5 Reasons You Don't Need an Agent

WOW

It is hard to believe that my profession as a REALTOR, was compared to that of a fast food chain. We are not a "drive- through" service industry. REALTORS provide "made to order" services to their Seller's! I can tell you, firsthand, that there is nothing fast and/or easy about selling RE in this market! In order to sell your property today, you must have all the necessary and essential tools to do so. Pricing and advertising are only a few things to consider. It is important to consider all questions when thoughts of going it alone surface: Do I have the ability and/or the resources to advertise my property locally, Internationally as well as to customers looking to relocate within the US (multi-media)? Do I have the ability to qualify potential customers? Do I have the resources to overcome obstacles and/or legal issues if they occur? Do I have the ability to price my property for today's market? Do I feel confident about writting a contract (which is legal and binding)?

Sure, while you can pay to have your property placed on the MLS, you can pay a RE attorney to help you with paperwork, you can pay to have your property advertised on some RE websites, what would be the true cost to you if you missed the mark in the areas advertising/pricing? You may be surprised. Each month your property remains unsold, you are not only still paying on mortgage(s) (money out of your pocket),you may be losing value in your home. Yes, your properties value may be decreasing. In todays rapidly changing market, prices are in a constant state of influx. Short sale/foreclosure prices are affecting the market as a whole. Both can cause a decrease in home values, and this does not just apply to specific neighborhoods. If your property stays on the market too long, you could fall victum of "chasing down the market".

In conclusion, I believe that solely advertising your property on an MLS only site is no longer an effective stand alone "tool". You need to have professionals on your side to help with pricing, marketing, qualifying customers, and negotiating an offer! If you interview and find the right REALTOR, you will be able to sell your home in a reasonable timeframe for a price that is suitable to todays market. Buyer's are out there and we can find them!

Christie of FL @ May 29, 2009 12:54:46 PM

For Sale by Owner Handbook

A really great book to help sellers sell is The For Sale By Owner Handbook by Piper Nichole. It walks you through the entire process, step by step, with advice from experts across the country.

Belinda of VA @ Feb 04, 2009 20:40:57 PM

Realtor Education

I am not sure what state Mr Healy lives in but in North Carolina you have to obtain a Real Estate Brokers license to represent buyers and sellers. It is much more involved than a two week time period. There is a comprehensive 75 hour pre-licensing course with a test that must be passed and then a state exam to pass. After completion of this class there are 3 more 30 hour classes and tests that must be completed and the broker must work under an experienced broker-in-charge full time for 2 years and maintain their yearly mandatory updates and continuing education before they can work out on their own as a broker-in-charge. Definitely NOT a two week program. There is a tremendous amount of information that a broker needs to learn in order to represent their clients. While homeowners are welcome to sell their own homes, it would be best not to mislead them into thinking that they are anywhere near as qualified as a licensed broker (at least in NC) in knowledge and experience concerning selling and closing on real estate just because they take a short seminar concerning FSBOs or read some articles online. Whether they use a Realtor or spend money consulting a lawyer, they still need someone with experience and training to help them through the process.

Karen Jetton of NC @ Jan 23, 2009 12:23:33 PM

interesting comments from everyone!!!

Isn't it funny how we all have cell phones now? Just a few years ago nobody did. And how about the internet for heavens sake? I visit http://www.themlsonline.com everyday as well as other sites that are there for the consumer to browse. While I must agree with most agents here who have responded to this blog , the time is moving ever so closer when the real estate agent will be a thing of the past. All of their arguments are valid except the only certainty in life is change. We'll always need appraisers and lawyers for the legal angle but being a waiter at Walt Disney World for 14 years I realize not everyone wants to eat at a full service restaurant and tip the waiter for they'd rather go "fast foods". A Real Estate agent makes in a much easier process and experience for sure yet it is becoming increasingly easier for the consumer to omit them.

of FL @ Jan 05, 2009 14:35:54 PM

response to dan of OH

Sounds like you did not get a very good buyers agent, which, by the way, I doubt you paid any money to, as buyers agents are usually paid by the sellers commission. Still, a good agent will do everything in their power to make certain their buyer gets the best home for them. I do. I stay in contact with my clients and follow up with them long after the sale to make sure they are happy. If I am working as a buyers agent, and my client has questions I do not have answers to, I contact the listing agent on behalf of my client. Many times, I will set up a meeting at the home with all parties IF my buyer is seriously interested. Some folks are just "window shopping." I am experienced enough to figure that out rather quickly by knowing what questions to ask. I am also in contact with the buyers lender to make sure they can afford the home they are looking at. When selling your home yourself, you have no way of knowing if a person looking at your home is serious or not. Youve just wasted your time cleaning up and talking it up to someone you may never hear from again. I have their name and number before I show, as well as prequalification information so I do not waste a sellers time. I spend hours, days, and even months with my buyers. I know what they need, what they want, and what they can afford. I speak to the closing attorney nearly daily and make certain things are going according to plan. No surprises at the last minute. As for listing homes, I am a member of many different MLS databases available only to Realtors. Since most people use a Realtor to find a home, doesn't it seem smarter to utilize this tool? Every piece of property I have ever sold has been sold after the agent, either myself or another, found it on the database. Most people dont drive around looking for FSBO signs. An agent will work hard to make the deal work. I have cut my commission to make it work. Oh, and by the way, you should have had your inspector come back to the home you purchased after repairs were made. They usually only charge a very minimal amount for this. Any good agent would have advised you of this, since we are not inspectors ourselves and couldnt have guaranteed any work any more than you were able to. A listing agent also makes certain the sellers sign the proper docs ensuring that material facts are known. (Property Disclosure). The Real Estate Commission makes certain we cover everything. If you buy a FSBO and find out after the purchase that it has mold, you are out of luck. Buying a home listed with a Realtor decreases your risks. This goes for selling your home as well. Agents know you are better off disclosing than taking the chance on being sued later. If my buyers wont have an inspection, I know to make certain they sign waivers issued by the Real Estate Commission, thus protecting the sellers. I work AT LEAST 6 days a week, 10 hours a day. Do you have that kind of time to get your home sold and get it sold safely?

