Having a realtor has certain advantages but that does not mean they always have your best interests at heart. Here are a few factors that you should keep in mind when dealing with realtors.
1. Qualifications vary
Authorized real estate agents are not as skilled as their pay scale might lead you to believe.
Sometimes all you need to get an agent license is a three-unit college course and a pass mark consisting of a three-hour test on multiple-choice questions.
2. They might not show you all the ads
Sometimes realtors only show ads that pay the highest commission.
Make sure your agent shows you all the ads, those who pay 3% and those who pay 2.5%.
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3. They are strategic
Real estate agents sometimes delay placing a house on the inter-agency service system.
When they do, they can show them to their customers first and potentially garner both commissions, that of the seller and that of the buyer.
4. Open houses are not a great way to sell homes
Open houses are a great way for agents to hook new customers, but not necessarily the best way to sell your home.
Agents often add very little detail in ads when they take care of your home. They want as many people as possible to call.
Even if your home is not suitable for real estate hunters, the agent now has their names as potential clients.
5. Agents do not always grow the highest price
Of course, they work for the commission, but sometimes a quick and easy sale for $ 190,000 is better than waiting to get $ 200,000.
For you, this makes a big difference in money, but at a commission of 3%, it is only a few hundred dollars for the agent.
6. You can withdraw from the case
Although this is rare, some sellers change their minds after receiving offers from their homes.
If the offer is equal to or better than the asking price, the agent can claim that you still pay the commission, as the buyer has complied with the terms of the contract.
However, there are other conditions that still have to be met, such as inspections, assessments and obtaining funding. You can use them as a reason to withdraw from the case.
Although you can sell or buy a house on your own, it is difficult, and most of us choose to use the services of real estate agents. While these benefits can be very useful in finding the right buyer or locating the perfect home, you must remember that they are in the game to earn a commission.