Friends with Benefits…

We’ve all heard the term “friends with benefits” right? I want to say right off the bat that this post is not going where you might think it is, so go ahead and get your mind outta that gutter! For the sake of this post, the term “benefits” refers to what you have to gain by working with an agent when buying or selling your property.

Also let me just say this…There really isn’t any reason you cannot become friends with your agent! As a matter of fact, you totally should. When you become friends with someone, that means you feel comfortable around them, you trust their opinion, you know they have your back and you know you can talk to them openly and freely. That is exactly who you want on your side when buying or selling real estate!

So since we are already friends here, let’s talk about those benefits!

So Wikipedia casually lists “benefits” as “incentives” and had this to say…. An incentive is something that motivates or drives one to do something or behave in a certain way. I can work with that!

It seems that a generous amount of people feel that it will cost them more to enlist the help and expertise of a Real Estate Agent. I’m here to show you that it is, in fact, quite the opposite.

VS

So we all know there are two sides in real estate…. buying and selling… (duh, obvious right?). I merely pointed that out because….well it’s just a good segue to discussing the benefits of working with an agent on both sides.

When buying real estate, there is more to navigate than just skimming the internet for “the one”, tossing out an offer, celebrating when it’s accepted and then showing up to sign papers and collect the keys. There is A LOT more and having an agent who knows how to navigate all of that is worth its weight in gold. Here are the nuggets to that gold:

A Better Deal - Who doesn’t like a better deal?!! Agents know the market. We know when a property is over priced, priced too low or priced just right for the neighborhood that it’s in. Hhhmm…that reminds me of a story! As an agent, we want to see you reap the financial benefits of being a homeowner so making sure you pay a fair price is important to us.
A Time Saver - What?…..you mean having an agent can save me time?! Heck yeah! Sitting down to your computer searching thru all of those online home sale sites can take you thru multiple bags of chips, beverages and hours. Once your agent knows the specifics that you are looking for, we can do the weeding for you by highlighting only the listings that best match your criteria. It’s like your own personal match maker, but for homes!
A Secret Weapon - I mean, we really could be classified as super hero’s with a secret weapon like the MLS. The MLS is a multiple listing service, and it is the most effective communication tool in the real estate business. The MLS is only accessible by licensed agents and it is not the same thing as the online home search tools. Those online search sites do not always contain all of the available listings, which can hurt your search. The MLS is a powerful tool in the hands of an agent.
A Network - Most all businesses have a network…a line of communication among professionals in the business. But did you know that professional network among real estate agents is unlike any other in the business world? Yep, we consistently interacting with other agents about properties that are already listed and any upcoming listings. Having this network can give us a jump on what is available in a competitive market, thus giving our clients a jump.
The E’s Have it - Ethics and Expertise. It’s a lot like how doctors take the Hippocratic Oath and lawyers are sworn to a Code of Ethics. Realtors voluntarily hold themselves to a higher standard. We are professional fiduciaries guided by principals, responsibilities and a code of ethics that prioritizes our clients while preserving the dignity and respect for the profession. Our expertise is in the duties of locating properties that meet needs. knowing building codes, pricing and valuation, writing binding contracts and the coordination for a smooth closing.
Six Degrees of Separation - This idea proposes that all people are six or fewer social connections away from each other. The same can be said for a Realtor. A real estate deal has many interworking factors that are often held together by one single point…the agent. An agent isn’t done after the client’s offer is accepted. Oh no, we are talking to the lender, the lawyer, the inspectors, the other agents in the deal and all the while keeping our client informed of what step the process is in. Your agent is constantly making sure everyone else is doing their job in a timely manner so that everything runs smoothly and should there be a hiccup, the agent is the first one to dig in and figure out how to solve the issue.
Nothing to Lose - As a buyer, you have nothing to lose by working with an agent. There are no fees for hiring an agent to help you find the property of your dreams. Your agent is most likely an independent contractor, meaning they don’t get paid until the deal closes, so if that isn’t motivation to help you, then what would be.

When you look at all of these nuggets, it’s kind of a no brainer that you only stand to benefit from the help and resources that working with an agent will bring. Who doesn’t like gold nuggets?

Typically, the research tells us, that a high quality real estate agent that really knows what they are doing will add more to the equation than they cost. Because people make mistakes when selling their own home – the mistakes are costly… –Dave Ramsey

Selling real estate has its own complexities. FSBO….or For Sale By Owner….sticking a for sale sign in your yard and marketing it on those FSBO sites with the dream of handing over the keys to the best offer that knocks on the door isn’t reality. If you want to make sure that you really get the best deal, that you are protected in the sale and that you reach the largest audience possible, then working with an agent is your best bet. Sure, you will pay that listing agent a commission, however it will be the best money ever spent and here’s why:

Mo’ Money - A lot of people seem to think that they can make more by selling on their own. The prospect of not paying the commission for an agent is appealing, but not a good idea. Studies show that FSBO’s sell their homes for about 5.5-6% less than having sold it through an agent. That’s a lot of money. Sure you could argue that “well if I’m paying 6% commission, it’s the same thing” but again, you aren’t just simply trading your keys for cash. Keep reading to see what why that commission is worth it!
A Secret Weapon - Look familiar? Nope, it’s not a typo or glitch. That MLS (multiple listing service) is a weapon on both buying and selling sides. There is someone out there who is looking for a home just like yours and most likely they are working with an agent. Again, only agents can access the MLS and it’s the first place we go when starting a search for our buying clients. When your property is entered into the MLS, it’s actively marketed to thousand of agents AND it’s automatically syndicated on third party sites such as Realtor.com and Zillow.
We Got Skills - The list is endless, but to name a few that work to your advantage are things like market knowledge…agents have an understanding of the sales in your neighborhood and are able to conduct a detailed market analysis of the comparable homes in your area. Another skill you’ll want to benefit from is that agents are professional negotiators and we know how to navigate those negotiations on your behalf to get you the best deal. Perhaps the most important skill set that should matter to you is that we are fiduciaries, meaning our clients come first and our responsibility to you is of the utmost importance to us.
Protection - It’s like having your own personal bodyguard. If you list your home on your own, be ready for the headaches that come with it like non-stop phone calls, emails, ringing doorbells, etc. I know, you’re saying “but that’s a good thing right?” and yes, while it is a good thing, it is also a hassle. Who has time to answer all of those calls and emails while trying to work, take care of the kids and keep the house presentable? You’ll be directly responsible for dealing with things like disclosures, inspections, negotiations, and don’t forget about the contract. Are you sure you’ve done it correctly and are protected from possible liabilities? If you use an agent to help sell your home, you can forget about all of those headaches! The only phone calls and emails will be from that agent because the other agents, nosey neighbors and potential buyers must go through them. That agent guides you through all of the paperwork and knows how to make sure it’s done correctly so that you are protected. Sneak back up to the ‘buying’ portion of this post…..take another pass at the “six degrees of separation” nugget. See that? It applies here too. We got you!

You really have nothing to lose by working with an agent, but boy do you have everything to gain! The expertise, network, skills, responsibility and myriad of other benefits that you get from having a trusted agent by your side is immeasurable.

Uncle SCAM Wants You….

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