Polles Properties https://pollesproperties.com Thu, 20 May 2021 14:20:09 +0000 en-US hourly 1 https://wordpress.org/?v=5.6.5 THE VALUE OF A REALTOR® IN A SELLERS’ MARKET https://pollesproperties.com/2021/05/20/the-value-of-a-realtor-in-a-sellers-market-by-kathy-whitfield/ Thu, 20 May 2021 13:59:53 +0000 https://pollesproperties.com/?p=32327 I think we can all agree that we are living in historic times. Undoubtedly, we will be sharing with our grandchildren about the Great Pandemic of 2020 and the first...

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I think we can all agree that we are living in historic times. Undoubtedly, we will be sharing with our grandchildren about the Great Pandemic of 2020 and the first time in modern history that the entire world came to a screeching halt. Streets and businesses were empty, parents became instant schoolteachers and church members had to worship from their living rooms. None of us could have predicted that we could experience such unbelievable and frightening times.

To date, the 2021 real estate market has been extremely active, and is a much-needed positive and welcomed experience after a difficult 2020. The energetic market is being driven by historically low interest rates, the desire of consumers to return to normalcy, and the rise in first-time buyers. Lower interest rates mean a lower monthly payment. Because of that, many buyers can qualify for a more expensive home than they might qualify for at a higher interest rate. Being able to afford a home that is listed at $50,000 to $100,000 more than the buyer had originally hoped creates an urgency to make a move while rates are so attractive.

For many buyers during the first few months of 2021, the availability of homes to purchase has been a challenge. The shortage of available listings has been affected due to many sellers deciding to refinance the home they have grown to love, and the inability of listed properties to keep up with the unprecedented buyer demand. Real estate agents and buyers have faced the competition of multiple offers, and many buyers have lost their dream home to seller-accepted contracts with offers above list price. Many “winning” offers have removed contingencies for home inspections, repairs, financing, and appraised value hoping to entice the seller to consider their offer. The prevalence of this type of offer has often meant a guaranteed list or possibly above-list price for sellers if their home is appropriately maintained, staged, and priced for the current market.

As a 29-year veteran REALTOR®, I have never experienced a time when using a real estate professional to buy or sell a home has been more important. An agent’s ability to negotiate, creatively market, avoid future liability and prevent transactional pitfalls are just some of the invaluable skills that a home seller cannot afford to ignore. Although sellers may perceive this market as easy and predictable, the hidden logistical and contractual crises that could arise might potentially rob them of time, money, and heartache that could easily add up to more than the cost of using a licensed agent.

For a buyer, the use of a REALTOR® in today’s market is equally important. The agent’s ability to identify a home’s value, negotiate on their buyer’s behalf, and to counsel them in areas that could potentially prevent future or long-term issues with their selected home are invaluable. Those areas of expertise are essential in an extremely competitive sellers’ market. Providing representation for the buyer with an unrepresented seller is particularly essential in assuring disclosure of the home’s condition and assessing list price. Serving as an intermediary and advocate in all aspects of the transaction are skills that are priceless to buyers and should be considered before entering a binding legal contract with an unrepresented seller.

Representation by an experienced REALTOR® who knows the market, understands the transaction, has knowledge of all aspects of financing, and has mastered the art of negotiation have always been the most valuable areas of proficiency offered by real estate agents. The expectation of consumers and their need for a skilled professional are both equally important and worth the cost in today’s market. If you or someone you know is looking to buy or sell a home, make sure that you secure the help of a REALTOR® in making the biggest purchase of your life.

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Why use a REALTOR®? https://pollesproperties.com/2018/02/05/why-use-a-realtor/ Mon, 05 Feb 2018 15:04:20 +0000 https://pollesproperties.com/?p=2077 As a life-long learner and professional information addict, I discover another exciting mobile or online product to market real estate every day. While revolutionizing the instant access to data and...

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As a life-long learner and professional information addict, I discover another exciting mobile or online product to market real estate every day. While revolutionizing the instant access to data and the dissemination of information, innovative marketing tools like drone photography and virtual walk-throughs have developed a level of independence with consumers in the home buying and selling process.With the increased availability of information to the public, the perceived need for a real estate professional has changed and a false sense of self-reliance has developed. Often in an attempt to save money, consumers underestimate the long term effects and risks of overseeing the process without the assistance of a REALTOR®.
It is essential to understand and identify the significant value of the real estate professional to the process when it comes to the most important financial decision that most people make. That being said, what makes the use of a REALTOR® significant?

  1. REALTORS® possess an expertise of the issues, disclosures, documents and lending processes that are unique to real estate. They know the matters that should be discovered, addressed and negotiated that affect the consumer’s safety, financial investment and process of getting the transaction to the closing table. REALTORS® can request documentation and information that may impact the property’s value for years down the road.
  2. REALTORS® serve as an advocate and intermediary between the parties to the transaction.
    One of the most frequent issues that “for sale by owners” experience is that the face-to-face responses from the other party are inhibited. By utilizing real estate professionals in the transaction, the difficult job of communicating concerns, offers or counteroffers directly is eliminated and can be negotiated on your behalf.
  3. REALTORS® have access to proprietary information and access to more properties. Because of their license and their Multiple Listing membership, they are able to acquire information not readily available to the public such as sold prices, comparable market analysis and showing availability.
  4. REALTORS® do the work for you. They know the people and places to go to find out vital information related to your property sale or search. They can do the leg work and deal with the immense logistical issues involved in marketing or closing your property. In addition, transactions negotiated and supervised by REALTORS® have a higher incidence of successful closing.
  5. REALTORS® adhere to the Code of Ethics. Not all real estate licensees are REALTORS®. Those who have membership are not only members of their local REALTOR® association, but are also members of their state association as well as the National Association of REALTORS®, the largest professional trade association in the United States. With over 1.3 million members, REALTORS® adhere to a strict code of conduct that guides the transaction process that doesn’t necessarily guide the process for consumers.

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