Remembering the [REAL]TOR® Value

GOOD NEIGHBORS

LETICIA SHIFFLE chief executive officer, Cache Rich Association of REALTORS®

We previously published an article addressing the common pitfalls that can take place during real estate transactions. The content focused on the risks that accompany any For Sale by Owner (FSBO) transaction, and covered topics including but not limited to:

LIABILITY In an FSBO situation, liability rests with the buyers and sellers involved in the transaction. In a transaction that can be complicated and carry high risks, it’s best to let that risk ride on a REALTOR®.

SCAMS Both buyers and sellers in an FSBO transaction run the risk of being taken advantage of in a scam. It’s not uncommon for scammers to provide fraudulent loan documentation and appraisal information, stage foreign buyer deposits, steal personal information, and falsify paperwork.

MARKETING When it comes time to spread the word or find that perfect home, FSBO buyers and sellers are left with limited resources. A REALTOR® comes preconfigured with an established network that creates maximum exposure and increases the chances of a timely, successful transaction.

Just to name a few.

With so much going on in a world that can feel almost upside down, you might be wondering why it’s so important to go over it again. When you’re looking to buy or sell a home, a real estate endeavor is probably one of the biggest financial investments and transactions you’ll make in your life. It’s a lesson worth repeating. So, let’s talk about the elephant in the room — money.

Most sellers decide to go the FSBO route to avoid fees typically collected by real estate companies. It’s important to keep in mind that no matter the path you take, selling costs money, through mortgage fees, title transfer fees, escrow fees, etc. And while it’s true that a realtor is another of those fees, a seasoned realtor often more than makes up for the cost with competitive pricing and marketing. They know how to set the right price, and they’re the pros when it comes time to negotiate price based on the features of the home. When you go it alone, you are less likely to get as high a price for your property. At the end of the day, your REALTOR® is not an expense; they’re an investment.

While we’re all fans of a good DIY, some things truly are best when left to the professionals. After all, what’s the real difference between the wise man and the foolish man? The wise man used a REALTOR® when it came time to sell that house he built on the rock! Enlist the help of a REALTOR® to ensure safety and success of your real estate journey.