Why Do People Choose Realtors to Sell a House ?

Discussion in 'Real Estate' started by david14beck, Jan 4, 2016.

  1. david14beck

    david14beck
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    I have met a lot of people who want to sell their house, but why do they choose a Realtor? Why do they spend money on Realtor commissions? There are lots of investors will buy a house directly from the sellers. Then why do they waste money on advertising, or Realtor commissions?
     
  2. Ultracab

    Ultracab
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    There are several reasons to select the realtor for sell any properties. It’s important to treat any properties as a product. It will not sell itself, so you need to spend a little bit of time and effort to make it more appealing. If you sell your any properties quickly, In this situation you need to hire a right realtor.
    For more information, check the following link
    http://www.wikihow.com/Choose-a-Realtor-to-Sell-Your-House
     
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  3. skpbearings

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    There are numerous reasons to choose the realtor. Agent is a critical part of the selling process. When you select an agent, you’re performing a rigorous job interview for a prized position. The most important conversation you will have with your agent is about the price of your home.

    Here, some essential points for your question.
    • Ability to meet your actual requirements
    • Widely Knowledge of the area in which you’re selling your property
     
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  4. Christiano Ferraro

    Christiano Ferraro
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    How people make decisions in this circumstance can be attributed primarily to two things:

    1) Situational circumstances - Such as needing to sell within a certain time
    2) Perceived skill gap - Don't feel comfortable selling a house themselves.

    For some, addressing either of these circumstances justifies the cost - one of a variety of pain points associated with any purchasing decision.
     
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  5. Business Attorney

    Business Attorney
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    Others have already pointed out many of the key factors. I would point out two more:

    1. Access to the Realtor Multiple Listing Service. Even though there are other avenues to advertising the availability of a home for sale by owner (FSBO), the traditional MLS still gets a lot of exposure.

    2. Access to cooperating brokers and their clients. A lot of buyers still look to the assistance of their own selected broker to help them in their hunt for a new home. Since cooperating brokers typically are paid a portion of the fee paid by the seller to the listing broker, if the home is FSBO, their is often no mechanism for paying the buyer's broker. If the buyer's broker doesn't see an opportunity to earn a commission, he or she has no incentive to show your home to the prospective buyer.
     
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  6. Lara Johan

    Lara Johan
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    There are various reasons why people choose realtors. A realtor can help you find the best location for you to live in. If you are looking to sell or buy a house then a realtor will help you to sell or buy it at an affordable cost.
     
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  7. AbdulRazak

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    It is always better and definitely easier to sell a house using the services of a realtor. They understand the market better and can get you a better deal on your house. Of course, there is a fee involved but if you consult a professional real estate agency, there are no hidden costs involved.
     
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    #7 AbdulRazak, Jun 2, 2017
    Last edited by a moderator: Jun 2, 2017
  8. ScottAdlhoch

    ScottAdlhoch
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    Because a realtor will provide the best value for your house in the marking and they have better links in the market..
     
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  9. Indesh Aryan

    Indesh Aryan
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    Mainly, it save their time and efforts, otherwise it's difficult to search a buyer along with your daily work routine. As well as you don't need to repair your house if your are selling it to a realtor.
     
  10. Orpheus

    Orpheus
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    I really dont understand this myself. Some time ago realtors were needed cause people had no access to all the needed information. But nowadays all the information is clearly visible via internet, and it is really easy to set your own ad. Some people just dont want to bother I guess,
     
  11. Have you used offrs?

    Have you used offrs?
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    This is a good question to have going into it and the fact that you're asking it rather than jumping to a set conclusion is wise. It really is your call, but a REALTOR® (National Association of REALTORS®) or a real estate agent (there's a difference in association and training in some cases) is most valuable in making a transaction run smoothly and on track with your timeline.

    Like most professional services, it comes down to what you already know, the task at hand and even luck with regard to finding the right sellers/buyers. Note that we are in the real estate support business, so we are biased about going with a pro, but I can list out some points to consider in your decision. Be sure to ask some FSBO (For Sale By Owner) friends about the alternative to get all sides of this question:

    • Starting with access to data, agents will spend a lot of time and money before, during and after your transaction (hundreds to thousands of dollars each month) to study the market - nationally, regionally and down to the neighborhood level. And likely have been for years, if not decades. Great agents will already know your home by heart before having even met you. They'll know your neighborhood history, trends, selling points and areas and terms you'll want to avoid highlighting. Like a stock advisor, they can provide a historical perspective from the top-down that gives you a strong advantage in this major, singular transaction (versus going solo).

