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Are Realtors Really worth it?


This article comes from https://www.forbes.com/ and has some really good and bad points in it. I like the good so let's look at the bad.

"Real estate is “cool” again. Headline after headline says the market is hot. Reality TV shows portray the profession as sexy — or sleazy, depending on which one you’re watching. New business models and websites are popping up left and right claiming they’re going to make the profession irrelevant. New licensees are flooding the market."

Real estate is all about knowledge of transactions and knowing areas an agent sells in. A lot of new agents go with a team or are part time. 90% of agents fail and do not ever get a career going. The key to being an agent is marketing and getting seasoned in real estate. I have personally been an agent for over 18 years and am learning new ideas on real estate almost daily.

As fat as new business models Zillow created a Zestimate that is almost always totally wrong. Websites cannot tell if you have a new kitchen or a dated one, new paint or harvest gold plastered throughout the home. You have to know these details before you go spitting out a value. 

But a shocking amount of new licensees fail and leave the business within the first two years. Others soft-fail and maintain their license, since it can be very inexpensive — you know, in case Uncle Bob wants to buy or sell a house next year. Only a small percentage will succeed. The 90/10 rule is true in this profession, and in my observation: 10% of real estate agents do 90% of the business."

Go with a seasoned agent that knows what they are doing and understands today's real estate market. We truly earn our money with our knowledge in Real Estate. For example Realtors have off market deals and have a network of people that they can tap to help you. I am currently selling a home with difficult tenants. Knowing how to navigate that issue and selling the home takes a lot of transactions and knowledge. 

"Price is an issue in the absence of value. Consumers who deal with non-practicing agents think the only thing they’re good for is opening doors — and anyone can do that. They don’t understand the value of an agent because they haven’t experienced it. Emerging websites and new business models are attempting to capitalize on that consumer perception."

Today's consumer really thinks that they have as much information as a Realtor does. Simply very untrue, and it can really cost buyers and sellers a ton of money. Agents that assist people that are not using a Realtor are also hurting the industry. I just looked at a home for a client yesterday and could see immediately that the foundation was bad. The bedroom door was crooked and the sub floor was ready to cave in. A trained eye could see that not someone who has bought 3-8 homes could.

"Remember in 2005 when all you needed to qualify for a mortgage was a heartbeat? That didn’t end well. Our industry has created this problem and it needs to fix it — and quickly, before somebody else does."

Realtors never ever made the Mortgage rules and still do not today. The feds make all the rules and we live by them. Try to get a loan in today's banks? The feds created rules and regulations that the mortgage industry has to live by. Realtors find homes and work with mortgage companies to make sure clients qualify for a loan. A for sale by the owner called me that just lost their sale because the buyers could not get the mortgage. No Realtors there. 

Next time you need real estate, get a Realtor that knows the industry and works it full time. Also see the transactions they have done. Getting the right Real Estate agent can save both time and money!

I'm Brett and I have done over 1000+ transactions and would love to help you in your real estate search. 

Call 216-703-5740 Fathom Realty or Whatsapp Me

Now I need to finish up my continuing education classes that are required to keep your real estate license.

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