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Let's say you've decided to remodel. Although you may be somewhat
handy, you know you're better off hiring an expert, someone who
knows the ins and outs, who's familiar with regulations and red
tape. After all, why take a risk and go it alone when this little
venture may drain your checkbook of a few thousand dollars?
Now consider a home sale transaction. In this case, a buyer or
seller may have many reasons for involving a professional. Given
the sizeable monetary outlay-possibly the single largest financial
transaction in a person's lifetime-it seems reasonable, even smart,
to call in a specialist. Not surprisingly, most Americans do. According
to the National Association of REALTORS¨ (2000 NAR Profile of
Home Buyers and Sellers), close to 4 out of 5 existing homes in
the U.S. have been entrusted to real estate professionals.
What can real estate professionals do for you? Sales associates
have evolved from being singularly focused on the purchase or sale
of a property to being multifaceted and hands-on, where they typically
provide countless services to ensure clients a painless transaction.
For example, a sales associate may introduce buyers to new neighbors
and assist with registering children at school. A relocation specialist
may act as a single point of contact to coordinate all aspects of
the move, provide a relocation kit as well as personalized relocation
counseling, arrange and lead an area orientation tour, and more,
depending on client need.
Sales associates rely on specialized knowledge and experience to
move easily in and out of these various roles during a single transaction:
- Marketing Manager - To position a home to sell
quickly and at a profit, a comprehensive marketing strategy needs
to be developed. Successful strategies generally include sharing
information through the local multiple listing service, promoting
the home to other sales associates, placing ads, featuring the
home on the broker's website, developing fact sheets, installing
a yard sign, and planning and conducting open houses. A sales
associate can handle calls, schedule appointments and show the
home for you.
- Transaction Coordinator - As a single point
of contact, a sales associate can manage the entire transaction
including coordinating inspections, keeping in touch with the
other agent, managing the documentation for the loan process or
following up on the progress of the buyer's loan, monitoring deadlines
associated with contingencies, providing applicable paperwork,
estimating closing costs, and helping prepare for a smooth and
uneventful closing.
- Community Consultant - A sales associate can
be a great resource, especially to homebuyers relocating from
other communities. He or she knows the local area including home
values, taxes, utility costs, and school data, and may even be
knowledgeable about resources pertaining to your special interests
or needs. For instance, should you require help relocating an
aging parent with you, your sales associate may be able to direct
you to local services or organizations for the elderly.
- Property Specialist - A sales associate can
assist buyers with identifying houses that meet their needs and
provide objective information about each property. For sellers,
a sales associate can determine a realistic selling price based
on comparable sales, local market conditions and motivation to
sell in addition to advising sellers on how to prepare the property
to be shown.
- Skilled Negotiator - Buyers and sellers benefit
from working with a strong advocate during the negotiating process.
A sales associate can help you objectively evaluate an offer then
work to negotiate a favorable contract. During the process, he
or she will review the contract and obligations before you sign,
explain how contingencies and release clauses work, and so on.
- Trusted Advisor - A sales associate can familiarize
you with the processes involved in buying or selling a home, alert
you to potential risks, help you determine how much house you
can afford, explain alternative financing strategies, as well
as provide tremendous moral support.
Get Full Value with a Full Time Real Estate Professional Your home
is probably your largest and most treasured asset. Buying and selling
homes involves complicated transactions, careful marketing, skillful
negotiating and a professional who will network effectively on your
behalf.
Among the many changes in recent years that demand significant
time from a real estate professional are the innovations made possible
by the Internet. A savvy real estate professional today knows how-to
find and market homes online and on the Internet using a variety
of techniques. Not all of these are obvious to the average Internet
user and some, such as area multiple listing service systems, remain
exclusively available to real estate professionals. New websites
are born everyday and old ones go away. Keeping up with these changes
could keep an entire team of professionals busy, let alone a part-time
real estate sales professional.
Changes in real estate marketing require a skillful professional
as well. The advances in desktop publishing and four-color printing
technology mean a wider variety of low cost and highly targeted
print advertising vehicles are available to the real estate professional
seeking to attract buyers and sellers on your behalf. When you list
your home with a real estate professional, you want to know that
they have the time to access the latest in direct marketing technology
on your behalf. Not that your real estate professional creates the
ads or sends all the letters that promote your property, but a cost-effective
marketing campaign requires a knowledgeable decision-maker to choose
the best tools from among the myriad of marketing vehicles and technologies
available today.
One of the key functions of a real estate professional is to bring
buyers and sellers together. While a local multiple listing service
provides a real estate professional with a guide to properties currently
on the market, the raw data is only the beginning of the process
of putting buyers and sellers together. A real estate professional
must spend a good deal of time becoming knowledgeable on the communities
and neighborhoods served, developing resources to answer questions
about area schools, taxes, recreational amenities and other issues.
In addition, your real estate professional should spend countless
hours on home tours becoming intimately familiar with the details
of available properties. Peer-to-peer networking among real estate
professionals is a key source of the buyers and sellers that are
matched together and a key to knowing about properties before they
even go on the market.
Buyers seeking highly attractive properties can lose out on a real
estate opportunity in a matter of hours if their property search
is handled haphazardly. Sellers hoping to attract a buyer would
be disappointed to know that a potential buyer saw another home
before theirs simply because their real estate professional was
unable to show the home at a convenient time.
One of the most critical roles played by your real estate professional
is in the negotiation phase. Negotiations over the terms of a home
purchase contract can be extremely sensitive. A real estate professional
needs to be available to respond quickly and turnaround offers and
counteroffers at any time.
A real estate professional stands ready to deliver full
value in response to your home buying and selling needs.
Professional Assitance:
- Daily Communication
- Coordination of Appraisals, Inspections, Walk-throughs
and Closing Details
- Document Compliance
- Qualified Escrow Assistance
- Extended Coverage Title Company
Alex Kybal,
StarBanc Properties
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