The Mortgage and More Blog

Archive for the ‘Realtors’ Category

Over my years of service in the mortgage industry, I have always encountered people that are out to save a dime. Now, before you get the wrong impression, I do not think that saving money is a bad thing. However, when it means that you need to cut corners, I think it is the worst thing that you can do. When it comes to Real Estate transactions, it is best to not go it alone. Too many times I have been speaking to an applicant that is looking to acquire financing to buy a home and learn that they are doing it without a Realtor. In my opinion, this is about as silly as taking a shower without the soap. The water can help knock off most the dirt, but the funk is still going to be there.

Whether you are buying or selling a home, when you decide to take it on by yourself, it is even more difficult. Not only do you lose the expertise of the Realtor of today’s market, you also lose their expertise in marketing. That is just the two things that are on the surface. You lose much more than that when you really get past the surface. A Realtor can instruct you on things that you do not know about, such as the benefits of a particular neighborhood that you might want to check out. Ultimately, going into a selling or buying mode for Real Estate without the advice of a professional is as bad of an idea as it would be to go to Alaska in the middle of Winter with just a bathing suit.

Where most people go wrong with this thought is they typically do not know the ins and outs of the Real Estate Market. Leaving your Realtor on the shelf might cost you money in the end at the closing table. You are basically leaving your negotiator at home. Would you want to have take on a hostage situation without the backing of the best negotiator on the police force? I do not think so.

So, before you decide that you want to list that home on FSBO.com or any other site that leaves out the Realtor, think about what I said. You might save the money on the closing, but if you misprice your home or have trouble with negotiating, you could lose even more money than you are saving. Oh, and before I forget this most important fact; time is money. How much is your time worth?