McClelland Minute - February 14, 2010

When You Don’t Need a Realtor

Most people outside the profession of Realtor think we earn our living selling real estate.  I believe successful Realtors are facilitators and problem solvers; we assist sellers and buyers, landlords and tenants, to connect in a business like way with each other.

As a buyer or seller, you don’t need a Realtor if you have a logical way of determining current market value of property.  With houses, this usually means an accurate description of the subject property – condition (effective age as opposed to real age), size, construction, features, location, etc.  You then compare this list to similar properties that have sold within the past 180 days, adding and subtracting attributes to develop a fair analysis.  You will also have to factor in for market incline or decline. 

As a seller, you don’t need a Realtor if you enjoy showing strangers through at a time convenient to them and are prepared to answer questions about your property.  It helps to have a bit of thick skin because buyers are often quick to criticize anything that doesn’t meet their personal standards.  For example, you may be very proud of the paint colour in the living room, but they say that will be the first thing they will change upon assuming ownership.  And that paving stone patio you spent several weekends building last summer?  Well they want to take it out and replace it with a wood deck and hot tub.

As a buyer, you don’t need a Realtor if you have sharp observational skills.  It may help to carry a check list.  What is the approximate age of the shingles, were the windows wood casement or PVC, was the tub surround in good condition, how old was the furnace and hot water tank, and so on.  Are you sure that the square footage or age of the home is accurate?  Did the owner offer you a written disclosure statement on the condition of the property?  Are there any easements on the title that may effect your ability to enjoy the property?

As a buyer or seller, you don’t need a Realtor if you enjoy the push and pull of negotiation.  Some buyers start to bargain with you from the time they first enter the door.  After all bullies and bluffers need houses too.  Maybe you feel compelled to tell the buyer that you really need to sell or that the asking price is negotiable or try the tried and true approach “make me an offer and I will let you know if you are anywhere close” – all sure tactics to get a quick sale at your price right? 

As a buyer you don’t need a Realtor because you believe that sellers always tell you the truth.  Theirs was the only house on the block not to flood in last year’s 5 inch rain storm or the wiring leading to that 70 amp panel is up to date or the 20 something year old furnace has never given them a lick of trouble or it is okay to have the garage built over a gas line, no harm done.

As a seller you don’t need a Realtor because buyers always can afford your property, just ask them.  Of course it helps if you drop your expectations to what they can afford; after all, they really need the property.  And by the way if there is a delay in financing, it is always the bank’s fault.  There should be more sellers willing to rent to own anyway or prices are way too high here compared to where they are coming from.

Yep, you don’t need a Realtor, anybody can do this job.

Vern McClelland is associate broker with RE/MAX of Lloydminster.  If you have questions or comments on this article or other real estate matters, he can be reached at 780.808.2700 or through the McClelland Group website www.mcclelland.ca

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