Why is representation so important in a real estate transaction?
A recent newspaper article spoke of technology as taking over the need for Realtors. It compared Realtors to travel agents or shopping online. Technology can give you stats, address, taxes, square footage, etc., but that is all! It does not negotiate, strategize your inspections, give lender expertise and close the deal. Imagine if just finding a buyer was all a homeowner needed to do? It is a proven fact that most homes are sold and sold for more money using an agent. There are always trust factors and the critical issue of estimating the right price to ask!
Technology also makes huge mistakes. A home on a less desirable lot, or with a wet basement can appear to have the same selling value as a beautiful home where location and condition set the stage for the sale to happen.
Even getting pre-approved for a mortgage online is not accurate! The buyer and the seller suffer when there is no consultation.
A Realtor’s job is priceless. No one saves money when estimating potential costs, that is what technology does. Meanwhile a buyer comes to buy with an agent, and the seller has no representation because he listed with an internet company who just puts his information online. Here, only one side has strategy and knows the complexity of the whole deal. Realtors spend months coordinating the entire transaction - the perfect fit between buyer and seller, the sweet spot where the fairness is defined and the appraiser is right on the money. This expertise will never be replaced by technology.
Tools like proper disclosures and preparation of the listing give a homeowner a time to shine! Realtors accept the responsibility of the business at hand. Marketing one’s home is now the utmost specialty of large real estate companies. When you are listed on thirty websites, and have a strong listing agent, you are getting your money’s worth on any costs you may incur.
Coldwell Banker Residential Real Estate, (203) 640-6407, barbara.lehrer@