RE Agency > Sold in 72 Hours. What Is Your Realtor Worth To You?

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In today's challenging housing market, sellers could only hope for a contract in 72 hours. Alot of reason to celebrate by then. However, after looking through the settlement statement and figuring out how much you may net towards the sale and how much your realtor (R) will walk away as payment for services rendered, some sellers do ponder on that line item #700 for a while. If your realtor(R) sells your house in 72 hours, is he/ she worth the fees charged?

When a contract is delivered 72 hours after it comes on the market, some of Sellers' feel that the realtor(R) that they hired did not market as much, or spend as much time on the listing, hence should not be paid as much as promised. Should that be the case?

Here are some of the thoughts:

A Realtor(R) who can produce a contract in 72 hours are a few and far between. If you could break down into a fine-tune list of what a real estate fee is made of, here would be a pretty complete list right up to listing the property, not including time for follow up once the property is on the market:

TIME FOR SPECIFIC SELLER PROPERTY

Time to perform market analysis
Time to visit/ preview homes within a target area to check out your competition
Time to go prepare for the listing appointment
Time at the listing appointment

TIME FOR MARKET STUDY

A good Realtor(R) is one who constantly work the field - not to necessarily door knock or cold call for more business but to actually visit homes and communities in the area he/she works in. When a new listing comes on the market, he/she knows about it, looks through the details of the listing and makes a mental note of it.

TIME TO PROCURE A LISTING

Realtors(R) use different strategies to procure clients for real estate transactions. Most of these strategies must be done repetitively in order to see success.

If these cannot convince you of why your Realtor(R) deserves the paycheck that he/she does when a house sells in 72 hours, I hope this one would:

You would hope that you will not pay your Realtor(R) the weeks and weeks that he/ she spend to market your property and you would hope that he/she would not spend too much money to print thousands of marketing flyers for your property. What you are paying for is the knowledge, experience and intellectual property of your Realtor(R) who knows how to get you the contract in 72 hours. When you hire a high-octane, high-production Realtor(R) who knows how to sell and knows what it takes to sell, that's where 95% of where the value comes from. The rest like flyers are just very minor.

A successful listing agent/ Realtor(R) who can produce time and time again is worth much more than the fees he/she charges. A short listing that leads to a successful sale generally causes the least amount of inconvenience to you and your family. Every Seller that has sold a house before know the pains of putting a house on the market while trying to live in it. It becomes even more challenging when you have little ones in the house. Hence, the faster you receive the contract, the faster you could move on with the sale, hence the sale.

So, the next time you ask your Realtor(R) How Much Do You Charge? Think again about what you are paying for. Time, convenience, knowledge, experience and intellectual property are the answer, not flyers, real estate sign and the lockbox.

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When she arrived for our appointment, we went through the normal preliminary procedures and all was fine. Then she surprised us. She had already done most of the work and only needed to take a few pictures of the inside and determine the price that we would be comfortable asking. She also spent a great deal of time explaining to us how the whole sales process work and what we could expect.

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Ultimately, Loreena introduced us to the house we bought--it was not one we found from our own hours of searching web listings--based on the the comments we had made while we visited these different homes. This is a testimony to her ability to listen well and to work proactively on our behalf.

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I just want to thank you again for your help in selling our house. In this tough economy and market, I really didn't expect to get an offer. But you counseled me so well in pricing the house to sell and yet not letting me accept an offer that was too low. I believe we got the best deal we could have. I was so pleased and surprised with what we walked away with.

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