When it comes to buying and selling real estate in the Colorado Springs area, There are a lot of people who look at real estate agents with a slanted eye. I mean, anyone can get a real estate license, besides, real estate agents are really annoying, aren’t they? They are almost in the same category as used car salesman, right? Why do we need Realtors anyway?
Well, unfortunately the industry has been plagued with people deciding to get into real estate with the belief that becoming a realtor is easy money. The truth is, only about 7% of the realtors do 93% of the business. If a buyer or seller happens to get a realtor who is not very knowledgeable in the industry, it further deepens the questions as to “why we need” realtors. If 7% of them do most of the business, the odds greatly increase toward a mediocre experience if there is not careful consideration in choosing.
Let’s start with the licensing of realtors and why the government requires a license. The sole reason for real estate regulation and the licensing of realtors is to protect the public from unscrupulous sales people. It is one thing to go to a retail store and get talked into a bad purchase that you regret, but it is another thing to make the single largest purchase of your life with potential regret for 30 years. There are reasons why contracts have gone from 1 sheet of paper to almost 20 pages of small print followed by another 20 pages of disclosures. Those reasons are called “lawsuits” between buyers and sellers. Using a licensed realtor will ensure that regulated guidelines are used on both sides of the transaction. Realtors are bound by ethical and fiduciary duties by law. They know how to navigate through a transaction so that more often than not, all parties are satisfied.
Let’s talk about what a good realtor does every day of the week including the weekends….They simply run all over town looking at inventory, negotiating offers, completing home inspections, keeping themselves informed through continuing education, marketing, networking, organizing contractors and helping clients in their due diligence tasks. A good realtor is fully submersed in real estate every single day. They have worked through transactions that were easy to close all the way to transactions from hell. They have seen it all. Experience is behind every good realtor. The knowledge that comes from an experienced realtor is unmatched by any “do it your self-er” or part time realtor. A realtor should be there to educate and assist you in the process so that you can make the best decisions for your family. The risks are greatly diminished when someone who lives real estate as a lifestyle is representing you.
A good realtor is a professional at marketing and networking. The first form of marketing the realtors use is the Board of Realtors “Multiple Listing Service” (MLS). This service is in real time and is fantastic for buyers and sellers to locate or market homes for sale in Colorado Springs. But, it does not stop there….or should I say: “it should not stop there”. Sadly, for many realtors it does, but for an active, submersed agent there is utilization of much more than the MLS. They utilize hundreds of other web sites to search and market homes. They also use magazines, mailers, flyers, video and literally talk and network with hundreds of people a week. Your chances of getting a deal or selling a home are increased when there is a networking realtor working for you.
Let me give you a little story of a “for sale by owner” who did not want to pay any realtors for their expertise in Colorado Springs. The seller slapped a sign in the yard and put an ad in the paper advertising his home for $175,000. A passer by saw the sign in the yard and called out of curiosity to ask for the price. When they heard $175,000 they thought maybe there was a mistake. The home was probably worth about $230,000. They decided to make an offer immediately with the owner. It went under contract. About halfway through the transaction, the seller got to talking to someone who helped him realize his mistake. He tried to back out of the contract. The buyer took him to court and the court forced the contract to completion. Ironically, the seller lost an amazing amount of money trying to save from paying a realtor any commissions. Any decent realtor worth their weight would have helped the seller make another $38,000 after paying 2 realtors and closing costs. This is just one example I have seen where someone has been burned trying to avoid the realtor.
I know that there are many people across the country who successfully complete real estate transactions without realtors. However, it’s like asking someone who went to Las Vegas for vacation if they made any money. When they do make money, they are happy to tell you about it. But you never hear the sad, embarrassing stories of being taken to the cleaners. That would make them look stupid. Personally, I think it is gutsy to attempt such a huge transaction without a professional realtor, but the ones that get burned….I think about how stupid their decisions were and just ask myself: “What were they thinking”? When it comes to specialized professions, I say trust the professionals before yourself. If you need a root canal, do you just get a drill and do it yourself to save money? No! We would say that is stupid. Yet, everyday people gamble with the largest investments of their lives with no representation. It’s amazing to me.
Bottom line, search out realtors in Colorado Springs who are submersed in real estate every day. If you are looking to buy or sell in the Colorado Springs real estate market, I would be happy to help you. I may be annoying, but I am in the top 2% in selling Colorado Springs real estate and have sold 100’s of properties. My goal is to educate you so that you can make the best decisions. If you are selling a home, I will provide more marketing than 99% of all realtors in Colorado Springs. To research my claims, go to youtube and type in “Colorado Springs Real Estate” and see who dominates the video market. You can also “Google” my name (Rob Reinmuth) to see my web presence. Fully submersed.