1. Education and Experience
You don't need to know everything about Buying and Selling Real Estate if you hire a realtor who does. Henry Ford once said that when you hire people who are smarter then you are, it proves that you are smarter then they are. Members of the Real Estate Board of Geater Vancouver are required to update their professional educational resume every 12 months. 95% of realtors drop out of the business in the first year. For those who have been around for more then 3 years chances are they have been there and done that!
2. Agents are Buffers
Realtors take the spam out of your property showings and visits. If you are a home buyer Realtors will act as a buffer between you and the other agent keeping them at bay and from nipping at your heals. If you are a Seller your Realtor will filter all of those phone calls that lead to no where from lookie loos and try to induce serious buyers to immediately write an offer.
Realtors possess intimate knowledge or know where to find the industry buzz about your neighbourhood. They can identify comparable sales and hand these facts to you in addition to pointing you in the direction where you can find more data on schools, crime and demographic. For example, you may know that a home down the street was on the market for $550,000 but a Realtor will know that it sold for $485,000 after 65 days on the market because there was an underground oil tank in the backyard.
4. Price Guidance
Contrary to what some people believe Realtors do not select prices for Buyers and Sellers. They do however help to guide clients to make the right choices for themselves through sales history and neighbourhood comparables.
5. Market Conditions Information
Realtors can disclose market conditions which will govern your Selling or Buying process. Many factors determine how you will proceed. Data such as the average price per square foot, cost of similar homes on the market, median and average sales prices, and ratios of list to sold prices among other criteria will have a huge bearing on what you ultimately decide to do.
6. Professional Networking
Realtors network with other professionals many of whom provide services that you will need come the time to buy or sell. A good Realtor will have access to vendors that have a reputation for efficiency, competency and competitive pricing. Realtors can give you a list of references with whom they have worked and provide background information to help you make a wise desicion.
7. Negotiation Skills and Confidentiality
A top producing Realtor will negotiate well bacause unlike most buyers and sellers they can remove themselves from the emotional aspects of the transaction. It is a part of their job description. Good agents are not messengers delivering buyer's offers to Sellers and vice versa. They are professionals who are trained to present their clients case in the best light and agree to hold client information confidential from competing interests.
8. Handling Volumes of Paperwork
One page deposit receipts were a prevalent thing in the early 1970's. Todfays contracts run 6 pages or more. This doesn't include the property disclosure statement, title searches or strata documentation. Most real estate files average thickness run from one to three inches of paper. One tiny mistake or omission could land you in court or cost you thousands.
9. Answer Questions After Closing
Even the smoothest transactions that close without complications can come back to haunt. One call to your agent can straighten out the confusion. Many quesions can pop up that were overlooked in the excitement of closing. Good Realtors stand by ready to assist. Worthy and honest realtors don't leave you in the dust to fend for yourselves.
10. Develop Realtionships for Future Business
The basis for a realtors success and continued career in real estate is referrals. Few Realtors would ever survive if their livelihood was dependant on consistenly drumming up new business. This emphasis gives Realtors strong incentives to make sure clients are happy and satisifed. It also means that a Realtor who stays in the business will be there for you when you need to hire a Realtor again!