Covid -19 has dramatically changed the dynamics of our world as we know it. This is very apparent in the real estate industry. While the world in which we live in has become a digital one, the pandemic has increased our reliance on the Internet and we are conducting our day-to-day business – even buying a home – in a primarily virtual environment.
The real estate industry has seen this increased reliance on technology ignite a fundamental shift in the way homes are bought and sold. It is now easier than ever to gain a wealth of knowledge about a home, condo, townhouse or any listing from the Internet, and a deal can be made with minimal face-to-face contact with the real estate agent.
Social distancing has changed the way prospective buyers view a home, as open houses are by appointment only and home viewing is now done mostly online. While we all do our detailed home searches on line anyway, and since the viewing and paper work is done virtually, is there any need for a real estate agent to get involved in the deal?
No matter how things change, some things remain the same, and this is more apparent in the real estate industry when it comes to using a realtor to buy (or sell) your home.
Local area knowledge
While online tools are great for research, communicating and staying current with the market, nothing can replace the knowledge and expertise of a good local agent. An experienced real estate agent brings irreplaceable local knowledge to a search. No one knows the cracks and crevices of specific streets, cities, and school districts the way a well-informed and knowledgeable real estate professional does.
Access to information
There are some very specialized websites with sophisticated tools that allows one to search and gather important information like never before. However, realtors have access to tools and information not easily available to the public. It is the way they use their experience and knowledge to interpret the information available that makes their contribution essential to any transaction.
Information on exclusive listings
Usually all homes for sale in a given market are available on the MLS and online. Sometimes, homes can be “for sale” but treated as “private” or “exclusive” listings. This means that the agent markets the home to other local agents, usually with the agreement of the seller, for two weeks to a month before entering the property into the MLS.
A real estate agent has been formally trained in the art of negotiation and closing a deal. A homebuyer will not have this type of knowledge and preparedness, and this could result in a buyer not making the optimal purchase decision. Also remember, a real estate agent’s emotions will be completely neutral, whereas a buyer will be emotionally charged due to the nature of the transaction.
If you are planning to buy a home, then you should contact us. We have been in the luxury real estate business for over 30 years and our real estate professionals have a wealth of experience when it comes to listing and selling your home.