"Patch and Zillow team up to bring you local real estate news" was the caption I read today online under the heading of Latest Homes for Sale in Danvers in the Danvers Patch, an online news source. If an audience were transported from even ten years ago, they might think that Patch and Zillow were local real estate agents. The showcasing of today's real estate listings of homes for sale come from multiple sources. How does the local real estate agent fit into the new real estate landscape?
Real estate information and details of homes for sale are at a home buyer and sellers fingertips. Where does the real estate agent fit in? The homes viewed on Patch, Zillow, Tulia or on numerous other sites show interior and exterior photos and videos of homes for sale. Finding the home is no longer an obscure task for buyers, except in some local hot markets where there is scarcity of homes for sale and bidding wars are occurring. The fact that most buyers and sellers are still using agents implies the value an agent brings.
A persons home is still the most sizable asset people have. In a real estate transaction a lot of money is involved. A handshake will not a sale make. There are contracts to be signed, monies to be deposited, government rules and regulations to be followed, and deadlines to be met. Agents bring knowledge of and help with the process. They know how to negotiate for thier client. A significant part of an agents job often starts once the a buyer identifies the home they wish to purchase. Keeping the transaction together resulting in a successful closing comes with the skill and knowledge of a real estate agent. Agents offer counsel to buyers and sellers and work diligently to assist them. Home inspections today consist of tens of pages of information about the home. Decisions must be made on both sides of the transaction as a result of the inspection. A real estate agent is trained to keep the parties involved cool and level headed.
A real estate agent:
- Keeps track of financing, working closely with the mortgage lender
- Negotiates the best price and terms for their clients
- Co-ordinates showings and inspections
- Analyses the market
- Educates buyers and sellers on the real estate process particular to their state
- Is knowledgeable about and prepares real estate documents and contracts
- Accounts for and submits deposit funds into escrow accounts
- Produces a detailed comparable home market analysis
- Has marketing expertise to get homes sold
- Utilizes real estate networking and connections to help buyers and sellers
- Analyses and provides showing feedback for home sellers
- Ensures deadlines are met from contract to close
- Analyses market statistics for accurate pricing
This is a partial list of a real estate agents responsibilities. A real estate agent may help you in your search for a home, and will use their marketing skills to find a buyer for a home they list for sale, but their job does not stop there. There is so much more to do to succesfully get you to the closing table.