What’s the Value of
Working with A REALTOR? This article
recently came out in REM Magazine...
Numerous surveys have
shown that many home buyers and sellers are unaware of the true value a Realtor
provides. On the flip side, many Realtors assume that their hard work and
expertise are a given. Since much of what Realtors do is unseen by clients,
there is a disconnect between the two groups in many cases.
Nancy Deakin, broker and
co-owner of Deakin Realty in Pointe-Claire, Que., feels that if someone is
dead-set against using a Realtor, sometimes it is better to wish them well and
send them on their way after you make it clear you are available if they are in
need of a professional. As for how to handle a client who had negative
experiences with Realtors in the past, “First we would listen to their story.
Then we would explain the process carefully along with the services we offer
and use examples to show how our experience and network will give the client
the best possible outcome selling their home. Listening to the client’s needs
also allows us to respond to any concerns and to reinforce the positive aspects
of having a Realtor protect their interests. Explaining the difficulties others
have encountered allows us to show them that this is not a walk in the park.”
Jennifer Pinarski is a
pro-Realtor convert. She and her husband sold their first home in Winnipeg in
2005 without a Realtor. “We chose ComFree believing that we’d save a lot of
money. I was a marketer at the time and thought it would be a breeze. We were
well over our heads. We had no idea how to price our house and just guessed,
then panicked when it didn’t sell the first week. We dropped the price $20,000.
The showings and open houses were monotonous and it was awful always having to
be on call. Finally our house sold, for I’m sure thousands less than it could
have. Since then we have sold one more and bought one more home (sold in
Winnipeg, bought in Ontario). We used Realtors both times, and consider the commissions
paid to be an investment, not an expense. It was a much more positive
experience.”
According to a U.S.
National Association of Realtors survey, in hindsight 70 per cent of people who
sell their home themselves say they would never do it again and most sellers
net far less than they would have had a Realtor been selling their home.
The complexities of not
using a Realtor can be a huge selling point. Todorovic says, “Ask them if they
have the time. This is a large factor and should not be underestimated. Can
they take time off from work and obligations to show the property? Can they
market their property effectively and efficiently when it relates to cost and
maximum exposure? Do they understand the complex terms in contracts? Can they
handle legal pitfalls that can arise when a messy contract is written, which
could result in a legal nightmare and involve huge expenses to rectify? Do they
know how to pick the market price? Are they aware of the process that is
required in a real estate transaction? Are they comfortable with negotiating
contracts on a face-to-face basis with potential buyers? If the answer to all
of these questions is yes, then best of luck to them. Otherwise, call the best
Realtor in town and get them to do what they do best.”
Gary Bazuik, a sales rep
with Royal LePage Coast Capital Realty in Victoria, says he avoids discussing
being burned by a past experience and focuses on the fact that not all Realtors
are the same. “I explain that nine out of 10 FSBOs eventually list their homes for
frustration or safety reasons. A For Sale sign is an invitation for anyone
passing to enter your home. If you list your home, only qualified buyers will
view your property. Our MLS system had 1.9 billion page views last year alone,
with each visit lasting an average of over 10 minutes. Your strong web presence
will create the exposure you need to maximize value for your home.”
John Deakin, the other
broker and co-owner at Deakin Realty, sums up the issue: “Unfortunately these
stories exist in most businesses. Our concept is very simple – we tell clients
the truth and explain that any advice we give would be the same if we were
seated in their chairs.”
The original article by
Toby Welch of REM Magazine can be found here.