Why do Real Estate Agents Exist?
If we were to answer the question of "Why do real estate agents exist?" in the shortest way we possibly can, we'd say this: Real Estate Agents exist to help their clients buy and sell homes.
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Quick Answer: Why Do Real Estate Agents Exist?
Real estate agents exist to help people buy and sell property and to protect their interests through a process that is complex, document heavy, and financially significant.
A real estate agent prices and markets property, analyzes the local market, negotiates on a client's behalf, handles legal and regulatory compliance, and manages every step between an accepted offer and the closing table. In a market as building specific as Ocean City, MD, that local knowledge is often the difference between a strong outcome and an expensive mistake. For help choosing one, see our guide to the best real estate agents in Ocean City, MD.
Of course, almost every realtor who exists would tell you that their job extends way beyond that. Any Real Estate agent who has helped a client buy or sell a home will likely tell you that that it takes A LOT of work to get a home sale to the finish line.
A listing agent likely staged this home and had it professionally photographed, marketed that home on numerous platforms, answered countless calls, conducted hours of research, hosted an open house, negotiated multiple offers, presented those offers to their clients, attended a home inspection, and of course got the deal to the finish line. Some agents have a checklist showing the 200+ steps and tasks they perform for each listing! You read that right, two hundred!!
Furthermore, any real estate agent who helped their clients purchase a home, would likely tell you the same thing! Very rarely do home buyer’s only look at 1 or 2 homes for sale before they tell their buyer agent, they'd like to make an offer. That agent has worked hard behind the scenes before any showing happens. A LOT of time spent searching for homes that fit a buyer’s criteria, researching those homes, the communities they’re in, the comps, showing those homes, preparing offers, negotiating between four different parties, scheduling home inspections, the list goes on and on.
If you're reading this and thinking to yourself "This whole process may be time consuming, but does it take an expert to do it?" you're probably not alone.
I could also say that it doesn’t take a Plastic Surgeon to stitch a bad cut, but if I want it done RIGHT, I’m turning to the expert. I know there’s a difference between getting something done and making sure it’s done RIGHT.
When you hire an expert, more often than not you’ll find it’s more than worth it!
How did the current role of real estate agents come to be?
The role of a Real Estate agent, through the National Association of Realtors, has evolved over time. If you're on the horizon of your first home transaction in years, understanding how the current roles of Realtors came to be is important so that you know what to expect and who to hire.
Take a minute and consider this; before the internet Realtors had to keep books with printouts of listings in their area. If you were a Buyer’s agent, you had to take your clients to a home or condo before they even got their first look at the home you were showing them. Imagine that today... not even getting to see the front door of a home before you drive (potentially hours) to see it (without using google maps or Waze).
Additionally, social media has significantly changed how real estate agents have to operate. Not only do we use platforms such as Instagram and YouTube to attract new clients, we use them to market our listings as well! Similar to many other industries, technology has played a significant role in shaping the role of real estate agents, but we’ll go a bit more into depth on this later.
If you had to break down the current role of a real estate agent into just a few tasks, it would include things like property valuation & market analysis, leveraging local connections, negotiating deals, and of course, marketing. Not to mention we also simultaneously have to follow a TON of different laws & regulations that many people have likely never heard of.
Needless to say, GOOD realtors are MUCH more than just "door openers" (in our unbiased opinion). Just like with any profession, there are a few "bad apples," but any experienced and professional agent is just that... a professional.
What Changes in the Real Estate Industry Have Led to Realtors Roles Changing?
#1: Recent Law Changes in the Real Estate Industry
As many of you may already know, there have been some recent law changes in the real estate industry via rulings with the National Association of Realtors. These law changes relate to a real estate agents commission and can significantly affect how agents and real estate brokers are going to earn money moving forward.
You might be asking, "What are these recent law changes?" We could write a separate blog on this topic alone, but in short, these law changes say that sellers no longer have to offer a buyer’s agent commission, and a listing agent is not allowed to display a buyer’s agent cooperative compensation percentage on the MLS. This may lead to home buyer’s needing to pay their agents commission if the home they are purchasing is not offering a buyer’s agent commission.
