Real Estate myth busting #1

From time to time, I will address certain Real Estate myths that I uncover, and I will expose them here in the blog. As I discover new ones (and people are always creating new ones...these things are like computer viruses, folks), I'll be sure they are brought to light here.

Here's one that I am going to debunk right now. I was speaking with a prospective client a few days ago. This person was very savvy and knew quite a lot about Real Estate and what is involved in selling one's property. Towards the end of our conversation, she asked me, "Why does it take so much longer to close when REALTORS are involved?"

The short answer is, "It doesn't."

Working with a REALTOR will not, by itself, increase or decrease the time between getting "under contract" and closing. Now, a REALTOR might suggest that a client increase this duration due to contingencies on obtaining financing, selling one's current property, waiting for a lease to expire, or about a thousand other possibilities.

All of these things can and do happen with "For Sale by Owner" situations. The real difference is that, without a REALTOR, you may not know to ask for a longer time before closing. A REALTOR is trained to ask the questions that the client may not think to ask. Be sure to tell your REALTOR about your situation. Treat him or her like your closest friend. We have a fiduciary responsibility to our clients. If you don't think you can trust your REALTOR, dump them and get a new one.