Top Secrets Your Broker Won’t Tell You
Top Secrets Your Real Estate Broker Won’t Tell You
Do you ever feel like real estate brokers have something to hide? Your feeling isn’t wrong because many real estate professionals know secrets about the process that they choose not to share with you. For example, they know that you can technically do this process without them, but even so having an agent on your side is the smartest decision you can make when buying or selling. They also won’t tell you that their commission is negotiable and that they are the ones that want to have an open house. Take a look at these top secrets and more.
The open house benefits the agent
Did you know that your agent is secretly the one that wants you have an open house because it benefits him or her more than you? While it’s a great way to find potentially buyers, many people that visit open houses are there out of curiosity and aren’t ready to buy. The agent will likely gain new clients this way that can benefit him or her in the future.
Agents want your listing even if you don’t want one
If you’ve decided not to hire an agent, listing your home and mentioning that you don’t have a broker will get you attention from an agent. You’ll likely receive calls trying to sell you on bringing them in on the process so that they can work on your behalf.
An agent will try to get you to list the house with them even if you are trying to list the house yourself. Avoid the sales pitches and get paired up with a great agent from the start, using Elitereferral.com.
You can’t be greedy just because it’s a buyer’s market
Another secret you may not have known is that during a bad seller’s market, you’ll want to avoid trying to get greedy and expecting a major deal. A buyer’s market will be an advantage to you, but being too greedy will cause you to have unrealistic expectations.
Commissions are negotiable
One of those costs you should expect is your agent’s commission fees, but you may not have realized that these are negotiable. Don’t be afraid to haggle on the commission some, especially if you’re buying a luxury property. That standard 6% commission doesn’t have to be standard in every situation.
You don’t have to use an agent
One of the biggest secrets your broker won’t tell you is that you don’t have to use him or her to buy or sell a home. Knowing this though causes many to try to do it on their own. This means that you’ll have to navigate the process alone, hope that you don’t sign anything that causes you problems, and you’ll have to attempt to negotiate on offers yourself. Be sure to work with a great agent that will have your family’s best interest in mind, even though you technically don’t have to go through one.
That’s a look at a few of the secrets your broker isn’t going to tell you.