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Why Should I Use a Realtor to Sell My Home?

By
Mortgage and Lending with Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 NMLS # 6869
“Why Should I Use a Realtor to Sell My Home?”
 
Unfortunately more home sellers are asking this question. They bring up Zillow and Trulia as ways to circumvent having to pay a Realtor, which is absolutely crazy. The truth is home sellers don't save anything, as a matter of fact they more often end up with less money. Furthermore, buyers aren’t stupid they calculate the math and just make lower offers.
 
realtorI have been reading for two days that Zillow is considering the purchase of Trulia and some prognosticators are predicting the end of MLS and the real estate business as we know it. I suppose the real estate business is hearing the same crap as the mortgage brokers have been hearing for the last few years. Guess what, the mortgage broker business is growing and everyone else in the industry is losing ground every day.
 
Will the real estate business need to change the way it operates, sure change will be required, but you are not going to replace the good agents in all areas of the country.  
 
I have been in the mortgage business a long time, my experience has been 50% of transactions that do not involve a Realtor fall apart before they close. There are so many reasons, issues with negotiations during the purchase process, home inspection issues and appraisal issues. The list can be endless and the truth is, the Realtor cost is a bargain and the chances the transaction will close increase dramatically. This decision is a no brainer!
 
image courtesy of tungphoto/freedigitalphotos.net
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Joe Petrowsky, NMLS #6869

Right Trac Financial Group, Inc. NMLS #2709

110 Main St.

Manchester, Ct. 06042

Office: 860 647-7701 x116

Fax: 860 647-8940

Cell: 860 836-9294

Email: joe@righttracfg.com

www.righttracfg.com

www.joepetrowsky.com

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Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.

Equal Housing Statement: We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing becuase of race, color, religion, sex, handicap, familial status, or national origin.

Teri Pacitto
Compass - Westlake Village, CA
Real Estate, Your Style...Your Home...My Specialty
As real estate transactions get more complicated the public needs us more than ever. There's so much information that has to be weeded through to even close a transaction that the average home seller or buyer cannot figure out. I find that they need us more than ever and am in no fear of real estate professionals going away.
Jul 29, 2014 11:30 PM
Woody Edwards
First Choice Realty, Inc - Chesterfield, VA
A Realtor® Who Answers His Phone!

You mentioned Zillow & Trulia......First off, whatever happened to the Anti-Trust Laws?  Next, I tell clients, who should you believe?  A full time experienced LOCAL agent, or a computer program written by some geek, and based in California (I live in Virginia).

Jul 29, 2014 11:47 PM
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

Yes it's true but consumers are being 'lead' to believe the Z & T offer some value. I've never seen a Zestimate that was accurate yet!

Jul 29, 2014 11:56 PM
Terry McCarley
Coastal Real Estate - Cape Coral FL - Cape Coral, FL
REALTOR, SRES, CDPE - Cape Coral, FL
Great post! I love seeing people ask questions on sites like Trulia regarding how to market their FSBO, where to find contract forms etc...the questions they often ask indicate they have no clue what they need to do so they go ask Realtors for advice.
Jul 30, 2014 12:16 AM
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate (435) 632-9374 - St. George, UT
St. George Utah Area Residential Sales Agent

Joe, Change is immanent and good news for those who are willing to adjust and adapt. Real estate agents are a necessary component to home ownership, especially when a FSBO has no real idea of where they are in the market regarding pricing, solds, pendings, DOM. Great post and here we go!

Jul 30, 2014 12:24 AM
Ron Aguilar
Gateway Mortgage Group - Saint George, UT
Mortgage & Real Estate Advisor since 1995

This reminds me of our local furniture industry.  A local furniture store makes a ton of money on the financing part. The furniture, yeah everyone sells furniture but who will let you walk out the door with that new Recliner? It depends who will give you credit. I am still assuming that financed homes is greater than cash buyers. Realtors need to work with Loan Officers and find their strengths and implement. Work means Marketing, not waiting for the Realtor to refer the LO a person to take an application with...

