I saw this article today and absolutely love that Realtors are stepping up to the plate and getting their hands dirty to help their clients. As both a professional home buyer and Realtor, I’ve seen a dramatic increase in what traditional Realtors are willing to do in response to the down market.
Realtors roll up sleeves to move property
WEST PALM BEACH, Fla. – Nov. 3, 2009 – With the days of easy home sales long gone, today’s real estate agents are finding themselves going to great lengths to get property deals done.
“We used to have a market where people were just writing offers and buying homes and you didn’t have to do anything because it all just happened,” confirms Realtors Association of Palm Beach County CEO Brian Paul. “Now, in this market, people are having to really work.”
Sacrificing a percentage of their income can be part of that effort, but it’s not the only part. At a time when banks are stingy with financing and short sales can drag on for months, Realtors are getting their hands dirty in order to make sure properties pass appraisal. That means spending their own money and strapping on toolbelts to repair roofs, electrical systems and air conditioners and, in the case of Federal Housing Administration loans, laying carpet and installing stoves so that those requisite amenities are in place.
Because Realtors can lose a significant amount of time and money if the transaction ultimately collapses, they must use good judgment to determine whether it is a good gamble to invest their own funds into selling a property – and also whether it is in the best interest of the borrower.
Source: Palm Beach Post (FL) (11/01/09) Miller, Kimberly
