Out and About in Wickford RI: Why do I Need a Real Estate Agent | From Buyer to my Ears

Why do I Need a Real Estate Agent | From Buyer to my Ears

Why do I Need a Real Estate Agent | From Buyer to my Ears

 

So you are looking to buy a home without a real estate agent and say to me I don't see why I need one?  For someone who has owned a RI real estate
piece of RI real estate before or has not, the same reasoning applies.  You need to know the touch points that give you the expertise in the real estate field.  Why? Because today home buying can be a lot like doing the home buying limbo.

To ensure you get the best deal negotiated, at the right sales price, for the right home, right home inspector, true market comparable sold measurement stats, find out the true house history, discover facts about a neighborhood important to the transaction and ensure you are protected.  

Sure some home buyers may not need a RI real estate agent to guide them but will they probably pay more for their home without a real estate agent. 

In fact, the National Association of Realtors (NAR) says 22% of homeowners pay for their home without a real estate agent based upon current studies of past buyers.  When a real estate agent aka, buyer’s agent represents you, you are depending on someone who has expertise that you do not have. You don't do a repair job you have no idea how to do so why would you buy a home when you have little knowledge of all the various and difficult steps that need to be done right. Hire a professional who knows how to represent you and negotiate for your interests in the real estate field. And yes, at NO cost to you since the seller pays the fee.

Home buyers questions to ask yourself :

- Do I understand the current local real estate market to ensure I am not overpaying for a home?   Sites like Zillow and Trulia use averages on a geographical area, have no idea of updates in a home and are not accurate for comparable sale data.

- Can I research septic and sewer needs and requirements, easements/rights of ways, new construction issues and inspection clauses?

- Understand zoning requirements?

- Interpret flood maps, flood insurance and Coastal Resource requirements and Environmental impact restrictions on property you are considering buying?

- Can you negotiate well and skillfully?  It is an art to negotiating a sale for many a home deal has gone belly up because of the lack of skill sets here.

- Putting together the RIGHT team to get the home sale done.

These are just some on the concerns and questions you need to ask yourself.  If you can do all of the above, you probably can represent yourself.  But otherwise why would you be your own real estate agent and take the chance of leaving money on the table?  I certainly can be of service to you in the RI coastal  landscape.  It is my business to know RI real estate inside and out.  RI coastal and waterfront real estate is my forte.  If you need assistance, please reach out to me and call me Ginny Lacey Gorman at 401.529.7849.  Why do I Need a Real Estate Agent | From Buyer to my Ears.

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 Ginny Lacey Gorman is a Rhode Island coastal Real Estate Agent who works and knows the south county RI geographic area of homes for sale, schools, happenings and important tidbits of information well.
 
Coastal, water view, ocean front, luxury and waterfront Rhode Island real estate are my specialty.  If you are considering Buying, Selling or Relocating to Rhode Island and need a real estate Professional it would be my pleasure to help you!    When you are in need of an internet savvy RI realtor® who sells homes in this real estate marketcall Ginny today at 401.529.7849 or email at Ginny@RiHouseHunt.com. 

This blog © and its contents is original to Ginny Lacey Gorman

the RI waterfront Realtor of Choice

 

Ginny L. Gorman, a purveyor of Fine RI Waterfront Real Estate   

Specializing in waterfront, ocean front, vacation, coastal and luxury homes for sale in North Kingstown, South Kingstown, Narragansett, Jamestown, Charlestown, East Greenwich, Exeter, West Greenwich RI and beyond ...  I sell dreams!  Because there is no place like home...the RI Real Estate Agent in the Sparkly Red Shoes.

 

Looking for a knowledgeable Rhode Island Real Estate Agent?  Let me GOOGLE one for you!

            

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cell: 401.529.7849      Ginny Lacey Gorman, Realtor

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Comment balloon 31 commentsGinny Gorman • May 16 2013 03:37AM

Comments

Great Post.  Most buyers do feel like they do not need an agent to buy a home with websites such as Zillow or Trulia.  However, they are not aware that these websites property estimate can be off as much as 50%.

Posted by Keith Lawrence, ABR, CDPE, SFR, 203K Specialist (RE/MAX Properties) over 5 years ago

When you are in need of an internet savvy RI realtor® who sells homes in this real estate market, call Ginny today at 401.529.7849

Ginny is the local expert.

Posted by Gita Bantwal, REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel (RE/MAX Centre Realtors) over 5 years ago

Good Morning Ginny:   Great Info for all in the market,  keep up the good work and good luck with your business,  E

Posted by Ed & Tracy Oliva, The Oliva Team Arizona Agents (West USA Realty - Arizona) over 5 years ago

Good post explaining your value to homebuyers. You live in a wonderful area!

