As an agent, you’re job isn’t done – and you don’t get paid – until the transaction has closed. There are a variety of roadblocks that can prevent a closing. Some you can’t control (buyer loses a job, etc.), and some you can. For a smoother road to closing, ensure that you’re doing these 4 things at the start.
Buying a house seems simple enough. Look through the listings online, pick what you want and away you go. Hold your horses there, partner. Buying a home is an important financial transaction that requires some very important steps:
Last year almost 5 million single family homes were sold, according to the National Association of REALTORS®. The average individual (not team) agent does 5.1 transactions a year. So an agent with 5 years’ experience has only sold 25 homes.
That doesn’t translate to a lot of real-life experience. There are two reasons for this. First, these agents are selling real estate as a “side job”; they haven’t generated enough business to sell real estate full time or they’re not really committed to the career. The second reason is that even if the agent has a decent network, they’re so bogged down in the marketing and many steps to closing that they can’t take on more clients.
Neither of these scenarios benefit homeowners.