Agents Charge A Lot For What

Dated: 02/03/2016

Views: 455

Agents Charge a Lot—for What?

Potential Seller:  How much work is it to list a home?  It sure looks like agents prepare a quick market analysis, snap a few pictures, ask a ton of questions and sit back and wait for other agents to show the property.  Then, if the seller asks often enough, they maybe do one or possibly two open houses.  They call me to say there is an offer and then suddenly, we are moving out and closing day is here.  I wish I could do so little for such a big slice of the pie!   Is that REALLY all there is to it?  

Agent:  Let’s skip past the advertising the agent does before you contact him or her and get right to preparing the market analysis.  I obviously can’t speak for anyone but myself, but I actually spend time studying the neighborhood, look at each recently “Sold” property and compare them.  The reason this is so important is so I be informed regarding the High-Median-Low price range is in a given neighborhood of similarly-sized and similarly-aged properties.   I prepare a packet of documents required for each client as well as several reports that I will leave with the sellers.  Once complete, I meet with the sellers and do a walk-through the home to gauge the condition and options included. 

Assuming I am selected to list the home, I will complete the documents required for the Multiple Listing Service and Central Scheduling Service and arrange for professional photos and virtual tour of the home.  I do each of these items anticipating seller approval.  I order postcards to mail out announcing the home for sale to the local area.  (Why?  Neighbors are a very good source of potential buyers for the home and may know someone who is interested in the location or neighborhood.)  Next, I schedule an open house or two on different days and at different times (trying to determine what works best for the neighborhood). 

The right buyer comes along and we have an accepted offer.  We move into the Option Period, negotiate repairs, handle communication between the parties, touch base with Title and the lender.  There are several “deliverables” with specific dates required through the process and it is the agent’s job to make sure items are available, delivered and receipt confirmed.  If everything was perfect, there might not be anything more to do except attend closing.  However, I have yet to see a perfect transaction!

Throughout the period between contract execution and closing, there are any number of issues that may come up such as negotiating the price of a refrigerator, trade-offs instead of repairs, desire to use a name other than the name in which the loan was approved, need to retro-fit and approve a foundation for a mobile home, verify and confirm a foundation warranty, have specific items removed from the property and more.  Each of these items requires time and attention—that’s my job (if I am your agent)!

The agent’s real work is to get the transaction to closing, ideally to the satisfaction of all parties.  Some may be more satisfied than others, but my goal is to make everyone as satisfied as possible with their “deal”.  That said, do I charge enough?  If you’d like to talk real estate—buy or sell—I’d love to talk with you!

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Sharon Miller

Sharon is a military wife who moved at the direction of the U.S. Army for nearly 30 years, a Federal employee who retired after 30 years of service, an active Broker Associate/REALTOR in San Antonio w....

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