There has been much talk, and a bit of controversy, about the changing role of the real estate professional as the Internet has evolved, discount brokerages have become more prominent, websites have cropped up all over the place for sellers wishing to represent themselves, and buyers, in general, have become more knowledgeable through on-line research. The question often comes up, either explicitly or implicitly...what do buyers need us for? Perhaps we ask ourselves (if we don't we should). Certainly buyers are asking.
Agents have had to change their thinking about what buyers want and need because the demands have shifted...dramatically. Many have, or are making this transition, but many are not. Still believing that the role of the agent is not that dissimilar from the past. Or not understanding the implications of the new Internet buyer (or seller). Or at least while they may recognize the role is evolving, they are not changing the manner in which they provide service to buyers, how they market themselves, how they think, or how and when to respond to inquiries.
There is so much that buyers do not need us for any longer. To some that is a relief, to others it's scary. Will I become obsolete? Will I simply become a cog in the transaction wheel and nothing more?
As most of us know:
- Buyers DON'T need us to find out what is for sale. No earth-shattering news there.
- They can find out what has sold and for how much.
- They can virtually tour homes inside and out.
- They can research property ownership and tax records.
- They can obtain an estimate of value (perhaps not accurate, but a value none the less).
- They can find an agent to help the buy a home
- They can download all sorts of reports and forms elevant to the buying process
- They can advertise for homes, and can comment about homes they have seen
The list goes on and on. And with this treasure trove of information comes a feeling of control, of power, and perhaps entitlement. "I know everything I need to know to buy a home on my own." Perhaps for some that is true. And if they do know it all, or feel they do, and want to do it themselves, that's fine by me. They DON'T need me. I won't add value.
I met with some potential buyer clients recently over lunch - they found me on the Internet (yippee) through my blogging and have made the decision to buy a home in a particular area north of San Diego that they have fallen in love with but don;t know very well. They have been home owners in the past, several times, so they understand the process, and the paperwork. They are currently renting so they can move quickly. They are pre-approved, and they know the budget. They know where they want to live and have a good idea of the things that are important to them in a home and a community. So what do they need me for? This was not a slam dunk, but rather a discussion to find out how I could help them, and to get to know each other better, so they could decide IF they wanted me to help.
It became quite clear, at least in this early phase of the process, that despite how much they already knew and were capable of doing, that they wanted my assistance in learning more about the area, in guiding them through the process, to help them better understand what is happening in the market, and to save them time. They understand they need to do their own due diligence and research but need my suggestions on the things to consider in their purchase, to help them solve problems that arise, and to coordinate the entire process and keep them on track - they have busy lives with a child, jobs, and more. They know I can't, and won't, make the buying decision for them but they want me to be there as an adviser who can give them options to consider, or point out issues to factor into their thinking before they decide. And I suspect there is much more.
So, despite all that is available, buyers DO need us, at least many do. Those that don't can go on their merry way. I can't help them and don't want to. But those that are seeking my assistance will get everything they need from me, and more. I will do everything I can to ensure they reach their goal, whatever it is. And my buyers I mentioned? Well, it seems they are looking forward to having me help them find their new home. I welcome the journey.
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