Why are real estate agents important? Well, rather than answer that directly, I’d like to give you some facts and scenarios and allow you to draw your own conclusions.
To start off with, 75% of real estate related law suits happen when one or both of the parties are unrepresented in the sale of the property.
With for sale by owner homes, 86% of those listed as for sale by owner eventually give up and hire a Realtor. Of the remaining 14%, half of the sales happen with someone the owner knew before listing it for sale (think of a parent selling the home to their child, etc.) and the other half end up selling their home for 10-12% LESS than market price.
Very often, the buyer and seller of a home are quite similar and what annoys one party also annoys the other, which makes sense, as they are both attracted to the same type of house.
I once had a seller receive a list of repair demands from a buyer in the form of an itemized spreadsheet that was completely priced out with a plethora of details. While this would be less than appealing to me if I had received it personally, my seller was able to respond in exactly the same manner and you could really see that they had similar thought patterns. By the end of this sale, however, the buyer and seller didn’t get along at all and they had me, the seller’s agent, and the buyer’s agent to help guide them to their end goal.
In the end, the buyer’s goal is to buy the house and the seller’s goal is to sell the house, but all too often, they can get stuck fighting over fridges and details, so an unemotionally attached third party to help guide them through the smaller sticking points and remind them of their ultimate goals can make all the difference.
So, why are real estate agents important? If you haven’t drawn any conclusions from this article, you’re welcome to read any of my reviews on either Google or Facebook and you’ll see the difference a real estate agent (especially a dedicated one!) can make to their buyers and sellers.