“The best way to find yourself is to lose yourself in the service of others.”
-Mahatma Gandhi
Do Realtors deserve a commission?
Is there value in working with a Realtor?
Does working with a Realtor really benefit me?
If you’ve asked yourself any of these questions, the answer is yes. Choosing to work with a trusted and qualified Realtor when buying or selling a home is one of the wisest decisions you can make. I say, if you have a bad taste in your mouth for real estate agents because you had a bad previous experience, you didn’t select one of the good ones. Think about when you need an attorney to represent you, you make sure you find one that will advocate for you well – right?
So, why exactly are Realtors worth their commissions? Let me break it down:
Trade exclusive memberships and tools.
Our membership with our local, state, and national boards, (KCRAR, MREC, & NAR) allows us access to our local MLS database. The MLS provides us with the most recent and accurate data from home listings. For sellers this allows maximum exposure to bring you qualified buyers. For buyers this refines and filters the home search process for you. Some of these invaluable tools help us accurately find home values by pulling local data from public records (we really don’t pull that number out of our bums, it’s a calculated equation based on recently recorded comparative data). Once you finish up here, check out another blog [An Inside Look at a Realtor’s Toolbox.]
Required Education and adhere to a comprehensive Code of Ethics
Missouri licensees are required to complete 12 hours of continuing education every 24 months. This includes 9 hours of elective credit and a minimum of 3 hours to be in a core topic. To be eligible for the 2024 license renewal, a required core course must be taken in Fair Housing (which I’m so grateful we have Fair Housing here in the United States).
Walking encyclopedias of their local markets.
Quality Realtors follow neighborhood trends, price changes, and comparable data. Don’t underestimate a Realtor’s market mastery. Pro tip: When choosing a Realtor, look for the Realtor who specializes in the area you’re wanting to buy or sell in – not your friends’ cousin’s real estate agent step-parent from three sub cities over.
Negotiation masters, making sure the deal is fair and no money is left on the table.
With our exclusive trade tools and specialized market experience, Realtors provide negotiation insights that will help guide and empower your big decisions. Like when to write, accept, counter, or reject an offer to get you the optimal price and terms you’re looking for. Look for Realtors who are RENE (Real Estate Negotiation Expert) certified.
Experts in perplexing documents like contracts and supplements.
No two deals are ever the exact same, some require different amendments and/or supplements. It’s important that your Realtor knows which ones to use and when, understands them, fills them out entirely and correctly, and can translate the forms for your comprehension. Realtors are also responsible for document routing to all parties without letting anything slip through the cracks. Pro Tip: I hire a Transaction Coordinator to ensure this part of my business process is flawless (chef’s kiss).
Time is of the essence, and real estate transactions devour time.
Realtors return you hours by handling the endless details – forms, marketing, showings, opens, communication with all involved parties, inspections, closing, key exchange, etc. – so you can live life and focus on packing. Pro Tip: Make sure your Realtor is diligent and has the time to serve you properly. If your Realtor is too busy for you, then they are too busy for you – fire them and hire a Realtor who isn’t.
Insurance and wisdom gained from experience to mitigate legal risks.
We help clients avoid lawsuits, disclosures issues, fraud, etc. Not to mention, the literal insurance Realtors are required to carry – E&O insurance. Another form of priceless protection at no extra charge to you.
When it comes to marketing – Realtors are worth their weight in gold.
I’ve done a blog breaking this down. After you’ve finished reading this one, jump over to [When it comes to Marketing Realtors are Worth Their Weight in Gold].
Cultivated networks of trusted lenders, title companies, inspectors, contractors, and trade specialists.
Lean on your Realtor’s vetted and trusted quality dream team to get it done. If you believe you are who you surround yourself with, check out this blog about the psychology of [Why Choosing the Right Realtor For You Matters More Than You Think].
Emotional support – not even kidding.
Emotions run amok during home sales and some things are truly unpredictable. Exceptional Realtors can stay objective and rational to ground the chaos with calm logic and strategy. We keep the deal moving steadily through the difficult moments with effective solutions. This is why I say [Choosing the Right Realtor For You Matters More Than You Think]. Personality and moral alignment can make or break your real estate experience.
Offer professional industry consultative services.
Such as: helping seniors downsize, executors handle estate sales, first time home buyer education, home selling preparation and staging advice, builders’ market new construction, relocation services, investment property strategies, court ordered divorce listings and more.
You don’t have to hire a CPA to help with your taxes. You don’t have to hire an attorney to represent you in court. You don’t have to hire a tradesperson to fix it for you. You don’t have to hire a Realtor to protect you, advocate for you, and guide you through a real estate transaction. But there is value in hiring professionals who have expertise and experience in their life’s career.
So next time you’re doubting whether to work with a Realtor, remember their value stretches far beyond just a commission. In many ways, they are your real estate guardian angels! If you don’t like Realtors, it’s because you haven’t met a good one yet!
Plus, when is the last time your CPA, attorney, or doctor gave you a gift for choosing to work with them?
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