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Updated almost 4 years ago on . Most recent reply

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Henry Paarz
  • Real Estate Agent
  • Greater Philadelphia
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How much value do you place on a Full-Service Realtor?

Henry Paarz
  • Real Estate Agent
  • Greater Philadelphia
Posted

I noticed this podcast in the news the other day... https://www.bizjournals.com/au... and objectively speaking as a consumer who seeks to find true value, is it worth more to go with a Full-Service Realtor who is incentivized to find the best deals for their customer or; to go with a business model which emphasizes quantity over quality, potentially leaving $ on the table as well as lack of personalization?

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Bruce Lynn#2 Real Estate Agent Contributor
  • Real Estate Broker
  • Coppell, TX
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Bruce Lynn#2 Real Estate Agent Contributor
  • Real Estate Broker
  • Coppell, TX
Replied

In my 20 years of experience, I would say most people over simplify the experience and the process and have a hard time determining what value any one particular realtor offers.  For example after 20 years I know the softball inspectors from the hardball inspectors.  I want my buyers to have the toughest most detailed inspectors out there to inspect their buy and give them as much information as possible about the house.   Many buyers think it is as easy to go on Yelp and pick one.  But where do the inspectors get those reviews....most will be from a one time encounter from a buyer who really doesn't know a bad or good inspector from a great one after one inspection.

I can tell you in Texas I am licensed to do business anywhere, but if I were buying a property in Amarillo, El Paso, San Antonio, Houston or some other city I don't know, I would be hiring a great buyer's agent.  One that will know which side of the tracks I should be on, knows information about schools, and economic development changes, knows which neighborhoods have good or bad reputations, etc.  Where the new trader joes is going in, things like that.  I don't know the first thing about Houston...I also don't know the market there in terms of contracts....how much option money, how much earnest money, how much down is the norm and the difference that will win me the offer.   

A great realtor can save you money in so many ways...like picking the right lender.   Online reviews don't tell you what the closing costs are....  I see closing statements.....so I see the fees and interest rates.  It's strange to me people focus and negotiate $2000 or $3000 on the price of the house, and then choose a horrible lender that could cost them thousands in fees and interest.  Get the right realtor and they can recommend the best vendors that might save you a ton of money in other areas.

If you're choosing a burn and churn broker, they have to make the volume and may not go to inspections with you or closings with you or take the time to keep a list of the best vendors and trades you will need over time.  There's all kinds of models out there that work.  Some people want McDonalds, some want the Palm, and some people want something in between.  You just have to figure out what you value and what you don't.

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