An Opinion from the Assistant
Pam, Assistant to Kimberly Gribbin
Before I started working with Kimberly, I use to think that REALTOR®'s and Brokers made too much money... That the fees I had to pay to sell a home was excessive. To pay 6% just to put my home in the MLS was stupid... Why would I as a seller ever agree to such highway robbery?
Until I started working in the Real Estate business I never realized what all went into a real estate transaction. How much education REALTOR®'s need to keep up on all the changes in banking and real estate laws? How much money it costs to maintain their real estate license? How much their insurances cost?
As independent contractors, Real Estate Agents have to pay for their print and advertising costs upfront, regardless of whether the property sells. That's a lot of color copies at 40ȼ each. They pay for their memberships, National, State and Local dues as well as dues for the MLS system and the lockboxes they place on your house for key security. They also There is print advertising expenses as well as internet/online expenses if they want their sellers home effectively marketed to all resources, Realtor.com, Homes.com, Trulia.com, Zillow.com just to name a few. They also have to advertise themselves as a REALTOR®, so they get the phone call from the potential buyer or seller.
How much it costs in gas to drive clients around all week long? And what about the wear and tear on their vehicles? And the cleaning expenses---have you seen some of their cars? I swear they live in them sometimes. Or how many hours they work to show every client every home they wish.
All of these expenses are justified when the home ACTUALLY sells. What if the home doesn't sell because it's not what buyers are looking for today? What if seller doesn't agree about fair market value and over prices and the house expires UNSOLD? Then the REALTOR gets nothing and has spent their money during the process.
Not to mention being on the phone for hours, talking to banks, title companies and other REALTOR®‘s. All in an effort to help get the transaction successfully negotiated and settled. While simultaneously holding the hand of frustrated homeowners who are desperate to sell their house, before they lose it. First Time Home Buyers to be educated on terminology of the real estate transaction. Part of the REALTOR® job is to educate their clients about the home buying processes that will help them see their desires end result----a new home or a sold house.
With this intensely depressed market, short sales are more common. Short sales require more work than the regular real estate transaction. The homeowners despite stories about why they need to sell can way heavy on the hearts of the REALTOR®'s. Sometimes the REALTOR® is called upon to help home owners find refinancing for their existing home so they can afford to keep them. Not all agents just want to sell their home---many are willing to help homeowners understand the loan modification process and see if there is a way for the homeowner to keep their house---at least the REALTOR® I work for does.
I understand that not all REALTOR®'s are alike. A good REALTOR® can make or break the real estate transaction. A well educated agent can successful foresee problems and avoid them leading the property to a successful closing. A good Real Estate agent is worth their weight in Gold, and a bad one is not worth their weight in air.
After working in the business for @ years now I appreciate now what a real estate agent goes through when listing & selling a home or finding that perfect home for their buyer clients. In my Opinion I don't think they are paid enough---especially today with all of the new rules and paperwork and time needed to get the job done.
When choosing a REALTOR for the sale or purchase the experience of the agent in today's market matters---what someone did years ago does not mean they are up to date with technology and the products needed to get the job done.
Pam Gifford
Assistant to Kimberly Gribbin
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