Many consumers these days are turning to the Internet to replace the critical importance of working with a REALTOR® who has both the local knowledge and experience needed to represent them in the most expensive sale or purchase they will likely ever make. Unfortunately, all it takes is one failed transaction to serve as a painful lesson to both buyers and sellers alike who forgo using the services of a REALTOR®. Before you join the ranks of these "internet first" consumers, take a moment to familiarize yourself with the value a REALTOR® brings to the negotiating table.
The internet, including real estate sites such as Redfin, Zillow, Trulia, Realtor.com, and many others, has made it possible for consumers to engage in much of the initial legwork of locating a suitable property. Most home buyers today depend on the internet as one of their primary go-to research sources when shopping around. However, at the end of the day, there is no substitute for having a REALTOR® represent your best interest in navigating a real estate transaction. Why? Because buying or selling real estate is not like buying or selling a car!
Why Buyers Need a REALTOR® by Their Side
Having an experienced agent with local knowledge to represent and guide you through the ins and outs of an inherently real estate complicated transaction is invaluable.
When purchasing a home, your REALTOR® will:
- help you locate that next perfect home that meets all of your and your family's needs.
- have first access to the newest listings that match your criteria in your specific area of interest.
- assist you in making a solid offer and negotiate the best possible price on your behalf.
- help you deal with the assorted contracts, riders, disclosures, and other complex legal documents involved.
- have access to a great network that includes all kinds of experienced professionals whose services may be required during the transaction, such as builders, attorneys, mortgage brokers, contractors, etc.
Buyers will sometimes forego utilizing the services of a REALTOR® to represent them in the purchase of real estate, erroneously believing that going without professional representation directly to a listing agent will give them more leverage when negotiating on price or other contract terms. This is typically not the end result for the buyer.
The Benefits of a REALTOR® in Selling Your Property
Sellers that decide to go it alone oftentimes quickly realize that have bitten off more than they can chew. Contingencies such as financing, inspections, or appraisals can put any deal at risk if not managed correctly. An experienced agent will put their professional skills at work for you in order to manage these risks, and keep the transaction moving forward to an eventual successful closing. All of these value added services simply can’t compare to a 'For Sale by Owner' sign placed on the front lawn. A licensed REALTOR brings to the table the experience and knowledge needed to prepare your home for sale.
When listing a home, your REALTOR® will:
- prepare a thorough market analysis based on current data and local knowledge of your market
- suggest the best listing price that will sell your home within a reasonable time frame
- coordinate staging the home if necessary
- give your property the most marketing exposure possible
- coordinate all showings and open houses
- coordinate a closing with the title agent and the lender
- work many endless hours to get your property sold for the highest price that local market conditions will allow
All while wearing many different hats and staying cool and calm in dealing with the many very difficult and aggravating situations that can and do arise during the entire sales process.
The Indispensable Role of REALTOR®
REALTOR® know what is necessary to make every transaction a successful one. They stay informed of constant changes in the law, contracts, and local marketing trends and put that knowledge to work for you. They manage difficulties that may arise and keep you informed of your options in order minimize your risk during any deal. It is important to remember that your agent does not get paid unless there is a successful closing. Therefore, there is a very strong incentive for your agent to deliver results for you. Many times they work countless weeks, sometimes months, to get a deal completed. If a deal falls through, your agent may receive no compensation at all for the hundreds (sometimes thousands) of hours of hard work that they have put into a transaction. This is a fact that often times goes unnoticed by the general public.
You can see why due to the inherent complexities of the sales process and the risks to all parties involved in a deal, buying or selling real estate is most definitely not at all like buying or selling a car!
