Value of estate agents ?

[Tyler Zwart]

Hi Guys, 

I have this crazy idea to sell houses without estate agents. There are numerous benefits to this other then the obviously huge financial benefits as an agents commission on average of 5% is not needed to be paid by the seller. 

I wanted to get some view points and ask you guys, do you see value in estate agents ? or would you, as a buyer, be prepared to walk through houses without one and/ or would you, as a seller, be prepared to sell without one provided there is the necessary support, protection and transparency to make you feel comfortable? 

Do you find estate agents a necessary tool to use when selling a house? or do you only use them because its the only option you have ? or do you only use them because you do not actually know all the steps to selling your property which could make you feel overwhelmed ? 

What if there was another way ? Away to save the seller money, and to give the seller control of the deal. Away for the buyer to have constant communications with the owner and real time updates with regards to their purchase, removing the agent and the real issues of communication delays and human error.. 

What do you guys think ? is the traditional estate agent a ' dinosaur' or are they still necessary ? Would you be prepared to buy a house without one or sell a house without one? 

I hope to hear back from you guys and look forward to your insight and input! 

Warmest regards,

Tyler Z

[Charlie MacPherson]

@Tyler Zwart  OK - so you have the ability to schedule showings online.  That is SOP for Realtors and has been for a very long time.

Rating clients...yikes.

Do you know how to steer clear of Fair Housing violations?  Realtors do.  

Do you know how to tell whether the pre-approval is worth the paper it's printed on?  Realtors do.

Do the buyers know how to run valid comps?  Realtors do.

Do the buyers know what to look out for when touring a house, without paying hundreds to a home inspector?  Realtors do.

Do the buyers know how to write a contract with the right contingencies to protect them?  Realtors do.

Do the buyers know how to negotiate repairs based on inspections?  Realtors do.

This part is actually funny: "This is where the agent is ejected and the process runs smoothly and hassle free."  This statement demonstrates a profound ignorance of the real estate sales process and the issues that Realtors routinely have to overcome.  It's akin to describing a nuclear reactor as "you put in uranium and electricity comes out - risk-free."

All I can say is that it sounds good if you say it fast.

I remember something Donald Rumsfeld said during Gulf War 1.  (Paraphrasing) "There are the things that we know that we know.  There are things that we know that we don't know.  Then there are things that we don't know that we don't know."

You're at the last step - there is a gargantuan mountain of information, gained through training and experience, that you don't know that you don't know.