Moving In/Out With Alex Sung – 10 Reasons Why You Should Work With Me

Top 10 Reasons to buy or sell your home with alex sung of www.alexsungnyc.com

Before June 24, 2021 when cold calling was outlawed in New York State due to the Covid pandemic, I did a lot of cold calling almost every single day. My goal was to create new business by calling homeowners within subdivisions of Queens, New York. Every so often I would come across homeowners and investors who were adamant that they did not need a Realtor; that they could do it on their own. Some even claimed to have successfully sold their own homes without having to pay exorbitant commission fees to any brokers. 

And it was probably true. They probably have sold or bought their own homes without the help of a Realtor. Is that always the smartest move? No. Is it a smart move sometimes? Yes. Here are 10 reasons why it is so important to hire a Realtor.


1) Time Value of Money

You have better things to do than spend 8 hours of your day reviewing purchase offers and sifting through google.com to see if you are doing the steps correctly. Also you have less of the hassle of doing your own due diligence in sifting through purchase offers, ensuring correct escrow process, background checks, and more. This all in addition to your 8 hours at work. Think of all of the opportunity costs you could be spending your 8 hours after-work on. For example you could be increasing emotional equity in your children (if you have any), especially if they are at an age where development is crucial. 


2) Receive better deal(s)

A Real Estate agent has a fiduciary duty to ensure they have your best interests at heart, while being fair and equitable to third-party customers or benefactors. Real Estate agents must be sure they are following their code of conducts and ensuring you have the best results as possible. What this means for you is that they can put all offers on the table right when it happens, and they will help negotiate the best outcomes. 


3) Higher pool of buyers or sellers

Realtors that belong to an MLS are more apt to provide a higher chance of winning. When a Realtor belongs to a multiple listing service, they are able to have more networks than if you were to sell it on your own (FSBO), or with an agent that does not belong to a listing service. 


4) Connections

Have you heard of the phrase "3 heads are better than one?" In this case that is exactly correct. When we have more mind power in a deal, we have more eyeballs on the prize. A Realtor is your third eye, and is someone you can trust, not just for today, but for future deals thereafter. When you build a connection, you build long term equity. This means you build more trust. Even if you might be an introvert like me, the more quality connections you build, the more results you will see in the long run. A good Realtor also has connections that will help streamline the process. They have a list of mortgage brokers, inspection companies, closing attorneys, title insurance companies, and more.


5) Creative Thinking

Many Realtors you come by will be lackadaisical and frothy. In an industry that has a lot of old-money, new-money – means creative thinking. You need someone who will stay in compliance while staying in the throes of competition. When you start becoming complacent, you lose in the long-run. You need someone young at heart to keep you sharp. You are the 5 people you surround yourself with. 


6) Forward Thinking

Forward thinking means thinking ahead. It sounds like an easy pill to swallow, but if you think about it, most people do not follow this ideology. Think about when your company hired a new agent. When new agents are onboarded to any company, they think about themselves usually. "When does my PTO kick in, I want to go to the new Kanye concert next week ('maybe I can ask for time off?'), etc." When new agents become tenured, they learn the value of becoming a team player. When they shift their paradigm, they learn that in order for them to have a job in the first place, they must be proactive about their goals and priorities way in advance. They need to be very tactical about how they use their PTOs, and how they interact with their coworkers. By thinking in advance, while still enjoying the present, they will have better results in the long-run. 


7) Delegate

When you think about the pennies, you lose out on the millions. Think about all of the previous items listed above. Think about 6% of $450,000 (for a seller's commission), as opposed to the future value of millions of dollars in capital gains as a result of working with an agency over the long term. When you start looking at the big bucks and less on the pennies you will learn that having a 20% profit margin after expenses, while saving time equity, is a much higher ROI both internally and externally. Would you rather save 6% in commissions fees than 360 hours of your life? The choice is yours. 


8) Failure

Even the best agents fail sometimes. Despite doing all of their research, sometimes they can't calculate human error or malfeasance. For example, a few years ago when the pandemic was at its apex, in the state of California, a Riverside couple inquired the practice of a local Real Estate Agent. After negotiating back and forth between the seller and the buyers, the Realtor ultimately concluded the deal and the couple closed on a beautiful mansion in Riverside, California. What came next was unexpected. After doing rigorous due diligence, the Realtor and the newlywed couple later find that the seller never intended on selling at all. The seller used a loophole that was enacted shortly after the sale closed. Governor Newsom enacted an eviction moratorium which stated that landlords and the like could not evict a tenant during a period of state emergency. This made it so that the new homebuyers could not evict their now-tenant and former-seller from their own home. After almost two years of bitter back and forth, they were finally able to move into their home, which they now despised. Because they had procured the uses of a Realtor, they were not alone in this war of attrition. The Realtor was able to work with his clients to ensure that they procure the best team possible and to figure out how to pivot from this.


9) Different Point of Views

First or second-time homebuyers and sellers might sometimes have internal conflicts. When someone does not check their biases, they might end up not having the best possible outcome. If you don't hire a good Realtor, you might never have the benefit of someone providing you what you should hear. After doing lots of research a Realtor might be able to tell you his best estimate to price your home. Otherwise you might decide to price your home exorbitantly above the market value. Doing so might cause the exact opposite of the results you want. Sometimes pricing a property too high can cause less results in profit margin than if you were to place it at a competitive pricing. This might mean a lot of lost time, and less efficiency. 


10) Don't Just Hire Any Realtor; Hire the Best

Hiring a bad Realtor is like paying for a service that you can do the same quality work on, if not better. Sometimes when customers have a bad Realtor experience, it might just mean that they hired someone new. Pay for the quality of the agent and don't hesitate to fire them just as fast. A good Realtor will work with you and keep you at ease. They will be understanding, kind, but still savvy at what they do. Hiring the best quality Real Estate Agent will save you time, headaches, and provide you a perspective that you wouldn't get elsewhere. 


Conclusion

After reading this, I hope you gained a perspective about Real Estate that you hadn't thought about otherwise. One time when I spoke with some FSBOs (two of them in fact), they relayed to me that they priced the home at way under market value because they needed to sell their home quickly or to gain a profit quickly. This showed me that they were desperate and most likely had done something incorrectly at some point in the process of homebuying or home selling. Maybe they had bought the home at a premium, and had in fact bought the home themselves. Because they didn't negotiate the purchase price of their home, they had no liberty to negotiate the sale price either. Because their profit margin was so thin, they didn't want to entertain the idea of hiring a Realtor to sell their home. Maybe they had used the sale price of their home to purchase a new property (on a  purchase offer accepted). In any scenario, I hope you do see the use case of Real Estate Agents, and when you might need to hire them or when you might not need to. 

Moving In/Out With Alex Sung – 10 Reasons Why You Should Work With Me Moving In/Out With Alex Sung – 10 Reasons Why You Should Work With Me Reviewed by Alex Sung on July 05, 2021 Rating: 5

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