{"id":1689,"date":"2014-07-09T20:56:54","date_gmt":"2014-07-10T00:56:54","guid":{"rendered":"http:\/\/dankrell.com\/blog\/?p=1689"},"modified":"2021-11-23T17:31:27","modified_gmt":"2021-11-23T22:31:27","slug":"buying-a-home-is-it-a-product-or-service","status":"publish","type":"post","link":"https:\/\/dankrell.com\/blog\/2014\/07\/09\/buying-a-home-is-it-a-product-or-service\/","title":{"rendered":"Buying a home – is it a product or service?"},"content":{"rendered":"

\"house<\/a>If you\u2019re like many home buyers, your home search is focused on a home\u2019s specific features that are limited to your price range. Your search may seem \u201cproduct\u201d directed, at least initially. And unless you plan to go it absolutely alone; you\u2019re likely to be using a number of real estate related services as well.<\/p>\n

Before the multiple list service existed, when card catalogs were used to keep track of homes for sale, real estate listings were proprietary and buyer agency did not exist. Cooperation between brokers was not guaranteed; and as a result, real estate brokers mostly sold their own listings. Because the broker was the source of information about the home, as well as the home sale\/purchase process; the real estate broker\u2019s services were perceived to be one and the same as the product (the house for sale).<\/p>\n

Today, everyone turns to the internet<\/a> for answers, which has become the \u201cgo to guy\u201d for information. It seems as if the information found on the internet is treated as gospel, even when it is not verifiable. And this is particularly true for real estate. Home buyers, sellers, and owners use the internet to search all types of information including: homes for sale, home values, property tax, and the home buying\/selling process.<\/p>\n

Like some other service industries, you could say that the internet has contributed in separating the product from the service; consumers are no longer required to go directly to the real estate broker to search for a house or other real estate information, and consequently get their services too. Finding and viewing homes for sale without your agent has become easier; as is selling your home FSBO (for sale by owner). The resulting sentiment is the obvious questioning of the value of the real estate agent.<\/p>\n

When asked what an agent can bring to your real estate transaction, the consensus is that they are housing market experts. Real estate agents are invested in knowing local listing and sale activity, as well as networking within the industry to keep on top of the latest trends. They can interpret the home sale data to help you formulate a buying\/selling strategy (including price and terms). Experienced agents also typically have developed the ability to easily connect with buyers and sellers having a greater capacity to understand their specific needs to facilitate a smoother transaction. And although agents are often thought of as transaction facilitators; your Realtor\u00ae is a fiduciary, obligated to protect and promote your interests (while also obligated to treat all parties honestly). Agents are also required to be up to date on legislation that affects home buyers and sellers, which will help when structuring your transaction, including compulsory disclosures and obligations.<\/p>\n

Unlike the consumer experience back in the day when there was little choice in real estate services, you now have the luxury of choice. But choose your agent carefully<\/a>; agents are not all alike. Recent research indicates that veteran agents positively affect your transaction and are more efficient compared to rookies. Additionally, full-time agents have better outcomes than those who consider themselves as \u201cpart-timers.\u201d<\/p>\n

Savvy home buyers<\/a> and sellers benefit from their agents\u2019 experience and commitment. Smart consumers understand that experienced agents offer intangible services such as understanding the nuances of the housing market, as well as having an increased ability to engage the parties in the transaction.<\/p>\n

\u00a9 Dan Krell<\/a>
\nGoogle+<\/p>\n

\"Protected<\/a>
\nDisclaimer<\/a>. This article is not intended to provide nor should it be relied upon for legal and financial advice. Readers should not rely solely on the information contained herein, as it does not purport to be comprehensive or render specific advice. Readers should consult with an attorney regarding local real estate laws and customs as they vary by state and jurisdiction. This article was originally published the week of July 7, 2014 (Montgomery County Sentinel). Using this article without permission is a violation of copyright laws. Copyright \u00a9 Dan Krell.<\/p>\n","protected":false},"excerpt":{"rendered":"

If you\u2019re like many home buyers, your home search is focused on a home\u2019s specific features that are limited to your price range. Your search may seem \u201cproduct\u201d directed, at least initially. And unless you plan to go it absolutely alone; you\u2019re likely to be using a number of real estate related services as well. … <\/p>\n

Continue reading “Buying a home – is it a product or service?”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[270,382,405,13,402,23],"tags":[940,490,912,797,920,828,803,517],"class_list":["post-1689","post","type-post","status-publish","format-standard","hentry","category-home-buyer","category-home-seller","category-homebuyer","category-real-estate","category-real-estate-agent","category-realtor","tag-buy-a-home","tag-home-buyer-2","tag-home-seller","tag-real-estate","tag-real-estate-agent","tag-real-estate-brokerage","tag-realtor","tag-selling-a-home"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p1VZLf-rf","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/posts\/1689","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/comments?post=1689"}],"version-history":[{"count":2,"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/posts\/1689\/revisions"}],"predecessor-version":[{"id":6334,"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/posts\/1689\/revisions\/6334"}],"wp:attachment":[{"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/media?parent=1689"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/categories?post=1689"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/tags?post=1689"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}