>Real Estate transactions are the most expensive and the most emotional, yet a lot of people will go it alone. Part of the reason is that Realtors are as trusted as used car salesmen, another is that it is not rocket science. Recent events show, more than ever, that a Trusted Realtor on your side is an essential part of the deal, and real estate deals are very complex to even the most knowledgable do-it-your-selfers.
I can not fault people who do not trust Realtors. Every person knows someone who had a bad experience with an agent. One can spend very little time and money to hold a Realtor’s license, and a lot of people become agents for a year or so, and then find out how hard it is to make money in the business. This situation creates an industry, with low barriers to entry and high attrition rates, of very low reputation.
For people who think this is all too easy and any-body can do it, I can offer two pieces of advice. If you are buying, what benefit can you get when not working with an agent. You can not save money, the seller pays, and a buyers agent has tens or even hundreds of properties in the area of your interst to choose from, He/she has no attachment to any of these properties and which ever they sell, they make money.
If you are a seller, the savings of agent fees ( comission ) might be enticing, but do you realy save. The customers who will knock on your door, including ones with agents, will also expect a disount. No problem you think as long as I sell it fast. Fast is the word one should focus on. Even the least experienced agent has more tools available to them than one can ever get by trying it alone. There is a good reason why seven out of ten for sale by owners end up listing with a Realtor. If one is thinking ” well, three out of ten do it”, think this ” did they really make more”.
How can one find an agent that can be trusted. Let them earn that trust. If you see, and you will, behavior from an agent that does not protect your interests, fire the rascal. If on the other hand you hear truthful statements, and you will, even statements you do not want to hear, like your property is not worth that much, give it a thought. Realtors do know more about real estate than you do.
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