Do Realtors Sell Homes Anymore?
The world of home selling has dramatically changed over the past decade or so. There are many home marketing outlets on the internet and homebuyers are more informed than ever before. Do Realtors sell homes anymore or do they sell themselves?
The Definition of Selling
If you look up the word "SELL" in the Miriam -Webster Dictionary you will find many meanings. One of the definitions defines the action the following way "to give up (property) to another for something of value (such as money) (2): to offer for sale". If we then look up the word "REPRESENTATION," we find that it is the action or fact of one person standing for another to have the rights and obligations of the person represented.
In simple terms, when a Realtor represents a home seller they are acting in the best interest of that client and therefore are selling the home or property even though they may have no ownership rights to it.
So by definition, the answer is, yes, Realtors sell homes! But what if we look at this same question from a theoretical point of view, or better yet, my point of view.
A Different Perspective
It has always been my impression that homes sell themselves. I have yet to experience someone buying a house they do not like just because they like me. The home is the star of the show. If I am fortunate enough to be the real estate agent a seller chooses to represent them the best I can do is be a good director and facilitator.
Being a good director means putting together an excellent production. The production often starts with advising the seller on what to do to prepare the property for the world to see it. What follows are the all-important home photos and video which I personally do with the help of my trusty Bucket Truck. I believe it is essential to capture the true essence of a home and display it on the web in a way that best represents what it truly is. You have all seen those home photos that look somewhat surreal, and the colors are enhanced and not accurate. Sometimes even the slightest misrepresentation of a home can be a costly letdown to a prospective buyer.
Being a good facilitator involves helping the seller choose a responsible home valuation. No matter how good the production is, an overpriced home is destined to underperform. Understanding how to navigate the future sales agreement and get the best terms and conditions are also large, and often overlooked, part of the facilitation process.
How Marketing and Real Estate Have Changed
Years ago real estate agents had to be very creative when marketing property. There were limited outlets to advertise and in many cases, they had to be more accurate and precise with their plan. Today, there are plenty of home marketing outlets eager and ready to display your home for sale with just the push of a button.
In years past, it might take thirty or sixty days to reach enough people to get a buyer. Today, agents can reach thousands of home shoppers in just a couple days. This change has dramatically leveled the marketing playing field and put more emphasis on managing the real estate deal.
In general, I believe that Realtors do not create market value. There are too many overriding valuation factors to consider like property taxes, local economics, etc. A good Realtor should be able to obtain and preserve fair value for their client through the course of a real estate deal.
The home will likely always be the star of the show. If you chose a great director and consider their advice, it is likely that on the opening night your home will be a hit!
Knowledge is Power!
Jeffrey C. Hogue