Many people don’t understand what a REALTOR does every day. Many REALTORS don’t understand it. First, no two days are the same. Parts of the day are spent marketing for new business. Parts of the day are spent working with new clients. Another piece of the day usually goes to following up with recent clients. Research can take up a great deal of the day. There’s showing property and counseling. The most time consuming portion of our work is usually taking care of the business we already have. In other words, getting the contract thru closing.
Yes, a REALTOR really earns their fee AFTER the offer is written. A REALTOR negotiates on behalf of and with their client. Once a sales contract is in place the REALTOR begins scheduling inspections, appraisals, escrow, closing and anything else required for this transaction. In addition, the REALTOR works with each of these service providers on behalf of the client. Imagine that you are a service provider with the title company, appraisers office, etc. Will you want to do well and work hard for someone who brings you multiple transactions throughout the year and understands the system? Or, will you drop everything for the person who doesn’t really understand the details and you probably won’t see again for 3-7 years if at all?
As a buyer who purchases property on less than a daily basis, are you familiar with all of the lenders and the different loan programs offered by each? Yes, different lenders can offer different types of loans. Generally, their programs must fall within the federal guidelines. If not, the lender won’t be able to sell the note in the secondary market.
As a seller, wouldn’t it be great if you had someone who knew these things to advise you on if the buyer might be able to perform under the conditions of the contract? Do you know what to ask for? Are you comfortable asking a stranger about their financial situation and credit history? Will you believe what they tell you?
Obviously, not all REALTORS are created equally. You should interview REALTORS that are recommended to you by people you trust. Do business with someone who speaks to you respectfully and in terms that you understand. Choosing a REALTOR is an important step. Choose someone who you are comfortable with that has experience and knowledge in real estate.
Good luck!
leighyork 