When people become interested in the real estate market, they often start online, perusing one of the myriad digital sites — from databases like Zillow, Trulia, and Redfin to broker and Realtor websites to media publications. These can be a good place to start, but when you get serious about buying or selling real estate, these online resources are no substitute for working with people who have spent their whole careers building expertise and relationships.
First, Realtors can save you a bunch of time. If you are interested in buying, for example, your Realtor can set up an automatic email feed that only sends you properties that meet all your criteria (e.g., price range, number of bedrooms and bathrooms, location, and more). If you are interested in selling, your Realtor can set up an email feed that sends you information whenever a comparable property is listed or sold so you can keep an eye on the market. This pre-screened information saves you the trouble of spending hours browsing through irrelevant data.
In my (biased) mind, nothing can replace the personal service level of a real live person, at least at this time. That’s not to say that all the new technology doesn’t have value for you and your Realtor. Technology sorts through huge volumes of information and makes it available instantly, and that’s a good thing.
When I started in real estate almost 50 years ago, Realtors had MLS binders with mimeographed pages full of the pertinent details for each listing in the area. Every week, we received updates — we were handed new pages for new listings that we had to add to our binders, which listing pages to remove because the property was no longer on the market, and a list of updates such as price changes or corrections that we had to go in and handwrite a note about. This was a tedious and time-consuming process.
In today’s world, when a new listing or a change on an existing listing comes through, the agent must do the arduous task of hitting the refresh button on their screen. Voila! Instant access to the most up-to-date information.
However, there are still so many things that a computer (even with artificial intelligence) cannot do nearly as well as a Realtor with experience in our community. For example, there are probably 100 different funding sources you could choose from, but your Realtor can condense that number to the three or four lenders you should talk with. This kind of service requires a personal relationship based on experience, not a computer algorithm.
Working with a local lender is also better than using an online-based service that requires you to input your information so they can spit out the “best” options. Your local lender uses technology to provide you with a personal level of service that comes from years of experience, allowing them to match what they know about you and your financial situation with the funding source that makes the most sense.
Sometimes, homebuyers think they can represent themselves in a real estate transaction using “expertise” they glean from the internet. It’s like the difference between reading “some assembly required” and trying to actually put something together — two very different experiences.
Buyers who represent themselves often end up asking the sellers’ Realtor about which inspections they should get or which lender they should choose. The sellers’ Realtor must explain that he or she cannot answer those questions without taking on a fiduciary relationship so if the buyer doesn’t want representation, the Realtor cannot answer those questions.
Personally, even though I have a real estate license, I hire a Realtor when I buy or sell property. I find someone who specializes in the local market and the type of property involved. This provides me with someone who is laser focused on closing the transaction and who can negotiate on my behalf. In negotiations, your Realtor can reach out without giving away your position. They can simply appear to be interested in collecting their commission as opposed to showing how excited or concerned you may be.
Bottom line, even with all these incredible improvements in technology, in my mind, nothing can replace the level of service you can obtain by working with a real, live human being who cares about doing a good job.
If you have questions about property management or real estate, please contact me at rselzer@selzerrealty.com or call (707) 462-4000. If you have an idea for a future column, share it with me and if I use it, I’ll send you a $25 gift certificate to Schat’s Bakery.
Dick Selzer is a real estate broker who has been in the business for more than 45 years. The opinions expressed here are his and do not necessarily represent his affiliated organizations.