Buying or selling a home is a huge life event. For this reason, take the time to hire the right counsel for the job. Realtors play a critical role in the transaction, ideally maximizing your opportunities in the market while minimizing your risks.
Consider what the consumer is asking of the Realtor. Realtors must predict a future event; that is, determine at what value to price a home to attract the optimum sales price and terms, in a timely manner. They must understand how to uniquely showcase a home in a marketplace of buyers with increasingly transient attention. And Realtors must be ready to act on behalf of the buyer or seller with a high level of confidentiality and discretion. The best real estate agent has mastered the skills of marketing analytics, product promotion and client advocacy. Because of the significant role the Realtor will play in your purchase or sale, your choice of Realtors is a critical decision.
Realtors as forecasters
A skilled Realtor recognizes that pricing a home is nothing like ‘blue-booking’ a car. It is not enough to know the number of bedrooms and baths, square footage and location. The Realtor’s forecast should account for the viability of the floor plan, as well as the quality and condition of the surfaces, fixtures and appliances.
Successful home pricing begins with understanding the demand in the marketplace for the benefits a home offers to buyers. During my initial walk-through of a home, I discern which lifestyles the home’s features and floor plan would enhance. This allows me to discover who the most likely buyer will be.
The research that follows my home visit involves analysis of seasonal sales trends of similar homes over the past several years, the most recent sales of similar homes, and a careful review of other homes currently for sale that may attract the same buyers. Your Realtor should be ready to dig in to the details to forecast the right list price for your home.
Realtors as marketers
In addition to pricing a home, Realtors must make sure that buyers are aware of the home. Today’s mobile marketplace challenges even the most competent marketers and advertisers. Consumers searching for homes for sale online can glance at a home and immediately (and if on a phone, literally) swipe it off their radar. Great Realtors understand the importance of on-screen staying-power and have mastered the presentation of homes online. Your Realtor should have a firm understanding of current marketing tools, successful mobile marketing trends and your target consumers’ buying habits.
Realtors as fiduciary advocates
Furthermore, and perhaps most important of all, Realtors are hired into a fiduciary advocacy relationship with the buyer or seller. A licensed real estate agent is responsible for maintaining a voluntary legal relationship in which the agent agrees to act on behalf of the buyer or seller. This requires a high level of confidentiality and discretion. The Realtor will represent you in your absence, only doing what you’ve instructed them to do and share. For such a significant transaction, it is critical that you partner with a Realtor who you trust to guide you through the process.
Making the right choice
As a long-time Realtor in this community, I welcome the evolution of our industry. Realtors have progressed beyond the role of taxi driver and ‘holder of the keys.’ Whether it’s in analyzing market statistics to check the direction of home pricing trends or in the promotion of a home’s best performing features to “stop the swipe” on mobile listings, I recognize that my job is to approach each home from a unique, informed perspective. This way I may help my clients get the best return on their home investment and the right home for their lifestyle. I encourage you to interview for professional counsel when you’re ready to buy and sell smart in real estate.
Contact
If you have any questions about buying or selling smart, or if you’d like to interview me regarding my real estate services in Lane County, please contact me.