The NETAR region’s mid-year housing market report affirmed that the last half of 2024 is going to be chaotic. 

Home sales slumped 20% in the traditionally strongest month of the year, price growth flatlined with less than 1% growth, and the growth of the move-up and luxury market stalled. Sellers are making more price reductions, multiple offers in all but the choicest affordable priced properties are down, and concessions are up. And to top it off the core business of buying and selling residential real estate is moving through some rules and regulations stages. Some of that was outlined in last week’s column. Copies can be found in the Classified/Real Estate Section of the Weekend Edition of Kingsport Times-News and on the NETAR website. 

It’s the type of market that makes some just want to sit back and see what shakes out, but there’s another group who get fired up because it’s a market that offers opportunities for those who know how to find them. It’s also the kind of market the proves the worth of partnering with a local Realtor®.   

Study after study shows sellers who use a professional for their real estate needs consistently net a better price than those who go it alone. Buyers also reap rewards. That may seem like a contradiction in an era when technology offers advanced communications and marketing abilities. But it’s not, and here’s why. 

The folks at the National Association of Realtors® (NAR) have compiled a list of 179 things Realtors® do for their clients that make them worth every penny of their compensations. Just for good measure, the list has an additional 105 things that are at play for almost every transaction. But the list is more than just an explanation of a Realtor’s® worth. It’s an insider look at what’s involved in the often-over-simplified process of a real estate transaction. A copy can be found on the NETAR Website at https://netar.us/why-realtors-are-worth-every-penny-of-their-compensation/  

The use of Realtors® is at an all-time high because savvy consumers see the advantage and need to have a pro in their corner. At the same time, the Realtor®-client relationship continues evolving. This makes sense because it’s not like most other business relationships. In many ways, it’s more complicated and very personal. That’s why it’s important to shop around and find an agent who is a good match. And consumers shouldn’t be timid about interviewing several agents and checking their references. They should also be candid about their expectations and be committed to take the advice of their agent. 

Realtors® specialize just like doctors, lawyers, and other professionals. So that alphabet soup after a Realtor’s® name on their business card can be a road map to their specialties. Here’s a link to a National Association of Realtors® Website that gives detailed information on designations and certifications. http://www.realtor.org/designations-and-certifications 

Client-Realtor® communication is a major factor. Are you a face-to-face communicator, or do you prefer email or texts? Do you want your Realtor® to guide you through the process? Or are you going to be a more hands-on client? These are the types of considerations that should be part of the agent screening process. 

The best Realtor®-client partnerships happen when the personal chemistry is compatible. Buyers and sellers should step back and test the chemistry issue before making a final decision. Is the prospective agent someone they want to spend time with? Are you comfortable sharing personal and financial information with them? If there are doubts, keep looking. 

In many cases, a client, and their Realtor® partner will spend a lot of time together before the deal is completed. There will be some hitches. Things will go wrong, and even the best plans get changed. Expect some extra stress. Choosing the right agent will take the edge off the process and make it easier and more successful for everyone concerned.