With the advent of the internet, the real estate industry has gone through tectonic shifts in the way that it operates. Almost any information that was at one time available only to real estate agents, is now available, in some form or another, to the public in general via the internet. Some of it is good information and some of it is poor information, or just outright wrong. A lot of the information on the internet is poorly written and, as a result, easily misinterpreted and misused.
But, for the saavy user, one can get a good headstart on their real estate goals without the intervention of an agent. In all fairness, one of the reasons that over 86% of all real estate buyers and sellers begin their search for information on the internet is because, like the information on the 'net, there are good agents and bad agents (and some really horrible ones).
Everyone has probably heard a horror story about how their agent did little or nothing for them, and in the worst cases, even did things that may have frustrated them and their transactions. Those of us who are professional Realtors certainly hope that these cases are the exceptions!
None-the-less, we all know that there is good and bad out there, with regards to both information and agents. But, is there really still information that is witheld from the general public? The answer is an unqualified YES!
Of the 7 transactions I have conducted so far this year, 3 of them have not been published on any Multiple Listing Service (MLS), any web site or in any public record UNTIL the transaction was completed. They have been transactions between private individuals whom I have put in contact with each other or who had agreed to complete a transaction before contacting me. I then steered their transaction to completion quickly, efficiently and safely.
So, yes, there is still a lot of information out there that is limited to "those in the know" just by virtue of their experience and exposure in the industry. That is not to say that someone cannot complete all or part of a real estate transaction without the benefit of a Realtor, but one does sacrifice the advantage of an expert's opinion and advice.
The value of a Realtor today is not so much the information that he/she has that the consumer does not (although I will say that sifting through hundreds or thousands of web pages about real estate is not always the best or most efficient way to gather information about real estate), but more importantly, a Realtor should be acting as an advisor to clients.
This is a new (and intimidating) role for many agents, but for the professional Realtor, it has been a natural evolution and one that is welcomed by those who embrace it.
Your comments are welcome!
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2 comments:
Hi Gerry!
I have a nephew that is looking for his first home in the Lancaster County area. He thinks that he must call the realtor that is listed on the yard sign to see and buy a particular house. I told him that I heard it is best if a person has his own realtor and that his representing agent can show him any home that is advertised. Is this true? Thanks for your advice. Sherri C
Sherri C,
That is absolutely true! Many people call the REALTOR that is listed on a sign to ask about a house. The REALTOR may be very helpful and friendly, but just remember, his/her primary job is to represent the seller of the property. In doing so, their LEGAL OBLIGATIONS are to keep the sellers' interests and goals their top priority - even to the detriment of a buyer.
It is precisely this type of situation that caused the State of PA to create The Consumer Notice (or the "Green Sheet", as it is known in the industry). It requires EVERY agent to review this notice with EVERY consumer with whom they have a material communication about real estate.
In doing so, the REALTOR must identify who he/she represents in a potential transaction.
Have your nephew contact me with any questions about this, or any other Real Estate related issue.
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