Now, you may be asking- doesn't this bring us back to the main topic of this blog? Why do real estate agents still exist if I can purchase a home without one and potentially save money?
Well, the answer to that is that buying a home can be a stressful and difficult process. Using a realtor to help you navigate all the decisions that need to be made is WELL worth the money. Plus, you always have the option of requesting to your agent that you only see homes that are offering a buyer’s agent commission, which would mean you don't have to pay that money out of your own pocket!
#2: Online Real Estate Searches
As we all know, it is easier than ever to go "home shopping." There are a number of online platforms such as Zillow, Redfin, and Homes.com. While these sites are great for you to look at pictures and imagine yourself in your dream home...there's still something missing. When you're buying a home, it's important that you love how it feels, looks, and its location. Shopping online has come a long way, and we’re excited to see what the future holds. It may not be as easy as buying car insurance, but online-shopping remains a valuable tool for buyers and sellers.
With that said, it's ALSO important that you know about any rules & regulations in your area. Can you build a shed in your backyard or is it wetlands? Does your HOA allow you to modify your roof to that unique style you saw on Instagram a week ago? If you have a good realtor, they will be able to answer all these questions... which will in turn save you money in the same way shopping for a great interest rate will save you money. Both are worth it in the long run!
Additionally, if you're purchasing a second home, you need to know what's nearby. You want to be close to your favorite restaurants, bars, golf courses, beaches, maybe even a friend’s beach condo! That's why having a great LOCAL realtor will help you make sure that you not only get the right home for you in terms of aesthetics, but ALSO the right home for you in terms of location.
If you follow along some of our other social media platforms, you know we LOVE talking about what's nearby. If you haven't already, go checkout our YouTube, Instagram, or TikTok!
3 Reasons Real Estate Agents Will Continue to Exist
Reason 1: Local Market Knowledge
As we mentioned before, having a great local realtor is without a doubt one of the most important things to have when buying or selling a home... and one of the reasons we believe Realtors are here to stay! They have their thumb on the pulse of the local housing market!
A great local Realtor will be able to give you an unmatched amount of local market knowledge. Which, by the way, doesn't just mean being able to tell you the average price of a 2-bedroom, 2-bathroom home in your area. It means being able to tell you why a home is worth what it's worth... and why it is worth X number of dollars.
Is your Ocean City, MD beach condo located in a "masonry" or a "stick frame" building? Is it in a desirable part of town? Does it have amenities? Do you have a view?
All of those questions are imperative when you're buying OR selling a home. You either want to get a good deal for the home you're buying or get the most money possible out of the home you're selling. At the end of the day, THAT is the goal, and THAT is one of the reasons why skilled, professional, local realtors are here to stay. #Moneytime
Reason 2: Experience Negotiating Real Estate Transactions
Negotiating the purchase or sale of a home for our clients is one of the most stressful parts of the job. Of course, we're doing all of this acting as our clients’ fiduciary... so at the end of the day, what you say goes. With that said, there are a number of different ways to negotiate a real estate transaction that you may not know about!
Negotiating a real estate transaction can be one of the more difficult things to do. You have a number of options that can determine whether a buyer or seller will accept your offer/counteroffer. How much earnest money will you be depositing? Will you be doing an inspection? Are you paying cash? How much are you going to offer? Should you do an escalation clause? Is the home furnished?
Navigating the answer to all these questions can be difficult to someone who is not experienced in this space. If you're not careful, you could lose out on a buyer or your dream home worth $500,000 over a few hundred dollars.
We all know there’s more to buying a home than having some money in a savings account and putting the balance on your credit card. An experienced realtor will help you negotiate the sale or purchase of a home. In turn, you'll save yourself a lot of time, stress, and most importantly… money.
