By Margaret Waage
Spring is a welcome season for New Englanders, but it’s also a favorite for realtors. Southington’s Putnam Agency Real Estate office, is not only anticipating the spring market, but they are celebrating 50 years of serving the real estate needs of Connecticut.
Owner and Broker Sherry Davenport spoke about how the industry has changed, over the years, but how the basics, buyer and seller representation, is still a vital service that cannot be underestimated. Putman Agency Real Estate was voted in the top two real estate service providers in Southington in 2012.
Davenport expressed thanks to all customers and clients saying that while buyers and sellers have embraced web technologies, “Realtors help navigate through a complicated process. Buying or selling a home requires a professional who will assist in avoiding costly mistakes and delays. Experience is key – the real estate industry is ever changing, and is so important to work with a Realtor who is knowledgeable.”
Many homeowners are familiar with fluctuations in the market value of a property. Davenport said that the northeast experienced a housing boom with prevalent building, but noted that the market began to slow down in 2005-2007, and the volume of home sales decreased along with prices.
“There was continued movement in the market but not at the level in earlier years,” she said. “We are currently seeing the market begin to recover, as well as a slight increase in home values.”
Communications today are done primarily using email and text, unlike days of past where landline phone communication were critical for making timely offer and counter offer decisions. While the internet gives buyers access to information like municipalities, school information, and mortgage information, it is the job of the realtor to put those resources into context. Access and understanding a property purchase are two different things.
“Our office embraces both technology and personal services. Technology has become integrated into our industry but we strongly believe in working closely with buyers and sellers throughout the buying and selling process.” Davenport said.
When asked why a buyer or seller should work with a Realtor, Davenport elaborated, “Realtors help navigate through a complicated process. Buying or selling a home requires a professional who will assist in avoiding costly mistakes and delays. Experience is key – the real estate industry is ever changing, and is so important to work with a realtor who is knowledgeable.”
Davenport went on to explain that how important communication is in representing buyers and sellers. “We strive that all parties fully understand each and every stage of the process,” she said. “A real estate transaction can be very stressful. We strongly believe honesty, professionalism, clear communication and a sincere dedication to help clients and customers are key components.”
Davenport feels that the internet has played a large roll in educating the consumer, but Realtors have also contributed to educating buyers. In the last 15 years The State of Connecticut mandated all Real Estate agents must fully explain to all buyers how a real estate agent can represent buyers in a real estate transaction. This has contributed to buyers being fully informed and has been a positive change to the industry.
If someone were thinking of selling their own home, commonly known as For Sale By Owner (FSBO), Davenport said that choice can ultimately cost the seller more in the log run. Pricing a property correctly is critical to a successful sale as the market is extremely price driven.
“Additionally, the qualification of a buyer, lack of exposure and home showing accessibility are also major concerns to sellers of FSBO properties. As we see the market recover a knowledgeable Realtor is vital,” said Davenport.
The Putnam Agency is not part of a nationally franchised organization. It is an independent company providing professional and personalized service.
Putnam Agency serves all of Connecticut in Residential and Commercial real estate. In addition to representing buyers and sellers, D & J Corporation Custom Home Builders (A Putnam Co.), has built hundreds of homes over the years.