What do Realtors do for their clients? Look at the above photo? We see a man placing keys into the hands of another man His wife/girlfriend clutches his arm and smiles with approval. What we have here is another satisfied couple. They have just purchased a home using the services of a Real Estate Broker. Some people in this high tech digital world think that they can bypass a Realtor and complete the process themselves. Fortunately, they are still in the minority. The majority of people today will still use the services of a Real Estate Broker to complete their sales transactions.
Is The Real Estate Broker Still Essential in 2020?
Should a person still choose a professional Realtor to represent them? After all, there are self-help books, Videos on to sell your home yourself, and others saying all sorts of negative things are Realtors. The answer is still yes more today than ever you need the help of a Realtor. Back in the day, Century 21 Agents wore gold blazers and stood out. The term Real Estate Agent is still used in certain areas of North America. In the state of Illinois, we are now called Real Estate Brokers. As with other forms of business, Real Estate is constantly evolving. This year of 2020 has bought forth changes in all forms of business due to the coronavirus. What happened from January to the end of June in the Chicago housing market was addressed in my last blog post which you can read by clicking here> https://www.cmacakachicagolandrealtor.com/2020/04/the-corona-virus-effect-in-my-west-ridge-chicago-neighborhood/
By late June here in the state of Illinois the coronavirus curve was bent downward. Today Statewide the infection rate is still low. Sad to say, the virus has made a comeback or is still in stage 1 in other parts of the nation. Will the infection rate increase again here? No one knows. None the less the buying and selling of property is continuing. Today due to the pandemic, we Realtors have had to make adjustments. As Real Estate Brokers we have to keep you the public safe. The homes we display now have to be constantly disinfected. By doing this we all can safely go home to our families at night. Real Estate Brokers also do things that are behind the scene. Those essential things will get our clients to the closing table. What are some of those things? Let’s discuss 5 of them.
5 Things A Realtor Does For His/Her Client.
1:During this pandemic you hear the experts constantly refer to the medical data. They use this data to determine what their next step should be. Real estate brokers are experts in their field. Consider me. My office of Century 21 Universal is located in the heart of the West Ridge area of the city of Chicago. The areas of West Ridge, Rogers Park, Edgewater, Uptown, North Park, and Albany Park are unique within themselves. Add to that the Suburban areas of Lincolnwood, Skokie Evanston, Niles, and Morton Grove
Each area has its own data/market. A realtor understands this data/market but there is also the human side. The sellers and buyers consist of people of all ages and generations. Over 85% of Sellers and buyers use the services of a realtor. These numbers also include Millennials whose numbers were over 90%. Why do they choose a Realtor? Because we Realtors understand the market, the data, and more importantly the people within these areas. We interact with them daily, because we are in their neighborhoods daily.
2: To know the market means that a realtor must know the value of the home to price it right. That goes for both the seller and the buyer side. The seller wants to get every penny they can because they need to spend that money elsewhere. If they can they will try to overprice the sale of their home. The realtor knows the selling price of the homes in those local areas. Their job is to inform the seller that if you overprice your home it will not sell.
The home buyer’s Real Estate Broker also uses the same data. The Buyer’s agent will know what homes are overpriced and will steer their clients away from those properties. That overpriced home will sit on the market until one of two things will happen
! The seller decides to lower the price. The buyers who would have purchased that home earlier have moved on and bought homes or they might come back to you. If not then you the seller must now wait for a new group of homebuyers.
2: You the Seller refused to lower the asking price of your home so sits on the market unsold and will most likely become an expired listing.
If the home does not sell who does the seller blame? They will blame the Realtor. But the Realtor asked you to lower the price. How can you the seller to avoid that situation? You do it by listening to your Broker. Realtors know their market and whether they represent the seller or buyer they know what the buyer will pay. They know what range the property will appraise for. They can advise the seller which improvements will improve the home without breaking their wallets. 90% of the homes priced right will sell.
How Are Homes For Sale Advertise Today?
3:Listing the home. Back in the day, you got a listing, you would then place ads in the local newspapers and magazines. Your Managing Broker would then place that new listing into a giant folder to be shown. Next, you created flyers and place them in laundromats and bulletin boards. Your main option was placing the listing on the Multiple listing services or MLS for short Do you remember those days? I do. Today few ads are placed in newspapers.
