The short answer is: “You Don’t Know What You Don’t Know”
For the purposes of this discussion, when I refer to a REALTOR®, I am referring to a full-time, experienced REALTOR®, who averages at least 11 closings per year. For what it is worth, over 70% of RI REALTORS® do less than 5 transactions per year, which is why you should seek out an experienced full-time, REALTOR® to handle, what for most of us, is the largest financial transaction of our lives.
In essence, sellers are potentially exposing themselves to liabilities that may be unnecessary. Either as it relates to disclosure of information, utilizing correct forms to expedite the transaction, and the general practice know-how that protects buyers and sellers from liability. Experienced full-time REALTORS® guide and control their client’s transaction so purchases and sales happen on schedule, and the buyer and seller can easily transition to the next stage of their life. Additionally, REALTORS® know the market; we know houses, and we know sellers and buyers. It’s our job. Those of us that take our job seriously are continually learning, studying, reading and taking classes, so that we are aware of new regulations, financial instruments, and mortgage programs that best serve our clients.
As a full time REALTOR®, I make it my job to be aware of the latest financial incentives from housing authorities, tax incentive programs, mortgage programs from various lenders, and the latest guidelines from the government backed loan products (FHA and VA.) Being current on these programs gives me the tools to work with a full spectrum of clients, being able to assess their needs and help them best maximize goals.
REALTOR® Associations frequently change forms to accommodate the needs of members and consumers, so it is also part of my job to be aware of these changes and use the latest forms. These forms frequently have time triggers with deadlines which, if missed, could cost the buyer or seller A LOT of money. I take classes, attend webinars, and go to conferences to remain sharp and have the best skills, training, and tools for the benefit of my clients. I’m proud of this because it makes me extremely qualified to assist them with what I’ll mention again is likely the biggest financial investment of their lives. This requires a large time-commitment and a significant amount of mental “focus.” Most, if not all, of my top-producing colleagues approach their job in the same professional manner.
If a part-time REALTOR® has a “real” or “full-time” job, where would he/she find the time to do this? I say this not to throw anyone under the bus. I am not disparaging any REALTOR®; I am simply asking the aforementioned question.
These are just some things to think about as you consider hiring /working with a REALTORS®. I hope this post has giving you some food for thought, and I would love to discuss any of this with you and how it relates to your personal real estate needs and objectives. I look forward to hearing from you!