The Value of Agency – Worth, Advantage, Price

Buying a home is the largest and most complex transaction most people will make in their lifetime, with volumes of property, neighborhood, transaction, legal and regulatory details to navigate. Having an expert, local professional manage the process is more important than ever.

I want to first begin by considering the definition of value and words that are synonymous with value:  worth, usefulness, advantage, principles, ethics, evaluate, and price.  Value is a word frequently used in the Real Estate World.  When we talk about value, though, it is often related to the value of a home – or more specifically, the market value of a home.  As a consumer, or someone who would buy or sell a home, value can obviously mean so many more things.  My hope is that this blog post helps you understand Real Estate Agency, but also the Value of Agency and what that means to you.

A Realtor has all kinds of tools in their belt to help you determine the worth of your home based on various market factors, such as your neighborhood statistics and supply and demand.  Unfortunately, what the market says and what you believe your home to be worth do not always line up.  Before you panic, this often doesn’t mean you can’t get the value out of your home that you want; it just means that we may need to consider those other words that are synonymous with value that I mentioned above and how we can use that to your advantage in the transaction.  The value of agency, or one value of agency, is understanding the market and what buyers and sellers in your area consider valuable.

How can you get the most value out of agency?  Look back to the synonyms of value mentioned above – principles and ethics.  Not every real estate agent is created the same.  Any agent can list your home for whatever price you choose.  That doesn’t mean it will sell – and that doesn’t mean it will sell in the amount of time you need it to.

Do your research.  Ask the questions you need to feel comfortable.  Buying a home and selling your home are a huge deal.  It is a large commitment of finances and time – not to mention very complex and emotional for most people.  Ask whether the real estate agent is a REALTOR®.  This means the real estate agent belongs to the National Association of REALTORS® (NAR) and subscribes to a strict Code of Ethics.  In addition to this, the Association has been advocating and protecting the rights of property buyers and sellers for over 100 years.

Check out the infographic below from NAR.realtor for a great visual of how you can get the most value out of real estate agency.

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