Posted by Brad MacKenzie, Turning Houses into Homes on the South Shore (Brad MacKenzie) over 5 years ago

Most buyers don't want to use an agent because they think they're going to save 3% which generally sin't the case. 

Posted by Marc McMaster, Putting my clients before myself (RE/MAX Centre Realty) over 5 years ago

in terms of dollars $$$  Zillow and Trulia  can be up to $50,000  off  that's a lot of money for a buyer or seller to gamble on with one of your biggest assets

 

Posted by Karen Ann Martin, Realtor Fall River Westport MA Real Estate Agent (Safe Harbor Realty ) over 5 years ago

Ginny: You are absolutely right and spell out many of the reasons that hiring an agent is smart business!

Posted by Anita Clark, Realtor - Homes for Sale in Warner Robins GA (ColdwellBanker SSK Realtors ~ 478.960.8055) over 5 years ago

I wouldn't defend my value.  I wouldn't even answer the question.

If they can handle their own transaction, why are they even calling. 

 

Posted by Lenn Harley, Real Estate Broker - Virginia & Maryland (Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate) over 5 years ago

Good morning Ginny,

Congratulations on the well deserved post! You did a great job in explaining why a buyer needs to utilize the the services of an agent...so much more than just opening doors:). To me this kind of question is like waving a red flag in front of me!! There are so many wonderful sellers and buyers who call me asking to help them in an transaction. They are from the community I market, a personal referral or past client. Just yesterday I closed a delightful couple referred to me by past clients. They were appreciative of my time and guidance and I enjoyed helping them through the process. Someone who would start out asking a question like that I would probaby pass on!! Only so many hours in a day and they won't be spent working with clients who don't value my services - I could be with one of my grandchildren or on a date with my Geno:).

Posted by Dorie Dillard CRS GRI ABR, Serving Buyers & Sellers in NW Austin Real Estate (Coldwell Banker United Realtors® ~ 512.346.1799) over 5 years ago

Thanks all and it needs to be said...I didn't really defend my value..I feel it is ever present to ones who appreciate it.  They know!  Yes, Zillow and Trulia are what people use so you need to know that and deal with it...plus when I can be planting in my new garden, why would I help someone who just doesn't get it and refuses to understand the home buying process?  I'm planting for a couple of hours today btw!  Time deserved.

Posted by Ginny Gorman, Homes for Sale in North Kingstown RI and beyond (RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate) over 5 years ago

Lenn is right - those that don't think they need an agent don't appreciate our value, and don't know what they don't know!

Posted by Brian Schulman, Lancaster County PA RealEstate Expert 717-951-5552 (Coldwell Banker Residential Brokerage, Lancaster PA) over 5 years ago

Ginny, good points for the buyer who asks. The bottom line is a buyer rep can only help in their transaction process. What do they have to lose?

Posted by Michael Setunsky, Your Commercial Real Estate Link to Northern VA over 5 years ago

Ginny Gin... this is a subject that bears repeating...Anything extra-ordinary and expensive requires research, discussion and a team effort now a days...Real Estate is a team sport and professional players go at it

Posted by Richie Alan Naggar, agent & author (people first...then business Ran Right Realty ) over 5 years ago

Ginny, great post, and it is true, they CAN buy and sell themselves, but at what cost?     It is proven we can bring more dollars in than selling FSBO.

Posted by Joan Cox, Denver Real Estate - Selling One Home at a Time (Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373) over 5 years ago

Tmely post Ginny!  Just recently spent entirely too much time demonstrating my value to a buyer customer only to have them go directly to the builder in hopes of saving money/my commission on their custom built home.  Little fo they know that for the area and intown lot they have selected, they are/will over pay when it's all said and done.  Some people think they know more than the professionals.  NEXT!  

Posted by Ron Tissier, Defining Homes. Defining Lifestyles. (Chapman Hall Premier Realtors (404) 580-9069) over 5 years ago

Hi Ginny.... good post.... my only response to them would be to call an attorney because they'll need to pay legal fees to get themselves out of whatever mess they fall into, and they will be certain to do that.

Posted by Barbara Todaro, "Franklin MA Homes" (RE/MAX Executive Realty ) over 5 years ago

Hi Ginny, I like the fact how you have broken down these important issues. Research is always the best thing to do before engaging in any endeavor espacially  those you are not so familiar with. 

Posted by Ridhi Raheja, FHA, 203k, VA, Jumbo, PreApproval, Jumbo Home Loan (Movement Mortgage (Illinois)) over 5 years ago

If someone thinks they don't need a realtor, well... we know what is going to happen at some point.  

So now I really qualify those folks who try to get as much FREE info out of me as they can. They are the same ones who will go out and close a deal without me. Unfortunately, they may never know how much it cost them to do it themselves.  

Either hire me or not, just don't waste my time! 

