November 26th 2012
Go Girl Finance
Do I really need a real estate broker? In the age of technology many buyers feel they don’t need an agent because every property can be viewed online. They can sift through photos and floorplans and eliminate options by the touch of a keystroke. Despite all the information available online, a seasoned broker remains essential to the process. Buying a home is probably the most significant financial commitment you will make in your lifetime. Including an agent in the process is wise.
How often have you looked at a photo online and seen the image in person and realized that the picture does not reflect the reality? This is especially true for real estate. Online a property is pictured in its best light, camouflaging nuances about the space, location or building. A seasoned broker can help you sift through the multitude of listings and provide critical information. Buyers often purchase a home that is vastly different from what they originally set out to acquire. A good broker can direct you to an area that you didn’t originally consider.
Brokers are experienced in favorably presenting your bid, negotiating the deal, interpreting comparable pricing, assisting you with coordinating financing, inspections, architects, contractors, attorneys, and a host of other issues and needs that may arise throughout the purchase process. Going it alone you may be shortchanged and miss opportunities.
How do I select a broker?
• Get recommendations from friends or other professionals and interview several candidates.
• Hire an experienced broker who demonstrates a track record, problem solving skills, sensitivity and integrity.
In New York State your broker can be an entry level Salesperson, who is newer to the business or an Associate Broker who has at least two years of experience, required coursework and has passed an Associate Broker’s State exam. Is your broker a member of any industry groups? In New York State the trade group is the Real Estate Board of New York.
Early in my career I was selected to represent the Seller of a very expensive and exclusive apartment. I was chosen over a far more experienced and seasoned real estate broker. After the closing, I asked the Seller why she chose me. She told me “you had enthusiasm and I just knew you would work hard to obtain the best possible sales price.” Most likely you will be spending a lot of time with your broker so trust your gut and hire someone who you feel comfortable with, will enjoy working with and hopefully will make the process less stressful, exciting and fun.