There is a common misconception that industry disrupters appeal to “millennials”, because we don’t care about customer service, and just take advantage of the easiest and cheapest way of doing things. Generalizing an entire generation of people is never productive. However, if there are trends, seeking simplicity and being more critical of value seem to be more accurate characteristics. In the case of taxi companies, the process of paying and locating a taxi was more cumbersome than competitors, and the quality of service was comparable .
The characteristics of buying and selling real estate are vastly different than other industries, which is why using a REALTOR® is still the simplest way to navigate a transaction.
Managing the Risks – When you decide to submit an offer, that decision needs to be one that takes into consideration everything that can go wrong: Termites, sewer problems, seller or buyer delays, the list goes on, and on, and on. In your career, I’m sure you have specific industry knowledge. For a REALTOR®, dealing with these transactional issues is a large part of their industry knowledge. A REALTOR® likely won’t be surprised to encounter these issues, and will prepare you ahead of time.
Getting Full Market Value – The National Association of REALTORS® estimates that “a FSBO(for sale by owner) sale, on average, nets nearly a 6 percent lower price than an MLS sale for a similar property”. Getting the same for your property with the simplicity and value of using a REALTOR® is a no-brainer.
REALTORS® also typically know other REALTORS®, and know how they do business. Negotiating skills are essential for fair market value, and knowledge of the market and the players in the market are a huge leg-up.
Professionalism – A real estate transaction is incredibly intimate in the sense that you are typically dealing with your home and/or your future home. The person or company you hire to buy or sell that home will need to “get in your business” to maximize value and ensure a smooth transaction. This is why REALTORS® subscribe to a strict Code of Ethics, and local REALTOR® associations work diligently to enforce that code. Of course there are bad apples, but REALTORS® are constantly working to elevate the industry.
Managing the Transaction – A real estate transaction consists of a ton of paperwork and multiple service providers (i.e. loan officer, escrow, title, etc.). There is a reason for this. The enormity of the transaction consists of a number of risks. More risks means a more complicated transaction in order to address those risks. REALTORS® manage all of this for you. I work for REALTORS® and I couldn’t imagine navigating my transactions without one.
Fighting for Homeownership – Each REALTOR® pays for membership at a local, state, and national association of REALTORS®. The economy may have recovered, but homeownership has not. Homeownership is responsible for the largest redistribution of wealth in American history, and it is our mission to help more people fulfill this dream and move their family up the economic ladder. We work with a number of groups to increase minority homeownership, make it easier for first-time buyers, and fight against policies that hurt homeowners and future homeowners.
If you are on the fence, use a REALTOR®, you won’t regret it. So…Who’s Your REALTOR® ?
Tony Capitelli – CEO of The Inland Gateway Association of REALTORS®
- Search and Marketing Power
- Emotional guidance and setting of expectations
- Availability and convenience (REALTORS® are almost ALWAYS available)
- Staging and sale advice
- Professional listing photos