William's Places: November 2011

The Value of a Good Real Estate Agent – the PANIC difference

For buyers and sellers, having a good real estate agent to assist you in buying/selling your home will reduce the likelihood of reaching a state of panic. This cannot be stressed enough, so if you are thinking about buying or selling on your won, read this first, then reconsider...

What value does a good real estate agent have? Recently I have encountered a larger number of persons who are trying to sell their own home or contact the listing agent to buy. I suspect this is due to the fact that these persons want to save money and fail to see the value of a good real estate agent.

Why do I believe I am worth the money I receive in a typical transaction? My value as a good real estate agent is in what I have dubbed the PANIC difference. The PANIC difference is:

  • Pricing. The ability to determine a value which is fair market and is a realistic appraisal figure. In the current market this takes some expertise. A good real estate agent has advance training, experience and tools of the trade to help a client determine a reasonable selling price or a reasonable offer price. This skill must not be minimized by either clients or other real estate agents.
  • Agency Relationship.Most consumers do not understand the importance of having proper The Value of a Good Real Estate Agent – the PANIC differencerepresentation. Too many throw caution to the wind, believing they will save some money if they go the road themselves. I am amazed someone will embark on a several hundred thousand dollar decision without proper coaching, education or experience. I believe so strongly that a consumer is best served by finding an agent who they trust and has the proper experience and using that person by signing a Exclusive Buyer Agency contract. Do you understand how to structure a deal to ensure your well being? Do you understand contingencies to the agreement of sale and how they work? Do you want inspections? Without proper representation, you will basically go it alone. That is your choice, but one I would not advise.
  • Negotiation abilitiesIt also takes some experience to understand the negotiation tactics as a contract is being worked on, signed and completely executed. Again without proper representation, you the consumer are on your own. I recently had a client who told me, “You do not seem too worried about this, so I guess I will not worry.” An agent, who can remain calm, even during tense times, is well worth it.
  • Insurance policy. Will you buy an insurance policy on your new home? If so, why? The simple answer is to protect your asset against possible catastrophic events. The value of a good real esate agent is very similar to buying home owner’s insurance. Most buyers and sellers I meet have no idea of what could go wrong or what it actually takes to complete a real estate transaction. A good real estate agent is like a great insurance policy.
  • Contacts. I have been reminded of this recently. A buyer used one of the inspectors I had suggested. This buyer was from out of town and did not know anyone. The buyer was incredibly impressed with the inspector’s professionalism and thoroughness. I also, have many contacts for mortgage, insurance, carpenters, electricians, plumbers, etc. These contacts are invaluable to you the consumer.

     

When selling or buying a home or investment property, you will not need to PANIC, if you hire a good real estate agent. The value of a good real estate agent far exceeds what it may cost you in this onetime fee associated with the real estate transaction.

Want to learn more about the value of a good real estate agent, please contact me.

 

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The Value of a Good Real Estate Agent – the PANIC difference
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