LIMA, Ohio (WLIO) - Local business leaders received a lesson on the history of real estate in the United States, tracing its evolution from its early days to modern practices.
The National Association of Realtors (NAR) was originally founded as the National Association of Real Estate Exchanges in May 1908. The organization aimed to foster professionalism in the industry at a time when it was not uncommon for some individuals to undermine property sales.
Since its founding, the real estate profession has evolved significantly. Today, real estate agents emphasize their role in assisting buyers and sellers while protecting their interests throughout the process.
Local business leaders received a lesson on the history of real estate in the United States, tracing its evolution from its early days to modern practices.
“The biggest thing that consumers need to know when they’re buying or selling real estate is that it’s okay to ask for help, and that realtors are there to be able to help them, walk them through the transaction,” said Tim Stanford of Superior Plus Realtors. “Because there are a lot of pitfalls that can happen on any transaction, and it’s helpful when people have been there and done that and been through it before you.”
Stanford also cautioned people about "wholesale" buyers—investors who claim they will purchase a property but act as middlemen, searching for a buyer. If they cannot secure one, they may back out of the deal, leaving the seller in a difficult position.
