I found a home I want to buy on the internet. I searched various web sites including Realtor.com, Zillow.com and Trulia.com. I spent many hours looking through property photos and descriptions. I did all the work. Why do I need a Realtor?
I have heard this question many times during recent years. While it is true that technology has greatly improved the home search process, the need for a Realtor has never been greater. In a normal (non-distressed) sale there are some 60 forms and/or actions that need to be completed. Many of these actions are time sensitive and will affect rather the buyer will successfully close the transaction. Many of these actions impact what the buyer will ultimately pay for the property. These actions include, but are not limited to, determining the proper price, writing and negotiating a good offer, negotiating counter offers, reviewing the title report, assisting with the loan approval, collecting and reviewing (with the buyer) the property disclosures, assisting with the home inspection, negotiating repairs, reviewing with the buyer the natural hazard report, reviewing escrow instructions and assisting in the final walk through. Why do you need a Realtor? As you can see there are many reasons.
Now back to my comment that the need for a Realtor is greater than ever. Currently in Southern California, the number of distressed properties on the market represents 41% of all properties for sale and 43% of closed sales year-to-date. The distressed property sale is much more frustrating, complicated and longer to complete than the standard sale. Although the distressed properties are less than half of the homes on the market, I believe they attract the majority of the online buyers searching for homes. This is mainly because they represent what appear to be the best deals. They are the properties I receive the most inquires about.
The greater need for a Realtor in a distressed property situation is due to the frustration and complexity of these transactions. The frustration and complexity starts with the asking price (which is normally too low to get lender's acceptance), and continues through the seller hardship and lender approval, the counter offers, the buyer's lending process, the inspection process, and to the (hopefully) closing process. There are many more things that need to be managed by the Realtor if there is to be any chance for a successful close.
Why do I need a Realtor? Hopefully you now see why.
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