According to Chris Polychron, President of the National Association of Realtors, there are about 1 million Realtors in the United Staes, and they are closing approximately 90% of the residential real estate transactions. Polychron goes on to say that in 2014, only 6% of sellers successfully sold their own homes. I’m willing to bet more then 6% listed their own homes, but then decided to hire a Realtor once the frustration set in.
Why is this the case? Because putting a sign in your yard, paying a broker $400.00 to list your house on the Multi-Listing Service (MLS) website, and creating Zillow and Trulia profiles is the easy part and it’s only the beginning. Determining the optimal list price, staging the home, additional marketing of the home to gather more offers, negotiating the sale, executing the contract, making sure the inspection goes well, and preparing everything for a timely and successful closing are all things that most DIY sellers don’t consider and more importantly can’t handle. That is why 94% of the home sellers in 2014 were willing to give 6% of their earnings to a broker. Sellers want to sell their home as quickly as possible, for the highest net amount, and with the least amount of stress possible. Even in a sellers market, it’s tough to accomplish all that without a good Realtor.
With regard to home buyers, it’s easy to surf the web and find a house that looks nice. What about submitting the perfect offer that is affordable for the buyer, but will also beat other offers? That can be tricky. What about finding the right lender and title company? Problems arise in those areas quite often. Real Estate is a local business, and no one knows more about the neighborhoods in their region than a good Realtor.