With so much information readily available online, clients sometimes ask themselves, “Why should we hire a Realtor?” They wonder if they couldn’t buy or sell a home through the Internet or through regular marketing and advertising channels without representation, without a Realtor.
Some do OK, many don’t. So if you’ve wondered the same thing, here are 10 reasons why you might want to consider hiring a Realtor.
You don’t need to know everything about buying and selling real estate if you hire a real estate professional who does. The trick is to hire the right person. Why not hire a person with more education and experience than you? We’re all looking for more precious time in our lives, and hiring pros gives us that time.
Realtors take the spam out of your property showings and visits. If you’re a buyer of new homes, your agent will whip out her sword and keep the builder’s agents at bay, preventing them from biting or nipping at your heels. If you’re buying a resale property, they can negotiate a good deal for you. If you’re a seller, your agent will filter all those phone calls that lead to nowhere from the lookie-loos and try to induce serious buyers to immediately write an offer.
Realtors either possess intimate knowledge or they know where to find the industry buzz about your neighborhood. They can identify comparable sales and hand these facts to you, in addition to pointing you in the direction where you can find more data on schools, crime or demographics. For example, you may know that a home down the street was on the market for $350,000, but your Realtor will know it had upgrades and sold at $285,000 after 65 days on the market and after twice falling out of escrow.
Contrary to what some people believe, Realtors do not select prices for sellers or buyers. However, a Realtor will help to guide clients to make the right choices for themselves. Selling agents will ask buyers to weigh all the data supplied to them and to choose a price. Then based on market supply, demand and the conditions, their Realtor will devise a negotiation strategy.
Realtors can disclose market conditions, which will govern your selling or buying process. Many factors determine how you will proceed. Data such as the average per square foot cost of similar homes, median and average sales prices, average days on market and ratios of list-to-sold prices, among other criteria, will have a huge bearing on what you ultimately decide to do.
Realtors network with other professionals, many of whom provide services that you will need to buy or sell. Due to legal liability, many agents will hesitate to recommend a certain individual or company over another, but they do know which vendors have a reputation for efficiency, competency and competitive pricing. Realtors can, however, give you a list of references with whom they have worked and provide background information to help you make a wise selection.
Top-producing agents negotiate well because, unlike most buyers and sellers, they can remove themselves from the emotional aspects of the transaction and because they are skilled. It’s part of their job description. Good agents are not messengers, delivering buyer’s offers to sellers and vice versa. They are professionals who are trained to present their client’s case in the best light and agree to hold client information confidential from competing interests.
One-page deposit receipts were prevalent in the early 1970s. Today’s purchase agreements run 10 pages or more. That does not include the federal- and state-mandated disclosures nor disclosures dictated by local custom, REO’s or short sales. Most real estate files have average thicknesses from 1 to 3 inches of paper, or more. One tiny mistake or omission could land you in court or cost you thousands.
Even the smoothest transactions that close without complications can come back to haunt. For example, taxing authorities that collect property tax assessments, doc stamps or transfer tax can fall months behind and mix up invoices, but one call to your agent can straighten out the confusion. Many questions can pop up that were overlooked in the excitement of closing. Good agents stand by, ready to assist. Worthy and honest agents don’t leave you in the dust to fend for yourself.
The basis for a Realtor’s success and continued career in real estate is referrals. Few agents would survive if their livelihood was dependent on consistently drumming up new business. This emphasis gives agents strong incentives to make sure clients are happy and satisfied. It also means that an agent who stays in the business will be there for you when you need to hire an agent again.
Darla Stever is co-owner and broker of Stever Realty in Fairfield. Reach her at 421-1000 or firstname.lastname@example.org.