Realtor? It's Your Call

I get several emails a month about picking a Realtor. These questions fall into two categories. First, people want to know if they should use a Realtor. Second, people want to know how to select the Realtor that is right for them. This week I will focus on the first question.

Should I Use a Realtor?
While each deal is unique, it is generally in your best interest to use a Realtor. For home buyers, Realtors can give you information about the property, the neighborhood, and likely changes in value to a home. More importantly, they can give a better idea of how much money to offer on a house. Realtors have a more important role in protecting buyers and negotiating on their behalf. They also have tremendous resources at their disposal, such as mortgage brokers, attorneys, and home inspectors. As a general rule, Realtors work with buyers without compensation. They generally get paid a commission worked out with the seller and the seller's agent. Realtors are also useful to sellers too. The first reason is purely financial. Statistics do vary, but properties that are sold without the help of an agent generally sell for 8% less than properties sold using a Realtor. Realtor commissions vary, but are generally between 4% and 6%. Many individuals try to sell their property on their own now, which is completely a right that they have. However, in an attempt to save money most end up leaving more on the table than a Realtor would have cost. Realtors also have marketing and negotiating experience that net the seller more money in less time. Many people who look to buy exclusively from the home owner is bargain hunting as well. They anticipate getting a good deal at the seller's expense. Realtors can facilitate a deal as well by providing recommendation for painters and insuring that the smoke certificate is completed. 

No matter which side of the deal you are on, having a professional protecting your interests is a good idea, especially with so much money at stake. If you have any real estate related questions feel free to contact me at ryan.guilmartin@gmail.com.