Do you need a Realtor?

I am a Realtor and an accountant here in the Seattle area. It has become painfully obvious to me that many folks in the Pacific Northwest don’t have any idea what Realtors do for them. In fact, this is a common phenom all over the country. The recession, and tough times really don't add to the perception of a Realtor's value. 

There are various reasons for this false perception. The industry, poor Realtors, and upset and uninformed homebuyers and sellers have perpetuated a myth that Real estate sales people are sellers and buyers of property. Let's talk about what exactly a Realtor does. Realtors provide a service and the price for that service is negotiable.

What do Realtors do Anyway

It is always a wonderful thing to hear the question “why haven’t you sold my house”? REALTORS DO NOT SELL HOMES! Real Estate sales people are many things, but they are not salespeople.

Your Realtor is an information broker. With all of the information bombarding you at every turn your realtor is there to discern, disseminate, and de-clutter this information into manageable bites that you can digest and swallow. That isn’t all your Real Estate Professional does.

A Real Estate Professional should do the following:

• Consult
• Disseminate information
• Project manage
• Provide impartial negotiation
• Represent you through the contract process
• Provide protection against aftermarket liability
• Work as your agent

Consultant
As your consultant your real estate professional helps you to get through all fo the information in your market. He or she is your local expert on properties. Remember to always ask questions of your realtor. Although Realtors are not soothsayers and can not tell the future they should be able to give you an idea on what your market is doing. They can give you trends and the current pulse of your area.

Disseminate information
There is a lot of information out there! The news media complex is constantly bombarding you with up to the minute national numbers pertaining to real estate. That is like saying that it’s going to be sunny and 60 degrees nationwide. In Real estate EVERYTHING IS LOCAL! We are talking to the neighborhood. Your Real estate professional is watching the trends and knows what the temperature in your very specific market is, and if he or she doesn’t then they know where to get that information for you.

Project Manage
In a Real Estate transaction you have several stages. You have Stage 1, which is in my opinion, where you have a mutual acceptance situation. Two parties agree to buy and sell a property. Next you have inspection, financing, signing and finally completion of the deal. While these stages are happening, you must have a person to guide the transaction through. What if Title isn’t correct? What if a contingency arises from the inspection? What if financing is delayed? All of these things must be carefully watched and attended to in order to have a smooth transaction.

Impartial Negotiation
How on earth can an owner be expected to be impartial about their pride and joy? A property that you once thought was a ‘beautiful home’, or a ‘great buy’ is going to have some emotional attachment. If it doesn’t have an emotional attachment then you absolutely will have your ego getting in your way. Ever heard the expression “a lawyer who represents himself has a fool for a client”? This is true in Real Estate as well. You want someone with no vested interest in a property besides getting it sold. This is the only way to get a home sold effectively in a buyer’s market.

Represent you contractually
You do not have errors and omission insurance, but Real Estate attorneys and Realtors do. You do not have routine knowledge of some of the legal pitfalls involved in selling and buying real estate. Real Estate Attorneys are your best bet, but many times Realtors are more cost efficient. Try your local realtor.

Now that you have an idea of what a Realtor actually does for you, you know have the power to decide on whether you need these services, or want these services performed for you. Someone that tells you that they can magically sell your home is not being truthful. Realtors can consult and because they have experience with the market they can be useful and effective, but they are not sales people. Your home sells itself.

Keep your questions and comments coming. Talk with you again soon.