Often heard is the anonymous quote: “A little knowledge is dangerous!” And in no other business sector or time does this quote hold more weight than when applied to the Real Estate Business and the self-administered practice by the public of trying to think like a trained, experienced, professionally-trained real estate agent.
The difference is all that!
A 2014 study by the California Association of Realtors® found that there are five primary reasons when the public should rely on the services of a professional. They are:
- Searching for the right home
- Price Negotiations
- Negotiations of Terms
- Determination of Comparable Price
- Affordability Determination
YOU see, finding the right home is not simply a matter of cruising the Internet; unless you have real-time data access to the local Multiple Listing Service that your agent relies upon every day. Sure, there are many online sites laying claim to have access to and giving you the latest listing information, but why not rely on the primary source and not second hand information subject to errors and the delay of batch uploads and more importantly, the lack of updated listing status and pricing information?
Price negotiation is an 'Art'. It is just as simple as that! Your agent has the ability to negotiate the price of your desired home with one goal in mind, i.e., securing YOU the very best price possible. How does this come about, you might ask? Through direct communication with the listing agent, and negotiation techniques honed by years, not days of experience. Whether it is 'Good Cop/Bad Cop' or Brinksmanship, or countless other methods; your agent is the very best choice and should be your ONLY CHOICE to implement these techniques to your advantage.
AND so it goes with the critical negotiation of the terms of your contract, for many, it is not just about the final price, but you must also consider any repairs the home needs. Does the seller pay for the repairs, or do you, and do those repairs get attended to before you close on your home? There are virtually hundreds of pitfalls within the terms negotiations that you aren’t expected to know or even address, since you do not buy a home every day!
YOUR agent, through access to the latest sales of comparable homes in your desired target neighborhood is the only source of providing you with an accurate price range that will give you the comfort each night as you retire to sleep that you did not pay too much for your largest lifetime investment. Sure there are several online sources, but they historically have yielded erroneous value information either too high, thus causing many buyers to pay a higher price for a home causing a negative equity position, or too low, causing many buyers to under-price their offers and losing out on the home of their dreams. Don’t be that buyer!
LASTLY, consider your agent as a trusted source to help you understand that purchasing a home involves much more than just considering the acquisition cost. You need to consider the property taxes, home insurance, maintenance costs, Mello Roos or CDD fees and avoid being placed in a situation a few years from now when you suddenly realize that the home you have chosen is a huge ‘Money Pit’. Sure your mortgage professional can give you an idea of what your monthly cost will be factoring in the Principal, Interest, Property Taxes and Home Insurance Costs (PITI), but there are many more considerations that will give you cause to either sleep soundly every evening, or develop a serious case of insomnia.
WE are your trusted source, working for you every day with integrity, diligence and a never-ending desire to make your home dreams come true.
Always your ‘REAL’ REALTORS ®