Now that we are suffering through one of the most serious housing slumps that I can remember, much of what I’ve long told buyers and sellers suddenly carries more weight. There is no clearer example of this then my longstanding recommendation that homeowners and buyers work with REALTORS® who are advisors, not mere order takers, when buying or selling a house.
During the housing boom, REALTORS® didn’t have to work as hard to be successful. Homes sold in record time. Sellers juggled multiple offers. And buyers were willing to pay full listing price or higher to get their dream homes. We all know that this has now changed.
Today, more than ever, sellers and buyers have to work with REALTORS® who earn their commissions by providing them with sound advice on properly managing the purchase or sale of their largest financial investment. They need to work with REALTORS® who will sit down with them to determine exactly what it is they are looking for from their home sale or purchase. The best REALTORS® then create strategies for achieving these desires. They don’t just list a home. They don’t just drive buyers from property to property. They work with their clients to make sure that what might be the biggest financial move of their lives is a wise one.
I was reminded of this when I read this story in the Seattle Times. The story focuses on the work that REALTORS® are doing to educate themselves on new lending programs, the shifting fortunes of the market and the features that buyers are looking for when purchasing a home.
Armed with this knowledge, REALTORS® give their clients every possible advantage in what has become an extremely difficult and competitive market.
Remember, your REALTOR® is just as important to your financial health as any financial advisor. When you interview REALTORS® to work with you, ask them what steps they are taking to meet the challenges of our new market, what research they’ve done on suddenly important products like FHA loans and how they’ve fine-tuned their marketing efforts now that homes are taking far longer to sell.
You do the research when you buy a car, right? Be as vigilant when you’re deciding with which REALTOR® to work.
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