Why wouldn’t you just want to buy or sell a home without the expense of a real estate agent or Realtor® and save those fees they charge for doing it? Well lets actually look at why you should use a Realtor® and what you get for those commission fees!
1. Negotiation skills and help dealing with the buyers, sellers, home inspectors, bankers, insurance company, state agencies and the list just goes on and on… They are professionals that have been trained to present your case in the best light and agree to hold client information confidential from competing interests. They work for you and are not emotionally tied to the deal like the buyer and seller.
2. They will filter out the looki-loo’s and bring serious buyers to you… this alone can save you multiple headaches and late night phone calls and drop-ins! If you are a buyer they will allow you to view the properties without the owner driving you nuts and into making a deal based on speed and not facts.
3. They have neighborhood knowledge (schools, shopping, crime, etc…) or know how to get the facts for you due to an exclusive network of professionals they work with everyday!
4. Use their knowledge to your benefit! They must take continued education classes each year to keep their license current, along with keeping up with the latest real estate laws for your state. Henry Ford once said that when you hire people who are smarter than you are, it proves you are smarter than they are!
5. They know the market conditions and have the information at their fingertips whether they use a pc or their smart phone… it is only a click or two away! They know what the prices should be, can pull up comparable listed properties and recently sold properties for the neighborhood you are looking at. They can tell you how long the property has been listed and how often, they can pull up seller disclosures and plat maps, tax information, etc…
6. They handle all the paperwork for you from buying and listing agreements to sellers state mandated disclosures, well logs, plat maps, earnest money, and the list just goes on and on…. Most real estate files average from one to three inches thick of paper. One tiny mistake or omission could land you in court or cost you thousands in fines and fees.
7. An agent’s success and continued career in real estate are referrals. Few agents would survive if their livelihood was dependent on having to find new business everyday. This gives agents strong incentive to make certain you 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 one again. Most people sell their home every 5 to 7 years…
8. Price of the property or home is dependent on many factors but the owner has the largest percent of interest in the sale. Contrary to what some people believe, agents do not select prices for sellers or buyers. They will guide you with the facts of the current market for your area based on facts and figures available to them…
Which brings us to the question: How does your agent get paid? If a listing is at 7% commission for example, an agent has a 7% vested interest in the sale, but the client has a 93% interest. The way it works is that 7% gets split between the buyers agent and the sellers agent so each half would be 3.5% with a portion going to their office for advertising fees, paperwork, office fees, internet fees, MLS dues, etc… The agent pays all these fees along with his or her gas, insurance, meals, etc… from their portion of the commission… they don’t make a dime until the sale closes… they either work for you or get nothing… yup, it is all or nothing in the finest sense of the word!
I hope this helps you make an informed decision on whether to use an agent or go it alone…
Joe Conowitch ePRO
Windermere Colville 790 S Main St. Colville, WA 99114
Phone: 1-509-684-1012 Office
OH, BY THE WAY …. If you know of someone looking to buy or sell property in my area or around the US…… please give them my name and number and I will be happy to give them the best service possible or find them a qualified agent in their area! Thank you!!!