In Canada, we are not experiencing the same pain that the US has been experiencing over the last 3 years. Our growing pains are different. Recent press about opening up the MLS to do-it-yourself realtors has caused a furvor in the real estate industry. Who do you want to handle your most valuable asset?
This article from Keeping Current Matters blog can give you some perspective:
Imagine for a moment that you have been told that you need surgery. You have a choice between two surgeons:
The first has a wonderful disposition. He holds your hand as he explains the procedure, the risks, the rewards, and the likelihood of success. He may even shed a tear as you deal with the shock. His bedside manner is incredible; however, his personal success rate for this surgery is 80%.
The second doctor is a bit of a jerk… cold, with a “just the facts” approach. She seems to look right through you as she delivers her strategy for your recovery. At the same time, her personal success rate is 99%.
Who do you pick to do the surgery?
Well, your choice may be swayed by whether the surgery is life-threatening or not. Are we talking in-grown toenails or brain surgery here? Let’s assume it’s somewhere in between, say eye surgery. Your life is not in danger, but I think we all want to be able to see.
When I pose this scenario to most people, they choose “excellence in execution” over “likeability” virtually every time. We choose PROFESSIONALS based on results, often by referrals from others who can vouch for the results.
Why would it be any different when choosing who to work with on the largest financial decision you are likely to make this year (the buying and/or selling a home)? Of course, we all want real estate agents and loan officers who are both likeable AND competent, but we should be leaning towards knowledge of the market, advice and specific strategies to achieve our objectives.
No longer should we be hiring an agent or mortgage professional because we know them from the soccer field or PTA. Forget the days of listing your home with someone who you think you will enjoy working with because if your home doesn’t get sold, you aren’t going to like them for very long. Don’t be making loan applications with your nephew, just because he is your nephew. You need more than that.