Exhibit A Why We'll Always Need Real Estate Brokerage

By
Real Estate Broker Owner with J. Philip Faranda (J. Philip R.E. LLC) Westchester County NY

Car wreckThere is a a misinformed minority out there that is of the opinion that the data available on the Internet will eventually render real estate licensees obsolete. 

I disagree for many reasons, and I'll give you one good example: People say some pretty dumb things. 

I'll be the first to admit that I have heard some licensees say silly things. But at least the stupid things I have overheard were said by one agent to another. 

Today, at an open house for a rather upscale home one of my agents was hosting, we had one couple walk through and the wife noticed that the property next door was a multi-family home. She voiced her displeasure, saying that the number of cars in the driveway made it look like a boarding house. I told her we knew it was a two or three family home, and that since it was Sunday that it was likely that they might have visitors. 

Then she shook her head and remarked "this isn't a good neighborhood." Now, bear in mind that were were in a home that was owned by a physician, in a rather affluent suburb of New York, in a beautiful section with a water view on almost an acre. Is she entitled to her opinion? She sure is. Would she be able to maximize her chances of negotiating a good deal for herself on her own with that mouth of hers?

Snowball. Hell. Get the picture?

This is not an isolated case.  Even educated, intelligent professionals have different skill sets than real estate negotiation. I have a degree from Villanova. Ann went to Columbia and has an MBA. Can we fix a transmission? Meh. I'd feel better if a mechanic did it.

The lady today probably found the house on the Internet and one could assert that she didn't need a broker to find the place. I agree. But brokers are far more than data gatekeepers or door openers. We navigate waters that most people have never entered, the world of negotiating 6 and 7-figure transactions with a modicum of skill. And we manage to do so without antagonizing the principals. 

Today's experience was nostalgic for me, as we used to run a company that assisted For Sale By Owners, where we had a front row seat to trainwrecks regularly. We stopped doing that. No regrets. Today reminded me of just how wise we were to end that project. If I want to see a disaster I'll Netflix Godzilla stomping Tokyo and save the agita. 

 

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Re-Bloggged 2 times:

Re-Blogged By Re-Blogged At
  1. Lenn Harley 04/30/2012 03:48 AM
  2. Gabe Sanders 05/07/2012 03:48 AM
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Topic:
Home Buying
Groups:
Bartender, Make it a Double
Club Chaos
BananaTude
Tags:
negotiation
mistakes

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Rainmaker
721,470
Mike Cooper
Your Winchester, VA Real Estate Pro
Winchester Real Estate Sales, Cornerstone Business Group Inc

Well said, J. P.  I'm amazed at how many experts there are cruising the housing market.  Not too many seem to be buying, but they are full of "expert" advice.  

May 02, 2012 04:30 AM
Rainmaker
91,673
Kerry Jenkins
Prime Properties

I kept seeing this post on your webinar today and had to finish reading it in its entirety. She's clearly not a neighborhood expert and could use your advice. What did you say????

May 03, 2012 12:08 PM
Rainmaker
520,662
Richard & Beth Witt
Broker/Owner RE/MAX Wittney Estates Long Island NY
RE/MAX Wittney Estates 516-795-6900 www.longislandrealestatesearch.com

Great post... learned a lot from you today... looking forward to learning more.. Beth

May 03, 2012 03:56 PM
Rainmaker
415,216
Phyllis Lerner
William Raveis Legends Realty Group
William Raveis Legends Realty Group LLC

Hi Phil... great post and to the point... nowadays there is so much information out there on the Web (information  that is at times incorrect, incomplete, or outright false and misleading)... tempting many people to buy and sell real estate without the assistance of a broker... and some (very few) actually pull it off on their own... the majority however realizes very quickly that they are better off with the help of someone that handles this type of transaction on a regular basis... the numbers don't lie in the end... and if it were that simple we, the real estate agents & brokers, wouldn't be around anymore... wouldn't we?!

May 04, 2012 02:27 PM
Rainmaker
563,794
Kathy Sheehan
Movement Mortgage 770-634-4021

Actually I believe that this problem can be found in more than just the real estate industry.

May 08, 2012 04:50 AM
Anonymous
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Rainmaker
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J. Philip Faranda

Broker-Owner
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Additional Information

Phil Faranda is broker and owner of J. Philip Real Estate LLC in Briarcliff Manor, NY. Since founding the firm as a sole practitioner in late 2005, the team has grown to over 30 agents & closed 350+ transactions valued at $140 million. He is in his 4th term as Vice President of the HGMLS. This blog commentary is geared toward consumers and industry colleagues alike. You can reach him at (914) 723-8900.
Warning: *Sarcasm and irony advisory at all times.*



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