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The Value of a Good Real Estate Agent – the PANIC difference

By
Real Estate Agent with Keller Williams Elite RM423455

What value does a good real estate agent have? Recently I have encountered a larger number of persons who are trying to sell their own home or contact the listing agent to buy. I suspect this is due to the fact that these persons want to save money and fail to see the value of a good real estate agent.

Why do I believe I am worth the money I receive in a typical transaction? My value as a good real estate agent is in what I have dubbed the PANIC difference. The PANIC difference is:

  • Pricing. The ability to determine a value which is fair market and is a realistic appraisal figure. In the current market this takes some expertise. A good real estate agent has advance training, experience and tools of the trade to help a client determine a reasonable selling price or a reasonable offer price. This skill must not be minimized by either clients or other real estate agents.
  • Agency Relationship.Most consumers do not understand the importance of having proper The Value of a Good Real Estate Agent – the PANIC differencerepresentation. Too many throw caution to the wind, believing they will save some money if they go the road themselves. I am amazed someone will embark on a several hundred thousand dollar decision without proper coaching, education or experience. I believe so strongly that a consumer is best served by finding an agent who they trust and has the proper experience and using that person by signing a Exclusive Buyer Agency contract. Do you understand how to structure a deal to ensure your well being? Do you understand contingencies to the agreement of sale and how they work? Do you want inspections? Without proper representation, you will basically go it alone. That is your choice, but one I would not advise.
  • Negotiation abilitiesIt also takes some experience to understand the negotiation tactics as a contract is being worked on, signed and completely executed. Again without proper representation, you the consumer are on your own. I recently had a client who told me, “You do not seem too worried about this, so I guess I will not worry.” An agent, who can remain calm, even during tense times, is well worth it.
  • Insurance policy. Will you buy an insurance policy on your new home? If so, why? The simple answer is to protect your asset against possible catastrophic events. The value of a good real esate agent is very similar to buying home owner’s insurance. Most buyers and sellers I meet have no idea of what could go wrong or what it actually takes to complete a real estate transaction. A good real estate agent is like a great insurance policy.
  • Contacts. I have been reminded of this recently. A buyer used one of the inspectors I had suggested. This buyer was from out of town and did not know anyone. The buyer was incredibly impressed with the inspector’s professionalism and thoroughness. I also, have many contacts for mortgage, insurance, carpenters, electricians, plumbers, etc. These contacts are invaluable to you the consumer.

     

When selling or buying a home or investment property, you will not need to PANIC, if you hire a good real estate agent. The value of a good real estate agent far exceeds what it may cost you in this onetime fee associated with the real estate transaction.

Want to learn more about the value of a good real estate agent, please contact me.

 

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Living in Lancaster Group

 

An agent who places your interests as his first priority. 
Cal Yoder

Your Homes for Sale in Lancaster Agent

Keller Williams Realty Lancaster

1630 Manheim Pike

Lancaster, PA 17601

Office Phone: 717-735-1145

Cell Phone: 717-413-0744

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Michelle Francis
Tim Francis Realty LLC - Atlanta, GA
Realtor, Buckhead Atlanta Homes for Sale & Lease

Cal, 

Great blog post!  I love this, as a good agent is more than worth their weight in a deal.  We are working to ensure the best we can for our client.  

All the best, Michelle

Nov 28, 2011 07:45 AM
Cal Yoder
Keller Williams Elite - Lititz, PA
Homes For Sale in Lancaster PA - 717.413.0744

Bob and Lisa, HA! Gotta love the panic that goes on in this business. Thanks for your well wishes.

Thanks for stopping by Jayne. I really appreciate it.

Cindy, I am learning to value both experience and knowledge in this business. It is amazing how well that serves us and our clients. Have a great day.

Tammy, thanks so much. Are you feeling better? Keep mending my friend and have a good one.

Cal

Nov 28, 2011 07:46 AM
Cal Yoder
Keller Williams Elite - Lititz, PA
Homes For Sale in Lancaster PA - 717.413.0744

You are right Michelle. And we gotta believe it and trumpet it because no one else is going to that is for sure. Have a great day.

Cal

Nov 28, 2011 07:47 AM
Michael J. Perry
Fathom Realty - Lancaster, PA
Lancaster, PA Relo Specialist

Cal. great job and featured !!! And as always I'm behind you 110% !!!!!!!!!!!!!!!

Nov 28, 2011 07:52 AM
Cal Yoder
Keller Williams Elite - Lititz, PA
Homes For Sale in Lancaster PA - 717.413.0744

Thanks Mike and I hope to make you number one one of these days! :)

Cal

Nov 28, 2011 07:54 AM
Karen Feltman
Cedar Rapids/Iowa City, IA KW Legacy Group - Cedar Rapids, IA
Relocation Specialist in Cedar Rapids, Iowa

This is a great way to demonstrate value to the consumer. Not sure about the word "panic" as your acronym, but great information!