A. McDowell of NC @ Nov 30, 2008 00:26:26 AM

Healy

I cannot believe the idiotic comments by Mr. Healy. What universe does he live in? Real Estate Professionals go through very comprehensive training just to get a license --- way beyond 2 weeks! All aspects of the real estate transaction are covered in detail. No, we are not Appraisers, but we are trained to know how to do what an appraiser does, and understand the various appraisal approaches and their specific reasons for using them. No we are not attorneys, but we are continually trained in all aspects of the law regarding real estate transactions. We are not allowed to give legal advice, as that would be tantamount to prcticing law without a license. However, we are bound to give sound real estate advice within the confines of the law. We are required to maintain Continuing Education in order to be knowledgeable about all aspects of real estate. In fact, we are deemed to have that knowledge, legally, whether we do or not. In other words, we are liable for what we know and for what we SHOULD know!

Yes you can market a home yourself. You do not, however, have access to some of the venues of Real Estate agents. And, why should you have free access? Do you pay the fees we pay to maintain these venues? No, you do not.

And, while on the subject of marketing, who do you market to? If you are marketing to the general public you are wasting precious dollars trying to find a neeedle (buyer) in a haystack (millions of non-interested, non-buyers). Listing with a real estate professional opens marketing to the playing field where the real buyers are --- Real Estate Professionals. By all acounts, at least 80% of the buyers out there are using Real Estate Professionals to help them. Where would it make sense to spend your marketing dollars?

Commissions: So you think 6% is a lot? Remember that the lIsitng brokerage only gets hhalf of that --- 3%. From that 3% comes the marketing dollars to market your home, pay the lidting agent, and provide for an operating profit for the brokerage. Not all listings are profitable. The oither 3% gors to the selling brokerage. Guess what, they also spend partof that money on marketing themselves to the buyer community, to attract buyers to their agents, who in turn work to sell your home. Oh, and by the way, that "greedy" agent who actually procures a buyer for your home spends an inordinate amount of time and money to get that buyer to the closing table --- all before reciving a dime from the sale of your home. The buyer's agent never knows until the end of a transaction whether he/she has turned a profit. Not all Buyer transactions are profitable.

So, Mr. Healy seems to have his facts a litle skewed to his own viewpoint to protect and promote his own agenda.

Gary of SC @ Aug 10, 2008 11:09:55 AM

Don't need an agent

Hireing an agent can be a good thing. I don't want to hassle with sitting at Open Houses, follwing up with the people that came to it, making sure they are qualified, paying for advertising & marketing, and taking calls for appointments. Not all states require the involvement of a lawyer. I tried to buy into the MLS, but found out you must be a real estate agent to subscribe. To me, the 6% was worth it. Of course, I didn't hire the first agent I came across. I interviewed 3 realtors with years of experience & a vast knowledge of the area I lived in. I did the For Sale By Owner with my first home and spent lots of money on advertising, a Transaction Broker to handle the paper work, & the fees for ForSaleBuyOwner.com. In the end I had to hire a lawyer, because I was being sued by a potential buyer because of a mistake on the Seller's Disclosure which I filled out wrong, someting a Realtor would have picked up on. In the end, hiring an agent would have saved me thousands of dollars after pay a 6% commision.

Fred of PA @ Jul 19, 2008 10:39:03 AM

dont need em

bought and sold 2 houses by myself, only in the purchase of the second house was a realtor involved, what a hassle. contact took several days to a week, repairs requested were not done appropriatly and agent ensured me they were but i ended up replacing all of the repairs myself after purchase. Why am I not allowed to talk directly to the buyer or seller, this agent and the listing agent could not answer simple questions about the neighborhood or the homes history. I would prefer to talk directly to the previous home owner for details. without an agent went smooth, deal was struct in minutes not days, contact was personal with buyers and sellers, besides, title company and attorney did the most work and ensured proper paperwork and all laws were followed. 6% what a waste

dan of OH @ Jun 28, 2008 15:03:12 PM