Reason 3: We Know How To Get The Deal Done
As you may know, once you finally have the home you are buying or selling under contract, the job is far from finished. There are a number of contingencies that still need to be met before you head to the settlement table to collect your keys and gift card.
You almost always need to make sure the title of the home is free & clear, have a home inspection completed, do minor repairs when needed, finalize your loan, get association documents if you're purchasing in an HOA, and any other small intricacies that may be included in the contract.
Your real estate agent will help you through each and every one of these contingencies. If you have a great agent, they'll also make sure you understand and are comfortable with everything that is happening.
Thanks for reading!
We hope we helped shed some light and answered the question of “Why do Real Estate Agents Exist?” If you're interested in learning more, or are thinking about buying or selling, we’d be happy to help! Don’t hesitate to reach out!
Grant Fritschle
Email: grant@grantf.com
Cell: 410-430-5880
Office: 410-524-6400
Jon Barker
Email: jon@markf.com
Cell: 410-935-3810
Office: 410-524-6400
See you at the beach soon!
Real Estate Agent FAQ
What is the purpose of a real estate agent?
The purpose of a real estate agent is to represent a buyer or seller's interests in a property transaction, using market knowledge, negotiation skill, and process management to protect the client and reach the best outcome.
What does a real estate agent actually do?
A real estate agent prices and markets property, analyzes the local market, finds and shows homes, prepares and negotiates offers, coordinates inspections and contingencies, and manages the contract through to closing.
Why use a real estate agent instead of buying or selling on my own?
Buying or selling involves pricing, contracts, disclosures, negotiation, and local rules that are easy to get wrong. An experienced agent helps avoid mistakes that usually cost far more than the commission.
Where do real estate agents work?
Real estate agents are licensed by their state and work within local markets, almost always affiliated with a brokerage. The Fritschle Barker Group works in Ocean City, West Ocean City, and the surrounding Maryland and Delaware coast.
Do I still need an agent if I can search homes online myself?
Online platforms are great for browsing, but they do not value a specific building, read HOA documents, handle negotiation, or manage contingencies. A local agent fills the gap between a listing photo and a closed sale.
Do I have to pay my own agent after the recent NAR rule changes?
Sometimes. Sellers are no longer required to offer buyer agent compensation, so a buyer may pay their agent directly. You can also ask your agent to focus on homes that still offer buyer agent compensation.
Are real estate agents still relevant today?
Yes. Technology has changed how agents work, but local market knowledge, negotiation, and the ability to close a complex transaction keep skilled agents relevant for buyers and sellers.
Thinking About Buying or Selling in Ocean City?
If you are weighing whether to work with an agent, the best next step is a short, no pressure conversation about your goals and your timeline. We are happy to help, whether you are years away or ready now.
Why You Can Trust This Guide
This guide is produced by Grant Fritschle and The Fritschle Barker Group at Keller Williams Realty of Delmarva. Grant is a second generation, lifelong Ocean City Realtor with 29+ years of experience in our coastal market and over 2,000 personal transactions. He grew up in Ocean City, was raised in the real estate business by his father Mark Fritschle, and co-founded The Fritschle Barker Group with Jon Barker after the new construction sell out of all 196 residences at The Gateway Grand, Ocean City's premier luxury condominium.
Grant is also Owner/Broker at Central Reservations, a vacation rental management company serving the Ocean City market since 1978, giving our team a dual perspective on both the sales and rental sides of coastal real estate. The team maintains a 5.0 star average across 110 Google reviews.
Questions? Call Grant directly at 410-430-5880 or contact our team.
Your Top Ocean City, MD Real Estate Agents
Today, they are recognized nationally as a top-performing group of charismatic, skilled Agents deeply connected to the vibrant towns of the Eastern Shore. More than agents, they are trusted advisors and community advocates, blending local knowledge with national strategy to deliver exceptional results.
The Fritschle Barker Group at Keller Williams Realty of Delmarva adheres to all Fair Housing Act guidelines and NAR ethical standards.