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Why
Use An Agent?
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Let's
say you've decided to remodel. Although you may be
somewhat handy, you know you're better off hiring an
expert, someone who knows the ins and outs, who's familiar
with regulations and red tape. After all, why take a risk
and go it alone when this little venture may drain your
checkbook of a few thousand dollars?
Now consider a home sale transaction. In this case, a
buyer or seller may have many reasons for involving a
professional. Given the sizeable monetary outlay-possibly
the single largest financial transaction in a person's
lifetime-it seems reasonable, even smart, to call in a
specialist. Not surprisingly, most Americans do. According
to the National Association of REALTORS¨ (2000 NAR
Profile of Home Buyers and Sellers), close to 4 out of 5
existing homes in the U.S. have been entrusted to real
estate professionals. |
What can real estate professionals do for you? Sales
associates have evolved from being singularly focused on
the purchase or sale of a property to being multifaceted
and hands-on, where they typically provide countless
services to ensure clients a painless transaction. For
example, a sales associate may introduce buyers to new
neighbors and assist with registering children at school.
A relocation specialist may act as a single point of
contact to coordinate all aspects of the move, provide a
relocation kit as well as personalized relocation
counseling, arrange and lead an area orientation tour, and
more, depending on client need.
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Sales associates rely on specialized knowledge and
experience to move easily in and out of these various
roles during a single transaction:
- Marketing Manager - To position a home to
sell quickly and at a profit, a comprehensive
marketing strategy needs to be developed. Successful
strategies generally include sharing information
through the local multiple listing service, promoting
the home to other sales associates, placing ads,
featuring the home on the broker's website, developing
fact sheets, installing a yard sign, and planning and
conducting open houses. A sales associate can handle
calls, schedule appointments and show the home for
you.
- Transaction Coordinator - As a single point
of contact, a sales associate can manage the entire
transaction including coordinating inspections,
keeping in touch with the other agent, managing the
documentation for the loan process or following up on
the progress of the buyer's loan, monitoring deadlines
associated with contingencies, providing applicable
paperwork, estimating closing costs, and helping
prepare for a smooth and uneventful closing.
- Community Consultant - A sales associate can
be a great resource, especially to homebuyers
relocating from other communities. He or she knows the
local area including home values, taxes, utility
costs, and school data, and may even be knowledgeable
about resources pertaining to your special interests
or needs. For instance, should you require help
relocating an aging parent with you, your sales
associate may be able to direct you to local services
or organizations for the elderly.
- Property Specialist - A sales associate can
assist buyers with identifying houses that meet their
needs and provide objective information about each
property. For sellers, a sales associate can determine
a realistic selling price based on comparable sales,
local market conditions and motivation to sell in
addition to advising sellers on how to prepare the
property to be shown.
- Skilled Negotiator - Buyers and sellers
benefit from working with a strong advocate during the
negotiating process. A sales associate can help you
objectively evaluate an offer then work to negotiate a
favorable contract. During the process, he or she will
review the contract and obligations before you sign,
explain how contingencies and release clauses work,
and so on.
- Trusted Advisor - A sales associate can
familiarize you with the processes involved in buying
or selling a home, alert you to potential risks, help
you determine how much house you can afford, explain
alternative financing strategies, as well as provide
tremendous moral support.
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It probably doesn't bother you that your waiter works
part-time and is in school full time. Part-time store
clerks are perfectly acceptable. On the other hand, you
would probably think twice about a part-time surgeon or a
part-time nuclear engineer. After all, isn't keeping up
with and refining one's skills in a demanding field a
full-time pursuit in itself? Why then should you
settle for a part-time real estate professional?
Your home is probably your largest and most treasured
asset. Buying and selling homes involves complicated
transactions, careful marketing, skillful negotiating and
a full-time professional who has the time to network
effectively on your behalf.
Among the many changes in recent years that demand
significant time from a real estate professional are the
innovations made possible by the Internet. A savvy real
estate professional today knows how-to find and market
homes online and on the Internet using a variety of
techniques. Not all of these are obvious to the average
Internet user and some, such as area multiple listing
service systems, remain exclusively available to real
estate professionals. New websites are born everyday and
old ones go away. Keeping up with these changes could keep
an entire team of professionals busy, let alone a
part-time real estate sales professional.
Changes in real estate marketing require a skillful
professional as well. The advances in desktop publishing
and four-color printing technology mean a wider variety of
low cost and highly targeted print advertising vehicles
are available to the real estate professional seeking to
attract buyers and sellers on your behalf. When you list
your home with a real estate professional, you want to
know that they have the time to access the latest in
direct marketing technology on your behalf. Not that your
real estate professional creates the ads or sends all the
letters that promote your property, but a cost-effective
marketing campaign requires a knowledgeable decision-maker
to choose the best tools from among the myriad of
marketing vehicles and technologies available today.
One of the key functions of a real estate professional
is to bring buyers and sellers together.
While a local multiple listing service provides a real
estate professional with a guide to properties currently
on the market, the raw data is only the beginning of the
process of putting buyers and sellers together. A real
estate professional must spend a good deal of time
becoming knowledgeable on the communities and
neighborhoods served, developing resources to answer
questions about area schools, taxes, recreational
amenities and other issues. In addition, your real estate
professional should spend countless hours on home tours
becoming intimately familiar with the details of available
properties. Peer-to-peer networking among real estate
professionals is a key source of the buyers and sellers
that are matched together and a key to knowing about
properties before they even go on the market. To the
extent part time real estate professionals have less time
to dedicate to all of these tasks, they may be less well
prepared to serve your needs.
Buyers seeking highly attractive properties can lose
out on a real estate opportunity in a matter of hours if
their property search is handled haphazardly. Sellers
hoping to attract a buyer would be disappointed to know
that a potential buyer saw another home before theirs
simply because their real estate professional was unable
to show the home at a convenient time.
One of the most critical roles played by your real
estate professional is in the negotiation phase.
Negotiations over the terms of a home purchase contract
can be extremely sensitive. A real estate professional
needs to be available to respond quickly and turnaround
offers and counteroffers at any time.
No doubt, there are many capable real estate
professionals who for a variety of reasons are only
available on a part-time basis. Nevertheless, if having a
full-time agent is important to you, ask your real estate
professional whether or not they are full-time
professionals and what hours they are available. With so
much at stake, the answer to the question: 'full-time or
part-time?" could definitely make a difference in the
choice of the right real estate professional for your
needs. A full-time real estate professional stands
ready to deliver full value in response to your home
buying and selling needs.
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