The leaders at my brokerage have been talking a lot about value — the value an agent brings to their clients. In fact, they’ve landed on 10 key concepts, from how my negotiation skills benefit my buyers and sellers to all the trusted resources I happily share with my clients. I am not only reminded of the things I do every day — the very reasons why I do this work — but I am also honored by the recognition. If you’ve never thought about an agent’s value outside of a transaction, this summarizes it beautifully.
From the President’s P.O.V.
From Briggs Freeman Sotheby’s International Realty president and CEO Russ Anderson
When you hire a real estate agent and pay them a commission, you’re not just compensating them for the time and effort they just put into one transaction — you’re benefiting from their education, connections, resources, knowledge and expertise.
Every one of those takes years to develop.
If you’ve worked with us, you know about an agent’s worth. But some may not. We’ve honed the value of a professional agent to 10 big concepts — among the hundreds of things they do. And know this: I witness these things every single day.
#1 — Agents have deep knowledge.
These pros know everything about the local market, including pricing trends, neighborhoods and what clients are looking for. This helps you make informed decisions.
#2 — They negotiate.
An experienced agent has honed these skills over many, many transactions. This can help you get the best price for your property — and keep you from overpaying for your next one.
#3 — They network.
Agents have trusted resources — from inspectors to painters to mortgage lenders — and these special relationships can speed up processes or uncover opportunities you may never have found.
#4 — They know the fine print.
Real estate transactions involve a lot of legal paperwork. An experienced agent can help you navigate contracts, quickly, reducing the risk of costly mistakes.
#5 — They solve problems.
Every transaction has its challenges. But an experienced agent has encountered and overcome many hurdles and can use that experience to address any issues that arise.
#6 — Agents save time.
One example? You may see your agent mainly during showings and at your closing, but there is a lot of behind-the-scenes work they do for you, including market research, coordinating with other agents, handling lots of paperwork and answering all of your questions. Their expertise streamlines every process, saving you time.
#7 — They can help after the transaction.
Agents can offer advice on future (and valuable) home improvements, market trends and when might be a good time to buy or sell again.
#8 — They help mitigate risks.
Mistakes in real estate can be costly. Whether it’s missing a disclosure or not understanding a contingency in a contract, an experienced agent can help reduce risks.
#9 — They learn, continually.
The real estate market and the industry’s regulations are continually evolving. Experienced agents invest in ongoing education to stay updated, ensuring they provide the very best service to their clients.
#10 — Agents can buffer emotions.
This is big. Buying or selling a home is often emotionally charged. An experienced agent can help ensure that those emotions don’t cloud judgment or derail a transaction.
So, in essence, an agent’s commission is compensation for the thousands of hours they have invested to develop the knowledge and instincts needed to guide you to the very best outcome — and then, as is most often the case, far beyond that.
The real value of a professional real estate agent? Frankly, they are invaluable. Read More Here.