Posted by nithi.vivatrat on May 21, 2009
These days, it is not uncommon for folks shopping for homes to do a lot of the tasks traditionally associated with a real estate agent: surveying neighborhoods, identifying listings, touring properties (via open houses), analyzing comparables, even contacting homeowners. The DIY home buyer has been greatly empowered by the proliferation of online real estate information resources such as Zillow, Trulia, and Hotpads that have eroded the information advantage of brokers. The most difficult part of the process for a non-professional, not surprisingly, starts after that: actually making an offer, negotiating the best deal possible, and working through the process to get to a successful close. This is where a real estate professional can add the most value. It is also, in my opinion, where the commission model makes the least sense.
Enter SmithAdams. Using our flat-fee, a la carte buyer services, the DIY home buyer can have the best of both worlds: no commissions but access to a real estate professional on an as-needed basis. Similarly to the way one would consult a lawyer, accountant, architect, or other professional on a fee-for-service basis, one can use a SmithAdams consultant – and pay only for the time used.
So to all you DIY buyers: SmithAdams is your trusted advisor, free from the influence of commissions and available at a reasonable cost. Don’t just take my word for it – read this case study of DIY buyer who used SmithAdams to get the job done.
Posted by nithi.vivatrat on March 27, 2009
Craig and I were chatting yesterday about my March 24th blogpost regarding SmithAdams for buyers and an interesting issue came up. It was my assumption that MOST people shopping for homes sign an exclusive buyer representation agreement with the agent helping them. Craig corrected my misconception — in fact, MANY people shopping for homes do NOT readily sign any type of representation agreement with their agent.
I suppose one might think, “I just want to look at this property – why should I commit to any type of agreement before I know I can work well with this agent or that I will like any of the properties he or she will show me?” This attitude is likely exacerbated by the exclusive buyer representation agreements put in front of buyer prospects by most agents (there ARE non-exclusive buyer representation agreements, but that is a topic for another day). I can certainly understand why home shoppers might not want the commitment. WAIT! There is more to read… read on »
Posted by nithi.vivatrat on March 24, 2009
The Real Estate Matters column in Saturday’s Washington Post identified some of the reasons why this is a great market for first-time home buyers, ranging from the falling home prices, low interest rates, and the tax credit. I would add this reason why I believe the first-timer segment will grow as a proportion of all home buyers: by definition, first-time home buyers will not be saddled by the prospect of selling a current home at a loss, which definitely undermines the impetus to move.
The column got me thinking about why SmithAdams is such a great fit for home buyers, first-time or otherwise. I was talking to a buyer client this morning who summarized it neatly for me:
“If I do my own research and find the house on my own that I want to buy, why should I pay a 3% commission? I just wanted help determining the offering price, preparing and presenting the offer, and negotiating the deal. SmithAdams did just that, and I didn’t have to pay for anything I didn’t need or ask for.”
In this market, there are many opportunities to identify bargains relative to prices over the past few years. Doing so will require you to do some homework and research. SmithAdams can certainly help do this for you. But, if you indeed do that homework yourself, shouldn’t you be rewarded with lower fees? I think so. If you agree, give us a call.
