![]() ![]() The agent is crucial during this time, as well. If an offer is made, the agent presents it to the seller, and then negotiations can take place if the owner is interested in accepting the terms. All showings, open houses, and advertising strategies are arranged and coordinated with the owner by the realtor. The agent is responsible for all the marketing techniques for the sale of the house, as well. The real estate agent will be able to get the absolute best photographs that show your home in the best light possible to buyers. Often, the agent or broker will pay for the house to be staged and photographed professionally for the listing photos, which play a huge part in the selling of the house, as well as how much the sale price ultimately can be. Pricing the home is always best left to a professional, and that’s exactly what a real estate agent is. One of the biggest mistakes homeowners make is overvaluing their house, or otherwise miscalculating improvements they’ve made, etc. Keep in mind the fact that the agent deals with buying and selling houses all the time, as this is what they do – they know what buyers want. This is one of the greatest services the realtor brings to the table. In other words, if we use a seller situation as our first example, the agent first evaluates the home and the homeowner as far as why they’re selling and what the goal is, as well as the house itself and the value of the asset. The first thing an agent does is assess and discuss the individual situation before them. Let’s go over this in detail to bring these facts into the spotlight as well.Ī real estate agent’s role is multifarious. So what does an agent or broker provide to the client that they would otherwise be lacking? Expertise – to put it both simply and bluntly. Time and time again, however, it’s been found their roles are indeed both valuable and necessary. Do We Really Need Agents?Ī real estate agent’s role has been called into question before, of course, and particularly when a buyer or seller is in the position of hiring one. Technological advances have also threatened to squeeze the role of agents from existence, with the emergence of proptech and other would-be disruptors of the industry. President Biden announced a probe we covered at the end of 2021 into the commission structure of real estate agents. However, the timing of the two cases presented in the spotlight comes at a precarious moment for agents and brokers everywhere. The lawsuit puts real estate agent commissions under the microscope once again, which has been done multiple times. Judge Stephen Bough elevated one of two federal cases before the Supreme Court presently to grant class-action status to the lawsuit, raising this particular threat to a new level. If either of these cases is successful, the industry itself will be both endangered and hugely impacted, with financial implications of an almost unimaginable scale. And the other one looms in the background. There’s recently been an alarming development in one of these cases. For the past 3 years, there have been a couple of worrisome class-action lawsuits that have been sitting on the books, waiting patiently for their rightful days in court. Last week, The Real Deal reported a game-changer in one lawsuit that so far has only been a distant threat to real estate agents, but from now on, will have everyone’s attention.
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