When you boil all of the fat out of the Process of Buying or Selling a house, you’re left with 4 primary components.
The client (Home Buyer or Seller) has the responsibility of making ALL of the decisions based on personal wants and needs and tolerance of risk/reward . . . and influenced by the professional counsel of the Real Estate Sales Professional who knows the local market and customs.
In addition to providing advice and counsel, the REALTOR’s job is to manage the process and keep things moving along in a timely manner . . . and to keep the transaction within Legal and contractual boundaries.
The past several years have presented some new and interesting challenges for everyone participating in real estate sales transactions.
Wildly shifting economic conditions, governmental regulations, and rapidly evolving internet tools have created what we might call a cacophony of raplexity.
As soon as we think we’ve got a grip on things, someone moves the cheese.
For sure, ALL of this affects the flow of the process of Buying or Selling a house.
Most Prospective Home Buyers begin their home search MONTHS (even YEARS) prior to making contact with a REALTOR. Today’s Buyers begin on the internet and research neighborhoods, watch listings come and go, and do their own internet Market Analysis. By the time they’re ready to engage a REALTOR, they are VERY knowledgeable.
Back in the day, the “Search” function was almost entirely a REALTOR Propriety function because only the REALTOR had access to the Multiple Listing Service.
Nowadays, most Buyers are doing the majority of the “leg-work” themselves – First surfing on the internet, then driving the neighborhoods . . . I’d venture to say that the average home buyer of today actually walks into a fraction of the number houses that buyers 10 years ago toured before writing an offer . . . maybe as few as 25%.
This dynamic of the search component of the process ups the ante for REALTORS AND Home Sellers.
REALTORS must KNOW the market better than EVER because their Buyer Clients are more informed. I believe the Niche Specialist has a REAL advantage in this environment because this person is an EXPERT on the LOCAL market. Informed Buyers EXPECT this and won’t tolerate less.
Home Sellers in search of the perfect BUYER for their house must also be on top of their game. Curb appeal, condition, and showability are essential. Today’s Buyers are VERY discriminating and will not tolerate anything less than stellar . . . beginning with the photos in the on-line marketing.
It’s imperative that the house be as perfect as possible . . . The photography must SHOW this perfection (Hire a professional) . . . and there can’t be any “fluff” . . . No trick photography or flowerdy language that paints a prettier picture than what they’ll see when they come to see the real thing.
In the coming weeks, I will be facilitating weekly Mastermind Sessions about the 4 components of the Real Estate Transaction.
We will explore issues and opportunities relative to each with the ultimate goal of learning ways to serve our Home Buying and Selling Clients BETTER and more efficiently.
The first of these sessions is Wednesday November 20 from 10-12 . . . with FREE LUNCH provided by On the Move and Pillar to Post.
At Pareto Realty, we say that we “Practice” Real Estate Sales and Consulting just as other professionals practice their fields (Doctors, Attorneys) . . . and to do this well, we must sharpen our saws frequently.
Join us if your saw is dulling.