the bank from foreclosing on a home owner and has a lesser affect on the home owner’s credit score. A foreclosure is when the bank that owns the mortgage takes control of a property on which the homeowner has not made the required payments on the mortgage. To avoid foreclosure, please seek help from your mortgage holder or another accredited resource. Click here for a resource guide for sellers’ in distress.

Q. I’m having trouble with my mortgage, where can I go for help?
A. First you should try to contact your mortgage holder. For a list of lenders provided by the U.S. Department Housing Urban Development (HUD) SELLER GUIDE please click here.

Q. I want to know information regarding local school districts?
A. For the Interactive Illinois Report Card for schools in Kankakee County, please click here.