26 Dec Realtors Appreciate Your Support While Shopping Local
Support Local by Using a Local Realtors
As most of us are aware “shop local” has become something of a trend over the past year. It has become more important than ever to support your local business. But, what many may not think about is certain types of local business like Realtors. In general, people seem to have the impression that Realtors have life easy! People think that a real estate agent just happens to answer a phone, show up at a property to show it, then hold their hand out at the real estate closing for a big fat check! I wish! If fact Realtors don’t have it easy at all! Most real estate agents get their license thinking and start looking at brand new BMWs but, in fact, most agents fail very quickly. The attrition rate for Realtors is somewhere around 87%. The average agent left works their butts off for an annual income of less the poverty rate. Even the real estate agents that are good have a very hard time due to competition.
Competition in this industry comes from many different places. First, there are those that we just talked about. They get there license because they think that its going to be easy. Why wouldn’t they when there are many online real estate schools that make their money by telling people its easy. These schools get paid if you fail or succeed!
The second form of competition is from the good real estate agents, this in my opinion is positive competition and acts as a filter to keep the industry clean.
A third type of competition is the “for sale by owner” movement. I understand the ignorant bliss that someone would experience while thinking they are going to save money by excluding a Realtor. This bliss may turn into a bit of hard love! There are many scams targeting the for sale by owner crowd, legal liabilities are on the real estate Seller and studies show that Realtors sell properties for more money…even after considering the commissions!
A forth type of competition is for the control over the industry. This really started with the invention of the real estate search portals like Zillow, Trulia and in the commercial real estate world…Loopnet. You can find out more about this here. Loopnet is owned by a group called CoStar, who is desperately trying to consolidate the commercial real estate market. When these companies are small, they are very grateful to the Realtors who are the only reason the real estate search portals exist and survive. But, at some point they take control and that’s when things get a bit dicey. For example, there was a class action lawsuit against one of these companies for rebranding photos that real estate agents uploaded to their site, then telling these agents they are no longer allowed to use the real estate photos on other sites.
Long story short, real estate agent perform a very important service to their clients. They have been around the block many times and have seen it all and leverage that knowledge to sell for more, negotiate to save money and guide their clients through the entire process. This is why you should support your local real estate agent.
If you are considering buying or selling real estate in Chautauqua please feel free to call, text or email me!
Michael McVinney | Realtor
Real Estate Broker
ERA Team VP
MLMcVinney & Associates, LLC
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You can Search for Western NY Real Estate, including Chautauqua Real Estate here where you will find more real estate listings in Chautauqua than any NY MLS.
Micro-Bio: I am a real estate broker with over 20 years of experience in the real estate industry in both residential and commercial real estate. My primary focus is in Chautauqua County, in Western NY, especially Chautauqua Lake Real Estate…including Bemus Point, Lakewood, Jamestown, Mayville, Stowe, etc. You can search for Chautauqua Real Estate here. My website has all of the listings that Zillow, Trulia, Realtor or the NYS MLS has.