Luis D. Ortiz

Luis discusses what makes a good agent and why it pays to not try to sell your apartment yourself.

on May 1

I have to say, I'm in love with this episode. This show is really about so much more than just real estate. It's about the stories behind every transaction. It's about the emotional aspect of buying or selling a piece of property that means so much to a buyer or a seller. It's about the characters behind every deal. Real property is where we live, where we work, where we eat, where we go to entertain ourselves. That's why it is so dramatic and emotional.

In this episode, I sell an apartment for Sam, a property owner who wants to move to San Francisco but needs to sell his apartment before he leaves. I found Sam by calling a list of owners who were selling their apartments on their own without using a real estate agent. In my opinion, I believe, that selling on your own is not the best approach to take. Most sellers choose to go this route for many reasons. Sometimes they believe they can get the apartment sold quickly because the market benefits the seller. In other cases, they don't want to pay the broker's fee because they believe the broker will not bring any additional monetary value. And in some cases, they just feel that no one can do the job better than themselves. I do understand that mentality. However, hiring a good agent is the only smart choice. In bad markets, a good agent can get your apartment sold. And, in good markets, a good agent can get you the best price possible. When a seller lists an apartment on their own, 95 percent the phone calls will come from brokers trying to get their business. That's a huge waste of time and in most cases will cause unnecessary stress. Other calls will be from buyers that are looking for apartments, but are not really serious in moving forward right away. If they are serious, most sellers won't be able to fully qualify buyers to know whether they can afford the property or not. A good real estate agent is worth hiring, period. The commission the seller wants to save by not hiring an agent, is not worth more than a property not sold.

Now, hiring a bad agent can be the worst decision. You need to interview agents and carefully consider their experience and track records. However, the most important thing is to know weather or not the agent will be committed to you. You want to be certain this agent is not getting your business to expand theirs.