Real Estate Agents; Worth their Fee?

With the current economic crisis and the mortgage meltdown fresh in everyone's mind, many are wondering if Real Estate Agents are worth their fee? While Real Estate Agents may have played a part in the housing bubble, they are not completely to blame. Like many experts in their field, Agents deserve to be compensated for their knowledge. In a complicated area like Real Estate, knowledge is a very valuable commodity.

There are several factors which go into creating great real estate agents worth their fee. First, an agent must know about area neighborhoods and schools, must know about the community and amenities and must be familiar with the home they are representing. This can include foundation and construction information, all the way up to interior design and plans for neighborhood expansion. A good agent gathers this knowledge over time and does a ton of research to back it up.

A consumer on the other hand would have to spend hours conducting the research themselves, and driving through block after block to get a feel for the community. Online searches can reveal information about school systems and neighborhood features, but a qualified Real Estate Agent may be able to point out benefits the consumer wouldn't be aware of.

Anyone considering purchasing a home should look at a Real Estate Agent as a filtering mechanism (a walking talking mechanism!). It is the consumer's job to describe their dream home to an Agent, and the Agent's job to weed through the thousands of listings on the multiple listing service to find those homes that match the house hunter’s criteria. That alone is worth the fee!

The Fee itself is usually paid by the Seller and can be split among several agents who work on the sale together. While the fee may seem high at first, understanding that the agent screens prospects into qualified buyers for the Seller, and provides buyers with viable home opportunities to help them find their dream home, the time spent makes a Real Estate Agent worth their fee.

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