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The Value of Using a Realtor®
We live in a do-it-yourself age. Consumers are increasingly well educated, more hands-on and more likely to "cut out the middleman." In a time when homebuyers can use the Internet to find properties for sale on the other side of the country, prequalify for a loan and learn all about their new location, what value does a Realtor® bring to the transaction? Plenty.According to a recent market research survey of recent and potential homebuyers in Mecklenburg County, nearly nine out of 10 persons surveyed used a Realtor® to buy or sell a home. Most of them found their Realtor® through word of mouth or by having a friend or relative in the business. Others saw a realty sign or were assigned a Realtor® by a relocation firm. Almost 97 percent of those who used a Realtor® said the Realtor® was helpful.
The survey cited buyers' top reasons for using an Realtor®. One of the most important ones was that Realtors® know the market and can save buyers time by finding houses that have the right features and are in the right price range. Buyers also like that Realtors® offer lots of help with paperwork and the process of buying and selling a home.
Realtors® also received high marks for convenience. Buyers recognized that Realtors® have access to homes for sale and can take them through houses, even new construction and houses listed as "for sale by owner." And Realtors® understand the real estate process, so they can reassure buyers and help them get the best value.
That knowledge also enables a Realtor® to explain the mortgage and financing process and refer a buyer to a mortgage lender. Buyers also appreciated that Realtors® could help them figure out how much house they could afford and could prepare a market analysis for them. Sellers believe that Realtors® could help them set a realistic price for their home, show their home and sell it quickly.
The survey also showed homebuyers expect specific services from Realtors®. In addition to the top reasons listed above, 95 percent expect Realtors® to provide community information; 93 percent want advice during negotiations; 89 percent expect the Realtor® to look out for the buyer's best interests; 86 percent want referrals to lenders; 85 percent want advice on inspections; 82 percent want an advocate with builders and lenders and 68 percent want help with paperwork. Services seen as most important were to look out for the buyer's best interests, find houses with the right features/price and research properties. Realtors® received positive reviews for these services. Top descriptions included: polite, friendly, professional, helpful, business-like, hardworking, competent and honest.
Your Realtor® can:
- Save you time
- Help you avoid paying too much
- Speed up your paperwork
- Watch over your transaction to make sure nothing falls through the cracks
- Take the mystery out of buying a home
- Alert you to "good deals" that aren't what they seem
- Protect your interests when you work with builders, lenders and lawyers
- Explain complicated documents
- Help you negotiate a better price
- Help look out for problems with surveys, inspections, mortgages, and construction
- Tell you what similar houses have sold for
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