Sometimes clients will ask, “Why should we hire a Realtor?” Many wonder if they couldn’t buy or sell a home through the internet, regular marketing, and advertising channels without a Realtor. Some do OK, many do not. So below are 10 reasons to hire a Realtor.
1. REALTORS HAVE EDUCATION, EXPERIENCE, & INTEGRITY
There are approximately 2.3 million real estate professionals in the U.S., but solely members of the National Association of Realtors can legally call themselves Realtors. This association is made up of about 750,000 brokers and agents across the county who abide by certain a Code of Ethics, maintain a certain professional behavior, and receive advanced educational and ethics training. Henry Ford said that when you hire people who are smarter than you are, it proves you are smarter than they are. The trick is to find 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.
2. REALTORS ARE BUFFERS AND SHARE THE RISK
When you have a Realtor as an advocate, they take the spam out of your property showings and share some of the risk of buying/selling your home. If you’re a buyer of new homes, your Realtor will whip out their sword and keep the builder’s agents at bay, preventing them from biting or nipping at your heels. If you’re a seller, your agent will filter all those phone calls that lead to nowhere and try to induce serious buyers to immediately write an offer. With a Realtor as your advocate, he or she will make it their fiduciary responsibility to assist you through the process.
3. NEIGHBORHOOD KNOWLEDGE
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 a Realtor will know it had upgrades and sold at $285,000 after 65 days on the market and after twice falling out of escrow.
4. PRICE GUIDANCE
Contrary to what some people believe, Realtors do not select prices for sellers or buyers. However, a Realtor will help guide clients to make the right choices for themselves. A Realtor will ask buyers or sellers to weigh all the data supplied to them and to choose a price. Then based on market supply, demand and the conditions, the Realtor will devise a negotiation strategy.
5. MARKET CONDITIONS INFORMATION
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.
6. PROFESSIONAL NETWORKING
Realtors network with other professionals, many of whom provide services that you will need to buy or sell. Due to legal liability, many Realtors 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.
7. NEGOTIATION SKILLS & CONFIDENTIALITY
Top producing Realtors negotiate well because, unlike most buyers and sellers, they can remove themselves from the emotional aspects of the transaction. It’s part of their job description. Good Realtors 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.
8. HANDLING VOLUMES OF PAPERWORK
One-page deposit receipts were prevalent in the early 1970s and less than a decade ago, a home could be bought with a two-page contract. Today’s purchase agreement runs 8 pages or more. That does not include the federal- and state-mandated disclosures or disclosures dictated by local custom. Most real estate files average thicknesses from one to three inches of paper. Realtors work with contracts daily, and can fully understand which points are harmful and/or beneficial to you. One tiny mistake or omission could land you in court or cost you thousands. In some states, lawyers handle the disclosures, thank goodness!
9. ANSWER QUESTIONS AFTER CLOSING
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 Realtor can straighten out the confusion. Many questions can pop up that were overlooked in the excitement of closing. Good Realtors stand by ready to assist. Worthy and honest Realtors don’t leave you in the dust to fend for yourself.
10. DEVELOP RELATIONSHIPS FOR FUTURE BUSINESS
The basis for a Realtor’s success and continued career in real estate is referrals. Few would survive if their livelihood was dependent on consistently drumming up new business. This emphasis gives Realtors strong incentives to make certain clients are happy and satisfied. It also means that a Realtor who stays in the business will be there for you when you need to hire again. Many will periodically mail market updates to you to keep you informed and to stay in touch.
Click the following link to find out why you should work with Michael Sueoka.
