WHAT’S THE POINT OF USING A REAL ESTATE AGENT?
October 21, 2017 | Richard Sites
Should you use a professional real estate agent in your next deal or do you just need someone to open doors? This question gets constant review as we lean more and more on technology, machine learning and AI for answers.
You can get any of these “assistants” to help you by simply saying “OK Google” or “Hey Siri” (except that doesn’t work on my iPhone) or on the latest Pixel 2 by just squeezing the phone. But let’s take a look at some of the advantages a professional can offer. (PS: The term “Realtor” is owned by the National Association of Realtors)
Buying A House
Here are three ways a professional real estate agent can help:
Updates on Neighborhoods
I have written that everyone has data but what you really need is information. This is what an agent can do for you. They can translate data into information and generally they are aware of changes or trends coming to a community.
Updates on Legal Matters
The real estate contract is about 18 pages long, more if there are addendums. The standard contract is written by the Florida Association of Realtors and the Florida Bar Association. Unless you deal with these contracts regularly, there is a good chance you don’t understand every line item. Local attorneys are always giving classes at the local Board of Realtors on avoiding pitfalls when using these forms and updates on changes. This means your agent should be up to date on the latest form (but you should still hire a real estate attorney).
Updates on Consumer Matters
Agents, by virtue of working in the field every day, hear about consumer issues you might not be aware of. For example, there was a big problem with Chinese drywall used for building during certain years. Agents hear about these things from other agents and home inspectors.
Many sellers consider attempting to sell their home themselves. FACT: Less than 1% ever successfully do!
Not Emotionally Attached to Home
Emotions and memories are what turn houses into homes. So it stands to reason you are emotionally attached to the house…or home. Buyers don’t care about your emotional attachment, the great Berber carpet you installed in the guest room or those nice shelves you built in the garage. All they care about what is “what’s in it for them”?
See Your House Only as Inventory
Agents are in and out of houses all the time. This means they can objectively evaluate your house solely as inventory, not as a “home”. Knowing what other inventory is out there allows agents to be detached from the emotions mentioned above.
Not in a Psychological Battle
Buying and selling homes is as much psychology as dollars and cents (or sense). Once a contract is secured, all parties want to get just a little more out of the deal. PS: This should be done in the negotiation stage not later.
This means that in general, the parties are at odds over the details. And I can tell you that after 14 years in this business the devil is in the details. A professional real estate agent is not engaged in this psychological struggle.
All things considered, a professional real estate agent and a good real estate attorney can make your next transaction smooth and trouble free.
Here’s a sample from a letter I received from a seller client:
“Thank you again for the wonderful job you did in helping us sell my brothers house.
We could not be more pleased with the professionalism and compassion you showed us. You were always ready to help as we lived a long way away. I honestly don’t know how we could have managed all the work we needed to do without your help.”
If you need help meeting your real estate goals, contact me using the form below.