Why Refer Your Realtor?
Because if he or she truly is good, others should know about them. We've all heard stories about bad real estate experiences in either the selling or buying process. If you just had a good experience, not only are you complimenting the Realtor who helped create this experience for you, but you are preventing the likelihood of someone else having a bad experience.
If your Realtor just sold your home in a few days and it seemed almost effortless, chances are it's because their expertise and experience created that scenario.
Headlines today talk about how the real estate industry is changing and how the consumer can choose the type of service they want without having to pay the 'exuberant fees' a Realtor charges. This is not new, as the consumer has always had choices. It’s just now with the speed of the internet, an active real estate market and the attention created by the Competition Bureau’s anti competitive law suit settlement that has brought this focus to the forefront. The challenge a majority of Realtors face is they don’t know how to objectively handle this and are hoping that in time, it will just go away. 'A consumer survey conducted by the Ontario Real Estate Association (OREA) showed that most consumers didn’t fully understanding the expertise and skills Realtors provide'. So why would some Realtors expect the consumers to know what they do when they can’t effectively communicate this?
Yes, the real estate industry is changing and the best Realtors are moving along in many cases with or ahead of this change. This does not mean, and I repeat, does not mean their fees for service get cheaper and cheaper. It means that the top Realtors have prepared themselves on how to handle the most common objections. Maybe it’s the consumer only wanting an MLS posting, the seller wanting to sell on their own because they believe there is not much to it, or its pricing or commission. Whatever it is top Realtors handle these objections in a way that is understandable by a potential client so the client can make an informed decision. They differentiate themselves from others and know how to effectively communicate these benefits. It’s been said that cheap is never cheap enough and that value always has a customer.
There are many, many good reasons, which I can explain. But the bottom line is that they know more than you do, they are better connected than you and are better negotiators than you. They also truly want your experience to be a memorable one (in a good way), so you work and refer them again and again. Having a top Realtor in your corner can and will save you time, money and stress. How?
When selling a home they can:
- Recommend a marketable sale price, taking into consideration current market conditions which will create maximum activity.
- Recommend what needs to be done to improve the saleability of a property so it can result in a quicker sale which alleviates undue stress for the Seller which can occur during the selling process.
- Share the security and safety benefits of always having a licensed Realtor accompany prospective Buyers on each and every visitation.
- Create and implement an online marketing plan to capture the awareness of the public, potential buyers and other Realtors.
- Council the Seller on how to prepare for and handle showings.
- Keep the Seller informed of what other Realtors think of the condition and show-ability of the property and objectively communicate what these opinions are so they can make further recommendations to improve the properties saleability. After all, one of the strengths of the Real Estate industry working in the spirit of cooperation with fellow Realtors.
- If a prospective Buyer likes the property, help them take action. This may not sound like much, but it’s not easy to do and is the number #1 benefit of a Realtor.
- When an offer is received, advise the Seller what the implications of the terms and conditions are in the contract they have before them.
- Suggest a negotiating strategy to help the Seller achieve their goals while removing emotional barriers which in most situations can complicate or end the sales process.
- Work within the parameters of all time lines to not jeopardise the validity of the contract.
- After a contract has been accepted, and if there are conditions in the contract, keep the Seller informed of the procedures and time lines that are crucial to the completion of the transaction.
- If there are complications or challenges in the meeting of the conditions by the prospective Buyer inform the Seller on how to best deal with them.
- Work on making sure all conditions are satisfied and paperwork is in order to complete the transaction for yet another satisfied Seller.
To be clear, I am talking about true experts, the really good Realtors who add value, who know what their unique service proposition is and can explain this benefit to their clients. Not the ones who are licensed and know every excuse why they are not selling. The best Realtors are essentially consultants because it is their advice, expertise, marketing, negotiating and people skills that add great value.
When you find a Realtor who shows these industry learned traits don’t keep him/her just for yourself, let everyone you know about them. Your friends, family, neighbours and colleagues will be glad you did.
Peter Sardelis CCIM
Century 21 Capital Realty Inc.