Why real estate agents have a need to continue to evolve to remain relevant in this high-tech, market?
For people who are looking to buy or sell a home, the Internet has made searching for the right house easier than ever. Realtors are looking for new ways to protect their possible commissions. This big change is forcing real estate agents to offer more services, and keep up to date in all the new technology coming their way, in order to stay relevant.
It is much more difficult searching out the quality realtors. Those 20-35 know they can search and find the perfect property, but their search for the perfect realtor to close the deal has been a bit of a challenge. Seniors have been searching out alternatives to downsizing, and the reverse mortgage. They seek Realtors who are different and can offer them more stable, longer term solutions.
In the Toronto market place right now, if you want a detached home in a decent neighbourhood, you’re looking to pay between $750,000 to one million bucks,
Realtors once served as gatekeepers of data, providing customers with access to exclusive information that helped them price their homes or determine the true value of the properties they were eyeing.
“The realtor’s value is interpreting the data,” says Aunger, “Though you can look at a snapshot of what the house next door sold for, you may not know what’s in that house.”
Agents can also ensure that all of the necessary inspections have been conducted and regulations have been met. All of the extra things that you do will help the home sell faster and usually for more money.
Your clients can benefit from your expansive networks of contacts — from stagers and contractors who can help you polish up a home before it hits the market to other agents who will bring their clients in to have a look.
Nonetheless, some homeowners are finding the costs of using an agent are simply too high as house prices in several Canadian cities soar higher — and so too do the commissions earned by realtors. It is critical that agents make the case for their value.
Sellers typically pay five per cent of the sale price, with half going to the listing agent and the other half to the buyer’s agent. For a $1 million home — now the average price for a detached house in Toronto and Vancouver — that translates to $60,000 in fees. By offering a distinctively different type of opportunity you may attract a seller or even an investor to consider the Sell ‘N Stay program. For a seller the fee’s are the same as if you sold on MLS and moved somewhere else.
Consider marketing yourself in a whole new way, to people who may not even have considered making a move. The Sell “n Stay is an alternative to those that may have considered a reverse mortgage. A client doing a reverse mortgage has not benefit to a Realtor, but a Realtor offering a Sell “n Stay Sale and leaseback can make commission on both the sale and the lease and in many cases can do both sides of the transaction.
Sell ‘ N Stay can make you become a more relevant Realtor in the next decade. Consider taking the 9 to 5 Realtor program or the 7 Riches to Niches Course.