In an ideal world the real estate agent would here serve you as the advocate, confidant or even may be a marriage counselor, guiding you through one of the biggest financial decisions of your life. But in reality he is considered to be a sales person who earns a commission based on whatever he sells. This would again mean that the brokers have an incentive for buyers to pay more, and in most of the cases would here be tempted to gloss over the details that could help them get a better deal. Given here are the seven important things you need to be aware of that a real estate agent would never tell you.
My Fee is never ever fixed: The real estate agents generally receive 6% of the fee for their services, and would include handling each and everything about the house sale, starting from advertising the listing to the actual moving. And in most of the cases the percentage is generally a split between the buyer and a seller, according to the research study being conducted by the national association of the realtor’s data. The truth here is that the commission is negotiable but the agent would never ever tell you that and you might never know unless what you ask.
A listing is easy enough to fake: It has always been easy to fake a real estate listing, but the web makes it fool proof and a good broker would help you in detecting this. So if you see a listing and the broker tells you that your home has gone into a contract or otherwise is no longer available then the listing may have been designed just to bring in the prospective buyers. So if you don’t like having your chains yanked then be wary of this broker in future dealings.
Don’t skip the final walk through: It’s your last chance in order to make sure that the repairs were done in a right manner, the home owners items have been removed, and the items that you agreed should still stay there. I have been seeing stoves, washers and dryers walk right out the door.
You are not the person I am working for: Real estate agents generally represent as the seller of the house. So if you are planning to buy one and you have been using the services of a realtor, you should be aware of that he or she is not working for you and is probably not looking for your best interest. It is easy when you get confused that a broker has been working for you just because they are providing useful services for you, such as giving information about the listing you called in response too, and coming to an open house and acting if they were there to help you. You need to know this before you begin to deal with them and understand that the agent is employed by the seller and no one else.
You would get less amount of money for the house than you would like: When people are selling out their homes they generally begin to expect to get a huge amount of money out of their sale than what their house is actually worth for. Most of the sellers refuse to accept from getting less amount of money than what they imagined they would make. Good real estate agents or atleast the ones who have been looking for the best interest in the seller would deny working in the conditions where an unrealistic price has been set for a specific property.
To conclude remember that the broker is generally considered to be a sales professional who has been working on commission basis. They are always upbeat and enthusiastic and if not you would have to fake it. Your role here is to stay grounded.
Apoorva Bharadwaj is a passionate real estate blogger and has written many useful blogs that has helped property buyers, be well informed of upcoming housing projects. She has used her years of experience in understanding the changing trends in Real Estate business and help first time buyers to choose wisely before investing in a property. She has written articles on many upcoming apartments like luxury condominiums for sale in Yeshwanthpur, luxury apartments for sale in CV Raman Nagar, luxury flats for sale in Bangalore and luxury condominium projects for sale in Bangalore.