Where Do Agents Spend Their Time?

Ever wonder what your real estate agent is doing between the time a contract is signed to buy your house and the closing?

Most likely, a whole lot more than you think.

A recent time study shows that agents spend most of their time in three areas:
1. Showing Property and Negotiating Contracts;
2. Supervising Financing/Funding Matters;
3. Removing Contingencies From The Contract So The Property Can Close.

Of those three things, agents spend 10 percent of their time dealing with financing matters. They spend 25 percent of their time showing the property and negotiating the final contract. The remaining 65 percent of time spent on a real estate transaction by an agent involves handling and removing contingencies from the contract so your property can close.

A lot of this time spent removing contingencies is spent by the agent on the phone, arranging inspections and repairs, double checking closing procedures and progress, dealing with title matters, contacting various vendors to the sale and a host of other related duties that buyers and sellers never see. Sellers and buyers need to remember that virtually nothing gets done toward completing a closing unless the agent makes it happen in a correct and timely manner.

So, next time you think your agent gets paid an awful lot of money for the time spent completing a transaction, remember this. First, you probably don't see all the hours of work that go into completing a closing. And second, agents doesn't sell time, they sell houses.

For more information on real estate in the Tampa Bay area, visit my website at www.TheStPeteRealEstateSite.com.

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