I’m sure that buying or selling a house in a large city would pose challenges that we simply don’t face in Jackson County, Indiana, or other small cities and towns. Still, there are factors that apply no matter where you are in the world that make up the 3 primary reasons why I’m glad I’m not a realtor.
ONE: Sellers don’t NEED you.
The market has evolved to be software driven — so many websites and apps for buyers and sellers are available — and then, there’s Facebook and other social media outlets. I posted on Facebook that I was *THINKING* about selling my house in Crothersville and had a firm offer (the exact amount I was asking for the property) long before I had it ready to sell.
TWO: Buyers can do more now than ever before without a realtor.
Of course, you need a relator to get inside homes listed with an agent. But, real estate agents don’t inspect houses, they do not have power of attorney, they do not provide deeds, they do not provide financing, and they do not provide insurance, etc. You can research properties (and drive the neighborhood with Google Maps), call your bank, insurance agent, home inspector, and favorite attorney all by yourself.
THREE: When there’s much you can do on your own as a buyer/seller in today’s market, loyalty isn’t always enough to keep customers willing to pay your commissions.
I’ll call my realtor — as opposed to any other real estate professional — to show me properties that are agency listed because I’m loyal to him. I’m giving him (instead of any other agent) the opportunity to receive commission by selling me a house. However, if I find a house on my own that’s ‘for sale by owner,’ why exactly would I pay him commission?
Same for selling — if I choose to take advantage of the professional services offered by a realtor then I should pay commission. Knowing I’m interested in selling, if he brings me a buyer, he deserves commission in that instance, as well. But what if I choose to take advantage of the tools available in today’s market and sell on my own and attract a buyer without assistance?
I’m sure glad I’m not a realtor in today’s market. I figure I’ll stick with booking speeches and use my commissions to buy more toys for my puppies — because they deserve them. 🙂