    • Marketing-wise, an agent know your demographic buyer/seller and will bundle your home into a sellable story. Of course, some home buyers/sellers will buy or sell on sight (crosscourt, game-winning, three-point buzzer shots do happen), but getting the dots to connect is the task at hand. It's so true that the internet has made learning transactional trades accessible, but unless you know here and now how to market a yacht, a gulf stream jet or pair of Tesla Model X's right now, then there's a solid chance that you may not be fully ready to market a $350k home (if you don't know right now, then you're not up to speed right now... and what's the learning curve going to be - can you afford to get it wrong). This isn't to say one can't learn the trade - obviously, it's doable and many do... it's more of a question if you know how from the gate (you likely don't want this process to go on for more than a few months). In fact, without going into detail here on this point, you'll lose equity claim with the longer your home sits unsold. It's not just social media, a craigslist ad and signs. This is what they show on TV and it doesn't discuss the long hours, lost weekends and endless, endless rejection and lost work nurturing Saturday morning tire kickers. Let the expert filter your leads - they train to read the signs ahead of time.

    • When it comes to resources, agents will know where to go and what to put weight into. Yes, there's their roladex and that goes without saying (nor should that be undersold), but there's an entire undercurrent of prospective buyers and sellers that exists across networks. You don't often see it, but your agent is always negotiating back-room lead swaps from other agents in their network. You see their sign in the front lawn, but you're not hearing the calls made across the country and around the world where your agent is trading leads. Job transfers from out of state, retirees exploring the area, significant life changes in families such as deaths, etc. - it's the conversations in the background that can align two perfect transaction points.

    • That comes to negotiation. Agents train to negotiate on several battlefronts. First, they train to get people that don't want to get out of their cars into your home (for example). Then they train to get people who like what they see to come back again, and again, and again (they do the grunt work that most humans don't want to do... chase "I'll be backs"). Then they train to find common ground on the pricing (hardline won't get your home sold and undercutting your listing price won't work for you). Getting it done at a fair price and within a doable timeframe - that's what they train for day and night. Again, anyone can do this... but how much could you have gotten had you brought in a pro negotiator/negotiation team? Then there are contracts... listing price isn't everything. There is a world of fine-print that can (and often does) kill dream transactions. Could you imagine buying or selling a $400k business without reading through all 200 pages of fine-print and legalese without a lawyer to review if someone's trying to pull something on you? Can you do it, yes... it's just a gamble (with hundreds of thousands on the table).

    • Time, money and effort. There's a reason that many agents use agents (or agent friends) to sell/find their home. Sometimes it's because they're out-of-state and you really need someone there to handle the ins and outs. But often times, it just boils down to time, money and effort. Some are okay painting their home, others calculate their time, money and the possibility of doing it wrong (costing time, effort and money) and go with a pro. Calculate how much your time is worth per hour and ask yourself, are you ready to put in 2-10 hours per day, every day for the next few months? If you do something wrong (anywhere along the way), how much will that cost you in this singular life transaction? Keep in mind that when we talk about effort, we're also talking about "spirit." Many FSBO's overlook the emotional stress a major life transaction not transacting can cause on a family. If you win, you win, but if you lose, it can be unduely hard.

    Again, we're biased (naturally), and yes, there are bad agents. It's sad to say, but some agents simply bank on their team or are just new to the trade and haven't yet found their pace. So you have to do your research and interview agents. Review their past transactions in the area (dates, list/transaction price, referrals and so on). Check it out for yourself. Make sure your agent hasn't been involved in any scam transactions (look for results). Look at DOM (Days On Market) and ROI loss ratios. Many FSBOs end up getting an agent in the end... why? Most say they're up for it, then after the first couple of weeks with dropped interest, they start to wane. But how much did that market listing with no transaction cost them? Like a company going public and nobody noticing during those important first days, it can cost your investment all the way down the road.

    Good luck out there. If you end up doing it yourself, please let us know how it goes, we'd love to hear (FSBO works!)... it's just a question of how much you're (really) going to end up working it.
     
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  12. zomgmike

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    d-d-d-d-d-d-d-d-d-d deleted my detailed response to your question. Joey-hot-hand, the moderator, has turned me off to this forum. I'm deleting my content and then i'm out!
     
    #12 zomgmike, Feb 19, 2018
    Last edited: Feb 21, 2018

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