I am tagging on an article from a great blog, KMC, commenting on a recent New York Times article. You Don’t Have To Pay It discusses whether in today’s market, it makes sense to pay a 6% commission to a real estate agent. Or, in other words, can Clark Kent do the job, or does one need to holler for Superman?
The eternal debate goes on regarding the value of an agent’s work… In support of getting paid for my work, I concur with KMC’s analysis that in today’s market, most people need an agent for two reasons:
1) Unfortunately, today’s real estate is ‘loaded with land mines,’ and you need an expert to guide you through it safely. The real estate landscape has been in flux regarding fair market valuations, lending standards, loan programs and short sales. And the rules keep changing.
2) You need a skilled negotiator. Today’s sales have the potential of three major negotiation stages, making the adage, ‘It ain’t over ’til it’s over,’ ring very true.
I would add one more value for using a real estate agent when selling a home: in today’s uncertainty, sellers need a lot of marketing especially on the internet. Managing that piece as well as hosting an aggressive number of Open Houses and then following up with interested parties takes a lotta-lotta time plus experienced people skills.
Most sellers with their already overcrowded lives of family, work-work-work-and-more-work, school, Little League, etc., really don’t have the time to do this – plus, getting up to speed about how to do it wastes valuable time in the sale of a home. By the time most sellers would be able to get on top of the process, their listing would be ‘old’ which decreases sale-ability.
We believe that famous sayings become famous because they are true. You get what you pay for. Just like a good accountant or a good attorney, a good agent will save you money… not cost you money.