Commercial Property Find A Home
RSS Feed

January 31, 2024

A Deeper Look into the Realtor’s Value

I get asked regularly, “Why should I use a REALTOR® when I can save money doing it on my own?”  I know this question can be frustrating at times, and I understand that a REALTOR®'s role is often underestimated. Some may wonder whether REALTORS®’ services are truly worth the compensation they’re paid. The National Association of REALTORS® compiled 179 Ways Agents Who Are REALTORS® Are Worth Every Penny of Their Compensation. So, throughout this year, I plan to delve a little deeper into the 179 Ways to spotlight the complexity of buying or selling a property and why the REALTORS®' role is essential. So here goes …

Make an appointment with the seller for a listing presentation. This first step may seem simple enough, but it’s more complicated than it seems. This crucial first step is challenging with everyone's busy schedules in today's world. It's not only about finding a convenient time but also about initiating a professional and personal connection. Unless it’s a referral, these relationships are built over time. By setting up this meeting that meets the client's needs, you begin the journey toward understanding the seller's goals, expectations, and unique circumstances. This initial appointment also allows the Realtor to demonstrate their dedication and expertise, reassuring the seller that they are in capable hands.

Send the seller written confirmation of the listing appointment and call to confirm. Once a REALTOR® confirms the appointment with their seller, sending a follow-up email or text quickly is essential. This written confirmation showcases their professionalism and ensures that all parties are on the same page regarding the appointment details. However, the communication doesn't end with an email or text. A follow-up call to reconfirm the appointment adds a personal touch and demonstrates their commitment to the seller. It also allows for any last-minute appointment changes or questions to be addressed, reassuring the seller that their needs are top priority. This proactive approach sets the stage for a successful listing presentation and instills confidence in their Realtor abilities.

Review pre-appointment questions. This step is more than a checklist; it’s the key to unlocking valuable insights about the seller and their property. This review of questions enables the REALTOR® to tailor the listing presentation precisely to the seller’s needs and anticipate potential challenges to address them proactively during the meeting. Reviewing these questions demonstrates the REALTOR®' commitment to providing a personalized and effective service, setting a solid foundation for a successful collaboration with the seller.

Research all comparable currently listed properties. REALTORS® can thoroughly research all comparable properties listed in their seller’s area. This meticulous investigation goes beyond simple data collection; it involves an in-depth analysis of similar properties on the market. REALTORS® can gain valuable insights into the competition, pricing trends, and unique selling points of each property by analyzing these other listings. This research equips them with the knowledge needed to effectively position their seller's property and stand out in the market. It's not just about gathering facts and figures; it's about creating a compelling strategy highlighting their client's property among the competition, ultimately leading to a successful sale.

Research sales activity from the local broker marketplaces and public records databases. For a REALTOR® to complete the comparable analysis, it is essential they subscribe and cover the associated fees for access to the local broker marketplace, commonly known as the multiple listing service (MLS). The MLS serves as a central hub, aggregating property listings from various REALTORS® and brokerage firms into a unified database. This comprehensive platform equips REALTORS® with up-to-date information on local sales activity and access to public records databases. Utilizing the MLS is instrumental in furnishing REALTORS® with the essential data required to make well-informed decisions regarding property pricing and negotiations and to keep abreast of prevailing market trends.

We’re only getting started on the 179 Ways, yet the multifaceted roles of REALTORS® are already evident, emphasizing that their value extends far beyond what meets the eye. Throughout this year, I will highlight more of the 179 Ways. In the meantime, be assured that REALTORS® are dedicated professionals committed to navigating the complexities of real estate transactions with expertise, ensuring their clients' success in buying or selling their properties. That’s Who We R®.