Nov 28, 2011 07:57 AM
Cal Yoder
Keller Williams Elite - Lititz, PA
Homes For Sale in Lancaster PA - 717.413.0744

Ha, Karen, you not sure if you like it! I actually could have some fun with that. Like, "oh, I'm in a panic, no need cuz you have a great agent! Gotta love it!" No that is ok, if you don't like it. Have a great day.

Cal

Nov 28, 2011 08:37 AM
Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

Love the acronym and it could NOT be any more true!  Very worthy of a feature - agreed with Tammy!

 

Nov 28, 2011 11:18 AM
Lorraine or Loretta Kratz
Crescent Moon Realty, Inc. & Land N Sea Auctions. - San Marcos, CA
Certified Negotiation Consultants

Only the other day I was in a situation where some very unkind things were being said about a real estate person, how they were lazy, did not do their job when the sellers were listed, and the list went on, I agree that some agents are worth their weight in gold, but then there are those that are just ?????  

Nov 28, 2011 12:29 PM
Joy Daniels
Joy Daniels Real Estate Group, Ltd. - Harrisburg, PA

Great post - I am going to share this with my team.  Thank you for sharing.

Nov 28, 2011 12:46 PM
Cal Yoder
Keller Williams Elite - Lititz, PA
Homes For Sale in Lancaster PA - 717.413.0744

Thanks Renee. I always appreciate your thoughts.

Lorraine and Loretta, I hear you. The bad apples are part of what each of us fights against, but you are so right the good ones are worth their weight in gold.

Joy, thanks and hopefully we will meet sometime soon since we do not practice that far from one another.

Good for you Erica. Our brokerage does charge a fee as part of our commission structure. I am toying with a couple of things and writing about them. I am thinking I am going to begin charging for CMA's which is either waived or credited at settlement from the commission. It is non-refundable in the event the person does not list with me or use my services beyond that. Also wondering about requiring retaining fees up front from buyers.

Really good comments and it continues to help me learn. Thanks my AR friends.

Cal

Nov 28, 2011 02:26 PM
Ben Blonder
Broker/Owner, Keller Williams - Fort Collins, CO
Buyers, Sellers, Investors!

A good agent can handle all situations, has a number of reliable sources and is informative to ensure you know what you are doing throughout the entire process.

 

Thanks for the post!

Nov 28, 2011 02:51 PM
Evelyn Kennedy
Alain Pinel Realtors - Alameda, CA
Alameda, Real Estate, Alameda, CA

Cal:

I hope buyers and sellers know what great sources of information we are.  and we have abilities beyond finding properties for our customers.  We actually know the market, the legal aspects of real estate and we have skills which are needed to bring a transaction to close.. 

Nov 28, 2011 03:11 PM
Cal Yoder
Keller Williams Elite - Lititz, PA
Homes For Sale in Lancaster PA - 717.413.0744

Thanks Ben, we are definitely a wealth of information.

Evelyn, it is important for us to help our clients understand what we have to offer them. Thanks so much.

Cal

Nov 28, 2011 03:15 PM
Cheryl Ritchie
RE/MAX Leading Edge www.GoldenResults.com - Huntingtown, MD
Southern Maryland 301-980-7566

I like the insurance policy verbiage. Really cool covered Bridges header!

Nov 28, 2011 04:24 PM
Cal Yoder
Keller Williams Elite - Lititz, PA
Homes For Sale in Lancaster PA - 717.413.0744

Cheryl, thanks for your comments and I am glad you like the header. I recently made that change.

Cal

Nov 28, 2011 10:19 PM
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Congrats on the feature Cal!  Like this acronym.  As well as the fact that good Realtors don't fly into actual panic when something goes wrong.

Nov 29, 2011 12:59 AM
Valerie Duncan Stewart
(Metro First Realty) - Oklahoma City, OK
Real Estate Agent-Broker, OKC, OK

Cal,

I like the "panic difference". You've coined a great acronym! Congrats on the feature too, you're on a roll!!!

Nov 29, 2011 02:30 AM
Adam Todd
LeadTrader PRO - Miami Beach, FL

yes you should make potential buyers pay a small fee upfront, it's not so much for the money but more to establish yourself as a professional who is worth it. Nobody ever appreciates anything that is free

Nov 29, 2011 03:08 AM
Debbie Walsh
SHAHAR Management - Middletown, NY
Hudson Valley NY Real Estate 845.283-3036

Cal glad this got featured - it was much deserved!

Dec 01, 2011 06:27 AM