Why Use a Real Estate Broker When You Buy or Sell?

By: Maria Girlie Pascual

 

This is the number one question that a lot of consumers have in their mind, or “thought bubble,” as I like to term it, much like those cartoon characters that have those little clouds above their head when they are thinking. Yes, why use a real estate professional, especially when a lot of your questions on any topic under the sun can be answered by “Googling” it. Sure, anyone can do research to find out about areas, neighborhoods, even look for properties for sale on the real estate websites. They can calculate their payments, inquire about loans, even view the homes with just the click of a button and maybe even make an appointment with the “For Sale By Owners” that try to sell their own properties without the help of a professional. One can certainly do all those things, but is that really the smart way to purchase or sell one of your most valuable assets?

What the internet cannot impart and cannot replace the real estate broker with, are valuable services given by the Realtor (One can only be considered a Realtor if they belong to the Realtor organization that holds members to a higher code of ethics), or by the broker. ( By law, there are no more real estate “agents”, only “brokers”).

Some of these services include meeting with potential clients to go over what they want to accomplish, because whether they are buying or selling, consumers have a specific list of requirements on what their expectations are, and what they are looking for. For buyers, it could be the neighborhood, the school district, style of the home, size, amenities, and other things that they might not even think about, especially if they are first-time home buyers. For sellers, it could be the price that they needed to be at, the timing of the sale, the cost of repairs and renovations to sell the house, and other pertinent pointers that the real estate broker might be able to help them with in order to accomplish their goals in selling.

The real estate expert helps them sort out their wants and needs, gives them an idea of what their price point gets them, and calculates the expenses related to their transactions. They are given a market analysis of the home that they are buying or selling, and explains to them potential problems or challenges that may arise out of their choices or decisions.

Then there is the negotiation. Once a buyer has located their home, or a seller has an offer on the table, the real estate professional performs due diligence to make sure that their clients are getting a good deal no matter which side of the table they are at. An experienced broker may give them the best insight into the current market and help guide them through all the intricate workings of the negotiation process to make sure that the client comes out a winner. Because of their extended experience in handling buyers and sellers, the true professional will always want what’s best for all parties, to go in there with a “win-win” philosophy.

In the newly revised Illinois Residential Contract 6.1, there is a line there in the middle of the thirteen page contract where the heading reads “Choice of Law and Good Faith.” This particular line, number 29, states that “All terms and provisions of this contract including but not limited to the Attorney Review and Professional Inspection paragraphs shall be governed by the laws of the State of Illinois and are SUBJECT TO THE COVENANT OF GOOD FAITH AND FAIR DEALING IMPLIED IN ALL ILLINOIS CONTRACTS”.

Simply put, we are to assume that we are dealing with fairness and honesty, unless the actions on either party indicates otherwise. Sure, in the real world, there are a lot of bad elements, persons that by nature may want to take advantage of the other, and here is where the broker can also guide their client to avoid certain situations by keeping abreast of the changing rules in their chosen profession. This is achieved through continuing education requirements when renewing their licenses every two years. This keeps the professionals above board, especially since they are tasked in keeping and giving fiduciary duties to their clients, and when they don’t, it can be a costly matter for the Realtor to break Illinois statutes and laws pertaining to their profession.

Another advantage of using a Realtor or Broker is that should an issue or problem arise that the client feels they should pursue, the real estate professional is governed by the Illinois Department of Finance and Professional Regulation (IDFPR). This government-sanctioned agency makes sure that the broker’s license is current, enforces fines and penalties if the consumer’s complaint is found valid through hearings done by the Board.

Finally, a Realtor or Broker Associate (former agents that are not managing an office), is there from start to finish of any transaction. They are there to guide, direct, suggest, inform, negotiate, follow-up, research, drive, and all the other tasks that must be performed in order to close the deal. Sometimes consumers think that all the Realtor thinks about is their commission, but this is where I must clarify this misconception. Like any other worthy profession, and I do take this to heart, we all look at our strengths and skill sets before we invest our time in education, training and experience. We are no different from a lawyer or an accountant pursuing a career in their chosen field and in the real world, we can say that there may be instances where the so-called professional does not perform their duties well, and in the real estate environment, the choice of a Realtor is one that can make your experience a good or forgettable one.

If any professional in their chosen field truly puts the clients’ needs in front of their own, then trust me, you will have the best person representing your interests and guiding you well through the process. So choose wisely, inquire about your Realtor’s background, experience, and if they were ever cited by the Board for any misconduct or fined for any infraction. Do your own due diligence and watch how well they explain the buying or selling process to you, how well they respond to your phone calls and emails, and more importantly, how comfortable you are with this person to trust them enough with one of the most important moves in your life. Remember, nothing beats experience, knowledge, and a good work ethic. Think of the process of choosing a Realtor as hiring a professional that you can rely on to get the job done.

I am available for a stress-free, no-pressure consultation for buying or selling your home or investment property anytime, 24/7. Call or text me anytime at (847) 912-3997. I have been working full time as a Realtor/Broker since 1987 and have not had any incidences or complaints for the past 29 years. Call or text now, I can’t wait to meet you!##

Vintage on the outside , modern inside- let me find your next home!

Hemingway used to live here !

Talk to me about what you want in your next home.

Check out the new green feature – a tankless water heater.