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FSBO (For Sale By Owner)

Why do more people hire REALTORS today than they did 30 years ago, given the mind boggling impact the Internet has had on the planet? With all of the free advertising available on sites like Facebook, Craigslist, Trulia, Zillow and dozens of others, why would anyone need a REALTOR at all?

Advertising properties is certainly an important part of real estate. But after new agents spend just a few months in the business, they witness how serious, complicated, risky, fragile, emotional, scary, frustrating, time consuming, foreign, draining, and surprising a real estate transaction can be for both buyers and sellers. They learn quickly, why 89% of 2015 home sellers worked with a REALTOR (citation here).

Let me illustrate the reason for the increase, using this analogy: During flight school, I was surprised how easily new students learned to operate the controls of an airplane. Really, there isn’t much to it. Up, down, left, right, faster, slower etc. But the 10 years+ it takes a beginner to become an airline pilot, has little to do with flying the airplane. Like in real estate, the expertise comes from learning how to handle the endless numbers of things that can go wrong. This is what 90% of the extensive training is about. Instead of anticipating how to survive an engine failure during takeoff however, good REALTORS constantly train to anticipate what happens if the buyer misses a deadline, a defect turns up during the process, or the seller is not moved out in time, etc. The possible pitfalls are endless, and even the most experienced Brokers occasionally run into new problems.

In your job, does the outside world view of your industry a little differently from how it is viewed by you and your colleagues? Outsiders usually have a little bent on reality compared to the people on the inside of an industry, don’t they? Could a layman step in and perform the nuances of your job as well as you do right away? Real Estate is no different and mistakes have big consequences. There is a lot to the buying and selling process that the public doesn’t understand. Our job is to educate our clients and help you avoid costly mistakes.

But, just as it is too late to hire a flight instructor once the airplane leaves the runway, Wisconsin won’t allow you to hire a REALTOR after you sign an Offer with a buyer.

Find more articles written by Nate here