Occasionally I run into buyers who let me know right up front that they believe that they know what an experienced Realtor knows about buying and selling houses because they have bought and sold several homes in their life time. Well, having experience in buying and selling a house certainly counts for something, but I can tell you with no hesitation, I have yet to meet a person outside of the business who has put in the number of hours that I put in, or closes 1/25 the number of houses that I close on a annual basis in Austin. So, why does that matter? and what does that have to do with my taxes?
First of all, Real Estate is like any other business. It is changing all the time. Over the past 3 years we have seen dramatic changes every quarter in the local and national markets. Texas contracts have changed each year. And contract laws are different from state to state. The type of information that a seller has to declare and the kind of information that you have at your finger tips in Texas (like sold comps)is different than other states. It is not all public information here and our contracts are different. Besides the local changes and differences between states--I do Real Estate 70 hours a week. I write contracts. I work with lenders, inspectors, contractors and title companies. I see property survey and easements and flood plains. I write amendments to contracts. I see new homes from different builders, and resells all across Greater Austin. I see many contract pit-falls and places where things may be "hidden" in plain sight--because I do this every day.
I just got my tax returns from my CPA this week and he saved me a bundle of money. I used to do my own tax returns for many years, and what I discovered is that even with the best software and spending most of the weekend before tax day working through all the new forms and deductions, I still did not have the breath of experience and understanding that my CPA has, and for the few hundred dollars that I pay him, he saved me countless time and money--worth far more than what I paid him to do my taxes. I know enough to know to realize that I save far more money by relying on his experience and expertise, than working it out on my own. Could I have done my own taxes for $99--sure. But I have learned over the past few years that I come out much further ahead of the game when an experienced CPA helps me do what he does best--every day of the week. Every week of the year.
Having experience in buying and selling a house is a great thing and can be a great asset when you get ready to buy or sell your next home, but unless you are buying and selling 25 homes a year in Austin, you probably make a far less effective negotiator and real estate professional than some one who does this full time, in Austin, and sells as many homes each year as I do.
If you would like help doing your taxes, I have a great CPA that I can recommend to you. If you need help with your Real Estate needs, I also have a great Realtor that I can recommend to you.
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