Chuck Erkfitz - ABR

Real Estate Tips

                 SO.... WHAT’S REALLY CHANGED?   &   WHAT HASN’T ?

We keep hearing about CHANGE - as though change is something new, as though change just for the sake of change is what it’s all about, all we need. Change is constant. Things are always changing. This is not new! Again change is constant. That being said certain things do take on a certain state of permanence.

So, What’s Changed

There’s no doubt that advancements (changes) in technology have affected the way we all operate. If you went back only a relatively few years all we had were newspapers, 3 TV networks, 2 wire-photo services and a few prominent book reviews.

As far as real estate information/options were concerned all you had were newspaper ads and booklets and real estate agents that had something called “THE MLS” (Multiple Listing Service). They controlled it (MLS) and if you wanted to get information about properties in the MLS you needed them (the Real Estate Agent). Today we have the Internet, email, blogs, CD’s, DVD’s. Your choices for getting information about or finding available properties are endless.

The speed of communication today is incredible. And it’s only going to get more so. I’m reminded of what Bill Gates said in his book “THE ROAD AHEAD”. He equated the current internet to what was coming our way the way you might equate the Oregon Trail to the Interstate Highway system.

Speed is important but I like the saying “Make haste slowly”. I won’t go into it but you might want to read Leo Tolstoy’s short story “How much land does a man need?”.

Speed can really be an asset but it can also be a hazzard. If you’re not careful today you can be wrong at lightning speed. Speed can kill!

So today what has really changed is that you, the Sellers and Buyers, have unprecedented access to information that you didn’t have before. You have many more choices as to how you proceed on your journey. Much of the information regarding available properties is no longer controlled by the real estate agents.

Another recent change within the last decade or so is that you have choices as to how you are represented in a real estate transaction. Buyers, not just sellers, can have agents represent them. While you have always had these choices they were not apparent to most people. In the recent past most buyers were on their own in a transaction. Sure, they could have an attorney review the various papers related to the transaction, but as far as a current knowledge of the market and negotiating were concerned they we’re on their own. Today you can be represented as a buyer or seller by a real estate agent, by someone who has your best interests in the transaction at heart.

So, what hasn’t changed?

Well, for one, the need for experience hasn’t changed. The purchase of a home is one of the most important investment decisions most people will ever make. People have a doctor, they have a insurance agent, they have a plumber, etc. Hopefully these people are experienced in their profession or at the very least guided by someone who is. Doesn’t it make sense to have an experienced person assisting you in one of the most important decisions you might make?

Another thing that hasn’t changed are the laws of agency with regards to the Fiduciary responsibilities that an agent owes his client. Among these are Confidentiality, Obedience, Reasonable Care & Diligence, Accountability, Loyalty & Disclosure as they relate to agency relationship. These are legal responsibilities that your agent, if you have one, owes to you. Their your "Special Agent".

The understanding that comes with the experience of working with many people over an extended period of time. This hasn’t changed either. Does the agent have your goals and aspirations in mind or are they just trying to make a sale? Some people still want personal service.

Does your agent have good associations, associations built up over a period of time, with the local banks, the Title Insurance Companies, Surveying companies, local government officials, other real estate agents and companies, etc., etc., etc.?

This is what I’m talking about! Speed is important but so is the need for experience, ethical responsibility, understanding, & relationships. Virtually all agents have access to the speed. Which ones have your interests in mind?

If you needed brain surgery would you want an experienced surgeon or the circus knife thrower?
If you decided to go on a safari would you want a guide or would you just start walking into the jungle?
If you decided to take up sky diving would you want a good instructor? Or would you just jump out of the plane?

If, if, if. The choice is yours. You decide!