If I had a nickel for every time someone told me they didn’t want to sell through a realtor because they didn’’ want to have to pay the realtor I would be a millionaire! Seriously. Why do I have to pay a Realtor? To be quite honest, if I didn’t know what I know now then I would probably think the same thing.
1) Being a Realtor is a Profession
A realtor is a profession that is no different than any other profession. It consists of job duties, long hours, supportive income, etc. These realtors go to real estate school and must pass an exam in order to become a licensed professional in their field. When you hire a real estate agent, you are in essence hiring a real estate specialist and there is a cost to the real estate services they provide.
2) Negotiation is a Skill
Negotiations are a crucial part of the process. Let’s face it, going back and forth on price and who pays for this and who pays for that and what repairs will be made, what repairs will not be made, etc., is not something everyone wants to do or is good at. Realtors are the ones who take care of this and believe me, they definitely deserve to be paid. They are trained negotiators and since it’s to everyone’s benefit including themselves, that they negotiate to the best of their ability they are inclined to push that much harder.
3) Agents Have a Full Time Job
Time is also a very crucial part of the equation. Think about it, realtors work around the clock and could be negotiating up until wee hours of the night. Is that something you would want to take on, on top of your own full time job and responsibilities? Realtors move quickly and not responding promptly could cost you a potential buyer. For realtors, this is a full time job so they can respond and be working for you while you are continuing about with your own day to day.
4) Neutral, Informed Third Party
Emotional detachment is something I think is most commonly overlooked but a huge factor when buying or selling a home. People are emotional creatures. We get attached to things, whether it’s our favorite sweater, favorite blanket or even a house. Sellers are usually very protective of their house and are more likely to become defensive and allow their emotions to intervene when it comes to prospective buyers. Buyers can be a lot more critical of a house that is not theirs and generally do not want to move into a problematic house so they tend to scare a little easy. What’s great about having a realtor is that they are strictly a 3rd party handling the transaction. They have no emotional ties so they think clearly and realize that the sole objective is to sell at the best price for their seller and have a new buyer successfully purchase a new place to call home.
Note: I Am Not a Realtor 🙂
So you must be thinking I’m realtor now, right? I actually am not a licensed realtor, however the majority of these topics listed above are everyday encounters in what I do. I am also involved in real estate and facilitate transactions between sellers and buyers. Our Company caters to sellers who want to close quickly and sell in “as-is” condition without the use of a licensed realtor. It’s a bit ironic that my Company offers a similar service and without the use of realtors and yet it seems like I am in support of them. Truth is, I have a good understanding of what their job entails and it definitely has its challenges. Our Company may closer quicker and purchase your house in “as-is” condition, but we must also purchase the house at a discount depending on the amount of work that is needed. There are pros and cons to either selling route. Here’s a brief checklist that may help evaluate whether or not going with a Company like ours is a better choice then using a licensed realtor.