Need? No.
Want? Yes.
The availability of pertinent information on-line has made the home buying experience a bit easier then it was just a decade ago - however, this does NOT in any way correlate to the demise of the Real Estate agent. While sites like Realtor.com, Zillow and the like do provide some "good" information they do not provide what is necessary to successfully close a transaction on your own. Finding a home and verifying value is of course a part of the home search and selling process, albeit a very small one. This due diligence process is simply a small piece of the pie.
Why work with an agent? Quite simply for three crucial factors - Direction, Protection and Attention.
Direction
I've often stated that "selling the home is the easy part" and what I mean by that is plain and simple - It IS easy to sell a home or find a home to buy. Obtaining a seller or buyer with your specific needs may be daunting and may take some time, but generally anyone can do it in the technology age. The days of print advertising, MLS "book" (listings were once listed in actual broker books before the internet), and a Rolodex full of buyers is no longer necessary to get your home under contract. There are plenty of sites offering help in doing so - so why do you need an agent? Direction.
An agent can and will direct you through the maze of a successful closing. It takes full time knowledge and experience to know what pitfalls to look out for. A "virgin" homebuyer simply doesn't know these procedures and can and will often put themselves in a sticky situation with either the lender, mortgage holder, title company, inspection agent, escrow account holder, appraisal work, contract deadlines, etc. Not knowing the correct "direction" to move in a transaction can quickly put you back to square one - often scratching your head wondering what you did wrong.
Think of an agent as your guide - your Sherpa in the Real Estate journey. Would you climb Everest for the first time without a guide? Then why would you put such a large transaction in your own hands?
Protection
An agent also serves as true protection in your Real Estate transaction. Even if you know the way, if not properly trained to watch out for red flags throughout the sales and/or purchase process a buyer or seller can easily slip down a slippery slope.
The list goes on and on, I've dealt with horror stories throughout my career and luckily with time, knowledge and patience I have been able to get through them all - protecting my clients the whole way. Without my knowledge in these situations these people would be out not only a home they had their eye on but in a few instances they would have been out tens of thousands of dollars.
Did your buyer neglect to place the correct amount of funds in escrow?
What retribution do you have?
Did the seller take items out of the house that you had originally stated in contract?
What do you do now?
Did the appraisal come back lower then contract price?
Is anyone at fault?
Will the buyers not release escrow out of backing out of a deal after 3 weeks?
Are you due that money?
Did the inspection report come back showing matters unknown to seller?
Who has to repair?
Will the HOA not approve your sale just days before closing?
Now what?
Now what?
Protection in these transactions is crucial - we are talking LARGE purchases here people!!
Don't go it alone.
Attention
We all need attention in this fast paced world. Cell phones, email, G4 speeds and the like have made our world move FAST. An agents job is obviously to stay on top of the entire transaction from contract to close. This has become tougher and tougher for sellers and/or buyers to maintain on their own. With most buyers/sellers having full time jobs themselves keeping up with the transaction is simply impossible. Without having a "wing-man" giving you the attention you need and deserve you can and will put yourself in a situation that may at that point become unsolvable.
I can't speak for all agents, but my main goal when working with any buyers or sellers is to offer my complete and undivided attention WHENEVER they need it. True 24/7 availability and service, if you can't move quickly in this environment you don't stand a chance. And if you have a full time job, you simply can't move quickly without an agent on your wing.
Having a trusted professional looking out for your best interests and giving the attention you need and deserve is priceless - well that's not true..... it's 3%
Rick Rapp
"Real Estate Done Right"
