A Realtor's Life Behind The Scenes

Have you ever wondered what a Realtor actually does?

Many people feel that real estate agents just show houses and collect commissions. Not true. And since we make the transaction go so smoothly, we may leave you with the impression that the job is really easy. Not always--and that's why Realtors are so worth the investment. As Realtors, we are continuously learning about the real estate market and staying abreast of what is changing in order to stay competitive. Here in Pittsburgh, it may include identifying that up and coming hot market. That's why we also take continuing education classes to provide you with the best service. And those of us who are allowed to use the term Realtor® adhere to a Code of Ethics that go above and beyond the conviction of those real estate agents who have not joined our own trade association, the National Association of Realtors (NAR).

Following are some of the various stages of a real estate transaction including some of our responsibilities when representing you...and a hint as to what we do for you that you may never see.

1. Prior to the Sales Agreement

Besides providing a market analysis and keeping informed on local market tremds, we set up searches for clients based upon their specific criteria such as price, location, type of housing and such. It takes a good listener to really understand your plans and goals. Some activities are different when representing buyers versus sellers or residential versus investment properties, but many things are common such as coordinating showings, keeping the lines of communication open with all parties of a transaction and plenty of followup. With sellers, besides creating and updating the MLS entry, it's making sure your home or investment shows well during private showings and open houses. It's constant marketing and ensuring that your home/business stands out visibly against all other homes/business on the market whether that be through physical means or social media avenues. With buyers, not only is identifying properties and pulling comparables important, but so are coordinating the showing arrangements, touring the property, analyzing the property and providing feedback in order to aid in making a decision to purchase. This is why obtaining a loan pre-approval is crucial prior to actually seeing a property. You want to know how much you are qualified to buy to narrow your search to a manageable end result. Once you find the property that you want, we talk about making the offer they "can't refuse". For our Sellers, a good Realtor follows up every showing of your property to obtain interest level and provide you with feedback so that jointly we can adjust to suit the immediate needs of our prospective buyers.

2. The All important Sales Agreement

When it's time to make an offer on a property great negotiation skills come into play, Drafting the sales agreement and getting all parties on board with proper signatures are the mechanics prior to acceptance, but there is so much that goes into getting to that point. When representing sellers, it's important to look at all offers, compare and provide advice. With buyers, it's studying the disclosures and strategizing on how to structure the offer, including communication with the sellers agent and negotiations back and forth until a deal is secured. You may only hear the end result of the negotiation but there are numerous calls/texts that go into representing you strongly during the talks. Once your offer is accepted and as a buyer your earnest money is properly delivered, the real fun begins as there are several people involved to solve the puzzle of getting you to the finish line. And your Realtor becomes the director of the group!

3. Period between Sales Agreement and Closing

Both for home buyers and sellers, this stage is when you need the expertise that Realtors offer: scheduling, coordinating and keeping things in an orderly flow . Coordinating the team of people crucial to get the sale to closing such as inspectors, contractors, lenders, appraisers and title/settlement companies falls upon the Realtor. Often we must be physically present when any inspectors and contractors are in the property prior to sale. Many times we also have occupancy inspectors, plumbers for dye tests, home owner's associations to contend with as well as the translation of inspection reports to determine what repairs are necessary for safety and/or type of loan obtained versus those that are purely a request. There is a very strict timeline to adhere to in order to successfully get to closing. Keeping the buyer and seller in compliance with the contract to make sure that all of the terms, conditions and contingencies are followed in the time frame agreed upon is crucial. Just before closing, we help to review settlement documents to ensure that the financials are in order, home warranty is ordered, you have home owner's insurance in place and we're ready to close.. Also we remind you to schedule the utilities. And then at last we are there.....The home stretch......

4. Closing

As your agent, we'll make one final check of the details while monitoring the financials for accuracy and supporting you at the closing table...and...drum roll please... We've made it...here's your keys!

In conclusion, there is so much to a Realtor's life in helping you find that perfect home, investment property or business location. While it's always your choice to use or not use a Realtor, it may cost you more in the long run should you choose not to use a professional. Just like you wouldn't want to operate on yourself, or represent yourself in court, you probably don't want to deal with all of the intricacies of a real estate transaction. Many curve balls can fly by behind the scenes so......

Wouldn't you want the advice from an expert in the field?