Jul 30, 2014 12:34 AM
Pamela Seley
West Coast Realty Division - Murrieta, CA
Residential Real Estate Agent serving SW RivCo CA

Joe, good agents will always be needed as well as good mortgage brokers. 

Jul 30, 2014 12:55 AM
Stephanie Joines
BHHS Florida Properties Group - Clearwater, FL
Professional Commitment, Personal Solutions

Joe, great post!  And I like hearing that we are needed from people linked to the industry that aren't realtors.

Jul 30, 2014 02:03 AM
Karen Fiddler, Broker/Owner
Karen Parsons-Fiddler, Broker 949-510-2395 - Mission Viejo, CA
Orange County & Lake Arrowhead, CA (949)510-2395

Thank you for this post...it's so true! We bring so much more value than our commission. A real bargin.

Jul 30, 2014 02:17 AM
Gerard Gilbers
Higher Authority Markeing - Asheboro, NC
Your Marketing Master
The errors in pricing on Zillow and Trulia are part of the reason that the agents should survive. There things the computer can't do in the deal, although they can make things more difficult.
Jul 30, 2014 02:20 AM
Anonymous
Gianna Malatrasi

great article, thank you!

Jul 30, 2014 02:42 AM
#38
Georgie Hunter R(S) 58089
Hawai'i Life Real Estate Brokers - Haiku, HI
Maui Real Estate sales and lifestyle info
There will always be a need for Realtors. With some of the personalities we come across in this business, you just know that some people need help to get things done right.
Jul 30, 2014 03:41 AM
Gene Riemenschneider
Home Point Real Estate - Brentwood, CA
Turning Houses into Homes

Not wild about the T or the Z but I think fears of world domination or premature.  

Jul 30, 2014 03:51 AM
Pat & Wayne Harriman
Harriman Real Estate, LLC (203) 672-4499 - Wallingford, CT
Broker/Owners, Wallingford CT Real Estate

Just as with travel agents, the reports of the death of the MLS and RE agents has been greatly exaggerated (apologies to Mark Twain!). Travel agents adapted and have survived and so shall RE agents, if indeed any adaptation is necessary. That all depends on what the final outcome of this impending merger is and how it affects the industry. Until then, it's business as usual!

Jul 30, 2014 04:23 AM
Sam Kader MLO 130505 MB 78982
Pacific Coast Financial LLC Lic# MB78982 - Seattle, WA
Real Estate NMLS 91980 Mortgage Broker Lic MB78982

Well said! Thanks Joe. I am a big proponent for value added and I think most realtors fall in that category.

Jul 30, 2014 04:50 AM
John DL Arendsen
CREST "BACKYARD' HOMES, ON THE LEVEL General & Manufactured Home Contractor, TAG Real Estate Sales & Investments - Leucadia, CA
Crest Backyard Homes "ADU" dealer & RE Developer

The RE biz is changing everytime I inhale. But I'm soooooo glad I bellied up and learnt a little bout hitech cause it sure beats notech at all.

Jul 30, 2014 06:40 AM
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

When I was a broker I always said that finding the buyer and coming to agreement was the easy part. The real work came from then until closing. 

Jul 30, 2014 03:34 PM
Eren Millam
Realty World Cosser & Associates, Inc. - Chehalis, WA
Certified Negotiation Expert

I might have to use this for my blog to give the consumer an unbiased opinion about FSBOs!

Jul 31, 2014 12:34 PM
Deleted Account
Fort Myers, FL

Great Post!  You are so right about FSBO deals falling apart.  The first question I always ask the seller of  a FSBO is who is responsible if there is an error made?  The next question I ask is, "Are you updated with the latest real estate laws?"  When they say no, I tell them, "I am."  I find most sellers get a little nervous after just those 2 questions.

Aug 02, 2014 10:52 AM
Winston Heverly
Coldwell Banker Access Realty - South Macon, GA
GRI, ABR, SFR, CDPE, CIAS, PA

I think we have some of the best reads out there on Active Rain. Thanks for sharing

Mar 19, 2015 01:34 PM