Posted by Sheri Sperry - MCNE®, (928) 274-7355 ~ YOUR Solutions REALTOR® (Coldwell Banker Residential Brokerage) over 5 years ago

I love that question and like to have fun with it. I always tell them of course you can do it yourself without a real estate agent, does that mean you intend to look at only houses that aren't listed with an agent? Have you selected a real estate attorney yet to review any contracts etc so as to make sure your not being taken advantage of by some owner that thinks he has a live one? You want to make sure that you protect yourself so get a good one that specializes in real estate.

There are all kinds of fun questions that should reveal whether they are idiots or recipients of bad info. I was once the FSBO king in my market place before I became investment oriented and found that many fsbos were the product of being a buyer of a fsbo, and then finding out they as buyers lost in the deal and now wanted to do the same to someone else. Those fsbo sellers that won in their deal are the fsbo you won't list anytime soon if they are trying it again. Just a little tip, I always asked at a listing presentation when did you buy the property and do you remember what company it was listed with. If I hear, oh we bought it from the owner, you may have a future fsbo just gathering information and that is the real reason your walking away without a signed listing agreement.

Posted by Brian Park (Park Realty Investments) over 5 years ago

Well I hope this post gets into the hands of the right buyers today!

Posted by Ginny Gorman, Homes for Sale in North Kingstown RI and beyond (RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate) over 5 years ago

The listing agent works for their clients, the sellers.  End of story.  If an unrepresented buyer communicates with them, they have no duty to the unreprensted buyer.  They do, however, have a duty to the sellers - their clients.  Anything the unrepresented buyer tells them, the sellers know too!

Posted by Carla Muss-Jacobs, RETIRED (RETIRED / State License is Inactive) over 5 years ago

Yep, Carla said it - the listing agent works for the Seller. Why would any Buyer want to venture into purchasing a home without their own personal representation is beyond me.

Posted by Lori Cain, Midtown Tulsa Real Estate Top Producer (eXp Realty) over 5 years ago

Ginny, as I commented on Lenn's re-blog of your blog.  I have a blog in draft about why Buyers and Sellers need to use a Realtor.  Of course for me it is from kind of a selfish point of view that I am writing it because I want my transactions to go smoothly, and that rarely happens if a Realtor is not involved.  When a Realtor is not part of the transaction, the Borrower seems to think that I will fill that roll, and that is a line that I will not cross.  It they expect me to be giving them information that the Realtor should be advising them on, they can go some where else for the mortgage.  Trying to play the roll of LO and Realtor is a train wreck waiting to happen.

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) over 5 years ago

Just closed for a buyer an Edmond Oklahoma home that was listed by an out of state order entry company. The result was a $350,000 sale with a minimum of $35,000 equity, $6000 in closing cost paid for the buyer, and repairs. So how much was the savings for not paying a sellers side commission compared to that?

Posted by Joe Pryor, REALTOR® - Oklahoma Investment Properties (The Virtual Real Estate Team) over 5 years ago

This IS one of those DUH moments when you look at that person and can't believe what they just said. Then when the deal goes south (and some do) they now ask for you to bail them out..

Posted by Robert L. Brown, Grand Rapids Real Estate Bellabay Realty, West Mic (www.mrbrownsellsgr.com) over 5 years ago

There are a lot of people who think they know it all. YES they need an agent.

Posted by Ellie McIntire, Luxury service in Howard County & Catonsville (Ellicott City Clarksville Howard County Maryland Real Estate) over 5 years ago

Great post!

I have done a number of transactions where a Realtor was not involved. It never goes well, between inspection issues, between appraisal issues and between last minute disagreements between parties, it is always a problem. 99% of properties sold should have Realtor representation.

Posted by Joe Petrowsky, Your Mortgage Consultant for Life (Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709) over 5 years ago

I so agree...I want no more DUH moments in my realtor life!  

Posted by Ginny Gorman, Homes for Sale in North Kingstown RI and beyond (RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate) over 5 years ago

So True Ginny, we dont need to hire an expert, but is sure makes a difference to have an expert when dealing with something as important as a home.  Some folks never learn this, others do, sometimes the hard way.

Posted by Bob Crane, Forestland Experts! 715-204-9671 (Woodland Management Service / Woodland Real Estate, Keller Williams fox cities) over 5 years ago

I doubt most buyers I have ever worked with could have attained the same results on their own. I know why they needed me. After the transaction they knew as well!

Posted by Gary L. Waters Broker Associate, Bucci Realty, Fifteen Years Experience in Brevard County (Bucci Realty, Inc.) over 5 years ago

I think HGTV is leading a lot of people to believe they can do without Agents. Buyers who elect to go without an Agent will most likely not do as well as if they had representation.

Posted by John Mosier, Prescott's Patriot Agent 928 533-8142 (Realty ONE Group Mountain Desert) almost 5 years ago

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