Uncategorized March 2, 2015

Real Estate Brokers Have Children to Feed Too

~~“I don’t really need an agent to buy this house, do I?”  This is what I heard a lady say to the Buyer’s Broker in a new construction model home.  I was waiting for my client to arrive while I watched this interaction.  Actually, I didn’t so much as watch as covertly listen while pretending to be very busy on my phone.  She was not asking this as a question, it was more of a “don’t you agree?” statement.
This statement is one that we real estate brokers field often.  I find it amazing that people will actually say to me that my services are useless. I may be many things, but I am not useless! In fact, I bend over backward to help my clients. I have been known to paint the entire back of a house to make sure my Sellers did not breach contract.  I will admit that compared to the President of the United States, my job is not as important, but it is essential when securing or relinquishing a person’s largest asset. 
There are so many items in a contract that can benefit either side of the deal and a broker can make sure their client knows each one. For instance, did you know that in the Northwest Multiple Listing Service (NWMLS) contract the listing agent can force the waiving of the financial contingency after a certain amount of days?  Wouldn’t that be beneficial for a Seller to know that they can protect themselves and the transaction toward the end of the deal?
For the Buyer, a broker can help them win the insane multiple-offer market we have going on here in the Seattle area.  How much should the earnest money be?  Should the inspection be waived?  Should ANY contingency be waived?  When can the earnest money be refunded and when not?
So many Sellers don’t want to use brokers because they don’t want to pay the commission. Hey, folks, we have children to feed too.  What I don’t understand is why one wouldn’t pay a person to help them get the most money and protection in a contract for their largest asset.  Yes, houses can be researched by the regular Joe so easily these days, but it’s the backend of the deal where real estate brokers make it worth the money.
Besides, what really makes it worth your money is that hanging out with me is fun and I often buy my clients delicious coffee!