If there is any doubt in your mind as to whether you need a real estate agent to help buy or sell your home, the recent report written by Mark McLean of Realty Lab should be of interest! You can find the full report here. The gist of the report is that, according to a recent survey (2011) conducted by the National Association of Realtors (NAR), the use of real estate agents is currently at a 10 year high. Of the over 5700 home buyers and sellers polled, almost 89% are using agents. That number, by the way, is up nearly 20% in the last decade. The study asked people what service they wanted from their agents. Here are the results;
55% said they wanted the agent to find them the right home.
13% said they wanted their agent to negotiate the price.
12% said they wanted their agent to negotiate the terms of the agreement.
7% said they wanted their agent to accurately determine what comparable homes sold for.
6% said they wanted help with paperwork.
3% wanted agents to help them determine what they could afford.
3% wanted agents to help them find and arrange financing.
Surprisingly, the NAR survey reported that the above results were pretty consistent with both first time and repeat buyers, new and resale homes and household composition. There were three other significant things the author pulled from the survey; First, more than half of the people polled said that real estate agents pointed out unnoticed features and faults with a property, second 44% said the agent negotiated better contracts and terms, and 46% said their agent improved their knowledge of search areas.
This last item is, I believe, the most important. Real estate agents build their whole lives around knowing the communities they service. They know the neighborhoods. They know the local weather and how it affects the quality of life in the area. They know what living expenses are like in the area. They know the shopping, services and community facilities. In most cases, they know most of the people selling properties in the area. All this knowledge can’t be bought. It is hard earned and priceless to their clients!
If you are considering going it alone either buying or selling a property I strongly urge you to utilize this precious resource before you do anything!
Whether you’re a tourist, looking to move permanently to the Keys, or just someone who likes the beauty of nature, the great variety of amenities in the homes in our area are just more reason to want to live in beautiful Key West. If you’re interested in real estate in this attractive area contact me, Jimmy Lane, at Key West Real Estate: 305-766-0585.
