Even a brand-new agent quickly realizes that a large number of people simply have no idea what is entailed in the job of a REALTOR®. So what exactly does your real estate agent do? Aside from the obvious and visible, here are 5 jobs your realtor® takes responsibility for when you hire them on:
#1. We play the role of a party planner. Only in this case, the party is your closing, and the guests are people you may not even know exist until you need them.
Getting an accepted offer on a house is just the first in a line of processes that need to happen in order to transfer clear title and take possession of a new home. Even if you know all of the right players, it’s time-consuming to coordinate all of the parties to ensure an on-time closing. If you’ve ever helped to plan a wedding, you can appreciate how valuable it can be to let someone else handle the details.
#2. We pay for access. A lot of buying and selling is predicated on who you know. Realtors®, by name, must belong to local, regional, state-wide and/or national organizations that bring the right people together to make a sale (this does not apply to those who practice real estate sales but are not REALTORS®).
A significant chunk of my week is spent attending sales meetings and speaking with other agents to ensure that I am up-to-date on who has active buyers looking for specific types of property. So when you are ready to sell your 3 bedroom condo in a prime location, I know exactly who to call before it even hits the market.
#3. We are experts in navigating the sometimes murky waters of local, state and national regulations. While we are by no means legal experts, and will not give legal advice, we are well-versed in spotting and addressing areas that could have potential for litigation. If something seems off, we’ll recognize that and call in the experts who can help clear the waters.
Here in Montana, we are required by the state to keep ourselves up to date on laws governing the sale of real estate through our initial training as well as annual continuing education. And a good thing too, because lawsuits surrounding real estate sales can be costly and time-consuming. As your sales representative, we are taking that risk onto ourselves with each transaction.
#4. We make ourselves neighborhood authorities. Not only do we spend significant time looking at newly listed properties each week, but we take the time to speak with people in each neighborhood to understand the ups and downs of a particular area.
All of this comes into play for the seller when we put together our estimate of value for your home. You can bet that we know exactly how much other homes in the area have sold for, and what your competition looks like.
For the buyer, you can take comfort in the fact that your agent will help point out any important information so that the neighborhood you buy into will prove to be a good fit. Additionally, you’ll know whether the home you fell in love with is priced well, and your agent can point out little and big things that will affect your resale value down the road.
#5. Above all else, we are customer service specialists. We work hard to take the stress and worry out of a complex and time-consuming process. We’re your buffer against dealing with lookey-lou’s and getting spammy calls and emails, and we are your right hand when you can’t be in two places at once and need a little help.
We have a fiduciary responsibility to our clients, meaning we place your best interests first and foremost in any and all transactions. To properly do so, it is necessary to dedicate ourselves to knowing all of the best people in the industry to get jobs done quickly and efficiently, networking with other realtors to bring the right parties together, understanding where problems may be hidden and bringing them to light before closing, thoroughly understanding both the market and what attracts or repels potential buyers, and especially, to look for ways to add value to the process with every step.
So the next time you stop into an open house, you’ll realize that those homemade treats provided are one very tiny fraction of the ways a REALTOR® works to make life better for their clients and their community.