Recently, an excited first-time homebuyer spent
some time telling a real estate agent what she wanted in a home. They also
discussed financing. Immediately afterwards, the agent took her new client out
and showed her...
...two homes.
One was perfect.
Instead of making an offer right away, the buyer
went home and called her friend. The friend had a real estate license. The
buyer and her second agent presented an offer on the home, leaving the first
agent totally in the dark.
After all, the first agent hadn't worked "too
hard."
Which made me think about what really makes
a real estate agent valuable, among other things.
Knowledge of inventory was near the top of the
list.
It sounds boring and unexciting. Bookish, even.
You see, the reason the first agent knew which
houses to show her potential client was because she had previewed those
properties. That's one of those things agents do that you don't know about.
They go out on their own, by themselves or with other agents, and look at
property after property after property. They know what models are located
where, how long they've been on the market, which ones have listing agents that
are easy to work with, and more. They know all kinds of things that you don't
know they know.
Not only that, the agent had been previewing
properties for what "seems like forever" - so she immediately knew
which houses to show the soon-to-be-excited buyer. She had been to those homes
and/or model matches for those homes - for quite some time.
She knew her inventory.
The friend did not know the inventory. Otherwise,
the buyer would have gone to her friend first, right?
It's like wandering around the aisles of a drug
store not knowing which over-the-counter cough syrup is best for your particular
ailment. Who would you rather ask? The clerk at the register or the pharmacist?
Either way, you're walking out of the store with a
cardboard box filled with thick sloshy liquid.
So what you're really hiring in an agent is
knowledge - and not just knowledge of inventory. Knowledge of lots of things
that you don't even know you don't know. They make it seem easy, but that's
because they want it to seem easy. If agents told you how hard it was, you
would be even more nervous about shelling out hundreds of thousands of dollars.
After all, it is only the most expensive purchase
you've ever made in your life.
But it's only a house, right?
And everyone knows that a Schedule 1 item on
a termite report must be repaired prior to closing, which Schedule II items do
not. And all those other little details.
By the way, the first agent and the listing agent
talked to one another because she expected to present an offer shortly. No
details, of course - just the name of her client and to expect the offer.
The buyer did present an offer, but with the wrong
agent. This took the listing agent by surprise. Like many industries, real
estate agents have a code of ethics they are supposed to obey. At the same
time, agents don't always know what their clients are up to. Anyway, imagine
how negotiations went, if they went anywhere at all. Plus, there were other
problems that will be saved for another article.
Which isn't really the point. The point was that
you hire an agent because of training, knowledge, experience, problem-solving
ability, connections, their ability to communicate...and lots of other neat stuff.
The moral I promised?
You don't know what you don't know.
Which is why you hire people that will cover the
blanks you know about, as well as the ones you don't. That is where you find
the true value of a real estate agent.
Call Amanda for all your real estate needs! 910.545.0450 www.AmandaParmerSellsHomes.com
It's true! You can own a home in Jacksonville, NC for $100,000 or less. Many of these homes are move in ready, three bedrooms, two bathrooms, and convenient to everything Jacksonville has to offer!