What do Realtors do for their clients? Open houses and allowing Realtors to showcase your properties to their clients is a time-honored tradition that will never go out of style. Today in the year 2020 we had to adjust to the times. Earlier in the year, we had to postpone open houses and showing properties/rentals that were occupied. Realtors now have to make sure that everyone maintains social distance, wears a facial covering and gloves, and we keep the property sanitized and disinfected.
We have increased the use of virtual tours and zoom meetings. Will another mandated lockdown occur again in the state of Illinois? We do not know but we will be better prepared this time if it occurs. What happened earlier this year were emergency challenges we overcame them. These challenges might be still affecting you where you live. Rest assured your local Real Estate Association will rise to the challenge. This is what we Realtors do for there clients.
Your home is still placed on the MLS but today we also market on the internet. When you list with Century 21 Universal your home is advertised on over 400 websites worldwide. People in India, Japan, and the Philippines will see your listing when they go online. Even though today Century 21 Agents no longer wear Gold Blazers. The C21 Brand name is known and respected throughout the world. Speaking of that Gold Jacket of yesteryear, I found an old photo of a Century 21 Gold Blazer. If you wish to see it, please click here >https://www.worthpoint.com/worthopedia/vintage-century-21-gold-jacket-blazer-220718000
Social Media And Its Affect On The Real Estate Market.
There might be and Agent still wearing a C21 Gold Blazer I guarantee you their use of technology is up to date. The internet was introduced to the mainstream in the 1990s and is still going strong. Add to that the explosion of social media. Facebook, Instagram, YouTube, Snapchat, Twitter, Linkedin, and a host of others are used daily. 69% of Realtors use Facebook because it works. Thru ads, videos, or posts, you can target a specific area or do abroad sweep of a community, town, or city.
Instagram has the ability to receive instant feedback on property and neighborhood photos. Using hashtags(#) can pinpoint and place your advertising directly in that locally desired area. Marketing professionals say video content has the best return on investment. So by using YouTube and uploading a home tour of the property for sale potential clients could envision themselves living in that home. Some Realtors are using drones to show how the property looks from high above.
I do not know anything personally about Snapchat but they say it has over 170 million viewers daily so creative Realtors will find a way to market to those viewers. In regards to Twitter, they have over 320 million active users, and some Realtors market on it and some do not. Then there is Linkedin. Linkedin is mainly a social network where professionals network together and you can display your work credentials. You can market your home listings there but that is not their main focus.
When you add it up, there are millions of Generation-X, Millennials, and Baby boomers online each and every day. The ways we advertised in the 20th Century are gone. Social media dominates today and if you ignore that reality, you will soon be out of business. Social media is here to stay and in the Real Estate industry, we are using it to the full.
Are Real Estate Transactions always Smooth Sailing?
4: Rarely is the offered price by the seller accepted by the buyer This is where the art of negotiations comes in.This where a realtor contract knowledge along with continuing education comes in. Using the Real Estate Lawyers involved with the transaction the terms of the sale, any repairs or concessions can be negotiated.
Do you know why? Because the seller and the buyer have a lot of emotions in the game and sometimes they do not want to bulge. When that occurs you will need the Realtors and the lawyers who have no emotional attachment to use their training skills to resolve the problems and get that deal to the closing table.
5: How does all this occur? I keep using the same word and that word is training. We are licensed by the State we work in so we are mandated to go through vigorous training. Every 2 years we have to take continuing education courses. If we do not take these training classes and pass them our licenses are not renewed.
These classes ensure that we have the latest training to deal with the situations that present themselves in today’s real estate world. Additionally, realtors can build on their knowledge by earning some of the 26 NAR recognized designations. Realtors for over 100 years have held themselves to a strict code of ethics. We in the industry police ourselves to fulfill our fiduciary duty to put our client’s interests first.
These are the 5 main things Realtors do for their clients. Here are other things we do. They find properties that are within the buyer’s price range. When needed they have the property staged and the property must be always be photographed. Realtors must be there when the property has to be inspected or to be appraised.
