Some Things the Real Estate Agent Doesn’t Want to Know

Some Things the Real Estate Agent Doesn’t Want to Know

Some Things the Real Estate Agent Doesn’t Want to Know

Every year’s millions of people sell and buy homes. The common thing about both is that they hire real estate agents, to ensure the process goes well.

So, if you are planning to move and looking for a real estate agent, there are a few things about which you must know. These are the points that an agent isn’t going to mention to you at all.

No Need to Hire an Agent to Sell a House

If you have enough time to research pricing and have enough skills to take great pictures of the home, you can manage the selling process without an issue. Also, if the housing market is doing well, the possibility is there that you may have to do nothing. Just invest in the “for sale” sign and within no time you will get plenty of options.

However, there are a few things that you have to keep in mind as a seller. Always price the house correctly. If you underprice the property, it simply means you are losing money and in case you price the home too high, the possibility that you might not sell it ever is high. Later, even if you lower the price, the chance to get good deals are minimal as you missed the new-home buzz.

Now the question arises how to set the home priced correctly? The answer to this is to walk around the area, look for houses similar to yours and do the price comparison. You will get a good idea of what the home price should be..

Avoid Commission by Bringing Your Buyer

Are you planning to hire a seller agent tomorrow or the next day? However, a neighbor or close friend of yours has already seen the property in Lahore smart city project and is interested in it. At that time after hiring an agent, if they make an offer, you have to discuss everything with your agent.

Hold on, why move so fast? Before hiring an agent, disclose in written form about the potential buyers showing interest. Once you disclose this and the buyer makes a purchase, you don’t have to rely on the broker or pay any commission.

Commission Is Negotiable

The property seller pays commission to their agent and even to the buyer’s agent, once the property is sold. Now the commission standards are fixed by the industry. However, everything is negotiable in a real estate transaction, including the commission.

So, as a seller, you can negotiate the price. Mainly if you are planning to hire the same agent while selling and even buying a property. Negotiation becomes also simple when the price of the home is high.

Now one thing a seller has to keep in mind is to discuss the commission before signing any deal with the real estate agent. Moreover, there is no need to pay any commission, if home selling didn’t go through. Yes, you heard it right you don’t have to pay commission to the agent if the process didn’t go as you expected or promised by the agent. 

Open House Is Not for You

You may spend your entire day cleaning the house, so it attracts the buyer. But it might not help you in any way. As the number of people buying open houses is declining because of the internet option, as they can find homes there. All this happens because open houses rarely attract serious buyers but it gives agents a chance to make new clients. 

So, those who have questions in mind that why do agents host open houses? The answer to this is that many casually come to the open houses for a visit. Now the possibility is their real estate agents most of the time use this opportunity to start a new business for themselves.  And that’s the reason many real estate agents leave their cards behind. So, make sure your time isn’t wasted in any way because of a lack of knowledge.

Small Agencies Are Equal to Big Ones

No agent will tell you the fact that small agencies can do equally well for you, as big ones too. Without a doubt, big agencies have recognition and enough marketing budget. However, because of this never be sure that they will do the best for you.

Big agencies hardly negotiate but small agencies do. Moreover, the agents working in big agencies are always under pressure to meet their sales goals that don’t allow them to pay attention to your needs.

The small agencies always make an extra effort to provide excellent customer service. Moreover, the internet also helps the agent a lot, as they were able to advertise the home effectively as big ones. The only thing that an individual has to do is they don’t trust one agent only.

Without a doubt, big agencies have recognition and enough marketing budget. It is better to interview multiple agents and then decide who is the best for you. If they have an online platform, make sure you visit it and read the reviews given by old customers. You can even ask the agent directly to provide you with a reference. Those who have nothing to hide will never say no to you in this regard.

Now after learning these things don’t think that all the agents are bad. Without a doubt, you can sell the home on your own but the possibility is there that you fail to set a reasonable price. However, the agent will stop you from making this mistake.

You must make a decision keeping in mind a few things. Firstly, are you willing to put time and effort into research? Secondly, how much knowledge do you have? Remember, house selling or buying demands a lot of time. It is not wrong to say that this is a full-time job, where you need to pay attention to every little detail. Moreover, those who are new in the real estate market tend to make several mistakes. Not because they don’t have enough knowledge but because they don’t have enough experience.

Written by
Rex Baker