It’s 2016, and it seems our need for real live people is ever-diminishing. Given that technology has become so important to buying and selling homes, you’d also think real estate agents would be a dying breed – yet they aren’t showing any signs of slowing down.
So why are real estate agents still thriving when other careers aren’t?
Selling is complicated
For many people, a real estate transaction is financially momentous and complex – the most complex transaction people do in their life. People like having an expert when dealing with large, complicated transactions. They want someone who does their job full-time to make sure that they are not doing anything wrong. Real estate transactions are often anything but straightforward. Some deals, like short sales, can be much more intricate than a regular transaction.
Buying isn’t easy either
Buying a home, even if you come in with all cash, is not a cookie-cutter task, and you can find yourself drowning in paperwork and stressed out juggling things like meeting buyers, and dealing with a seller’s agent, lender and title companies. Agents ease the whole transaction, and it’s something that has kept their profession alive. They can hold your hand through the process. They can tell you when something is taking too long or when something is going wrong.
It’s their top priority
Your own interests and priorities will very likely always be split – because of things like family or a job. A realtor can be focused on getting the deal done and has one singular aim : to sell houses. Simply put, a real estate agent can make your life easier. One example is that you have to keep up with showings. If you have a full-time job, that would get hard. That means – the less time you make for buyers, the longer your place will stay on the market and that’s not good for your bottom line.
They know the market better than you
The agent knows the market intimately, even more than a pretty informed resident. All that knowledge saves time. Tracking sales, knowing listings, spending a lot of shoe leather on houses already for sale – they know more than the ordinary person. They understand condo boards and title companies. As a player in the game, they know what other players are looking for and how to deliver.
They’re objective
Without an agent showing your house for you, you have no shield from criticisms that can and will be made about your house from prospective buyers. Your favorite room in the home might be described as “tacky,” “needing renovation” or much worse. Sometimes such comments are negotiating tactics. Sometimes they are heartfelt opinions. Either way, they can lead to problems. It impacts objectivity for a seller to hear negative things about their own place. Realtors aren’t emotionally invested and don’t take comments personally.
The cost is worth it
We’re not saying a 6% commission is chump change. It can be a good amount of money when you’re selling your house. But using an agent saves a ton of time. Even with a 6% commission, time is money – for many people, time saved negates the cost. Plus, given that home buying or selling is a negotiation where you can save big if you bargain right, skilled real estate agents can step in to fight on your behalf, saving you major money. In other words, typically the money you pay an agent will come back at you somehow.