Realtors anticipate potential problems ahead of time. There are many egos and temperaments involved in a Real Estate Contract. Therefore the Real Estate Broker has to navigate and soothe ruffled feathers. Last but not least, we now have to adapt to the everyday challenges presented by the coronavirus pandemic. With resurgence happening nationwide who knows what tomorrow will bring. So are Real Estate transactions smooth sailing? No, they are not, remember Murphy’s law.
Realtors Provide Information To Addresses Specific Needs!
For those who asked the question” What do Realtor do for their clients? I hope this blog answers that question. It takes a lot to go from the starting line of showing homes to the finish line at the closing. We all want to get to the closing an as the photo above says another happy customer. Realtors are trained to help their clients make it to the finish line. We also provide information that addresses specific needs not only to our client but also to the general public.
Consider where we are as a nation right now. We are still under the grip of the coronavirus pandemic. A lot of families are still struggling to pay their bills and just trying to survive. The next few months will be challenging for buyers, sellers, and renters alike. In my last blog, I wrote about how the city of Chicago is trying to help renters get back on their feet. So when I get information, I pass it on to my clients privately as well as to the general public. This is what Realtors do for there clients
As a licensed Realtor, I belong to the Chicago Association, The Illinois Association, and the National Association Of Realtors. All 3 Associations keep Realtors informed on the latest developments in the housing market. For example for the month of July 2020, we all are aware of the challenges facing homeowners today. No one knows what the future will bring. Some speculate that next year will bring about massive job loss. Families could lose their homes. If that should happen to you, you will not be alone. There are agencies out there that hopefully will be able to assist you. If and when that time comes we as Realtors will point you in the right direction.
For The Seller And Buyer ReadyTo Deal. I Say, Do it!
On the other hand, right now, there are Homeowners who weathered the storm and are in good shape financially. Those homeowners see this as an excellent time to place there home on the market. So in support of those homeowners, here is an article that gives 6 reasons why today is the day you should sell your home. Please click the link below to read it. >https://www.realtor.com/advice/sell/reasons-why-now-is-a-good-time-to-sell-a-house/
July of last year I posted a blog post on how to sell your home in the Chicago area. If you would like to read that blog please click here > https://www.cmacakachicagolandrealtor.com/2019/07/selling-my-home-in-the-chicago-area/
Next is an article for the homebuyers out there. Realistically there is a shortage of homes for sale on the market today. But if you have done all of your preparation then I would say to you go out there and look for the home of your dreams. Seek out a Realtor. On the other hand, if you a first time home buyer and you are still in the planning stages here is an excellent article for you to read. It is lengthy but once you finish it you will be on the right track. please click here>>.
I also wrote several blogs on Steps to Homeownership in the Chicagoland area feel free to scroll thru them.
In conclusion, I hope that I answered the question of what do Realtors do for there clients. We use the technology available to us.to advertise to people both near and far away for your benefit. We are on the phones, we still fax but also use electronic signatures. Everyone is using zoom for meetings. But technology will never replace the time-honored tradition of being there in person, shoe leather on the ground to represent you as the Seller’s representative.
The same rule applies when you represent a buyer. You have to be there in person showing the buyers or the Renters the properties. Zoom can only go so far. Maybe in the future robots will replace Realtors but not today. Today, you still have to be up close and personal with your clients. But today the new reality dictates closeness as staying 6 feet apart if you can.
My office of Century 21 Universal is an award-winning office with over 60 License Brokers who speak many languages and as a group will get the word out about your home being on the market. The address of my office is 7300 N.Western Ave Suite I Chicago Ill.60645. We are located in the West Ridge area of Chicago minutes from Downtown and many Northside suburbs. This office has been proudly serving Chicago and it’s Suburbs for over 30 years and we are still going strong. What do Realtors do for clients? Use the contact information below and I would love to show you personally. Thank you, be safe and we will talk later. Take care
Main website https://www.charlesmcshanchicagolandrealtor.com
Facebook Business https://www.facebook.com/charlesmcshanrealtor
P.S.Here is a free downloadable Real Estate gift for reading my blog post please click here>https://drive.google.com/file/d/19X5SfIK-FnX_IPFiOurkC01xJAew1KwH/view?usp=sharing