Selling or Buying a home is a big and major step in your life to take, it could be the most expensive thing you will buy/sell since you don’t do it every day so you don’t have a good experience in that, that’s why you should hire a real estate agent to help during a buying or a selling process.
Every real estate broker looks so nice and friendly, it is part of his job but this is like a coin, with two faces it may be so good that you feel so comfortable with the person you are working with or it may be used in a harmful way, so you have to be aware and keep your eyes open.
1. Choose the right agent for you
According to National Association of Realtors (NAR), there are 1,3 Million agents in the United States, and of course, their skill is not the same, so make sure you interview your broker / before you start. You have to interview as much as possible until you reach the best one, most people are not happy with their broker after they finish the deal, the reason? 74% of people choose the first agent they interview which is a huge mistake. Why you should interview more than one agent? As mentioned before all of them are sweet-talking and friendly and they make all things look very easy even it is not that.
Another mistake people do, they always think that the bigger the agency the better it is, well that’s not true in many cases small agency can be much better, the bigger agency has a good reputation and recognition with huge marketing budgets, they also hard to negotiate when it comes to the commission. You will receive better customer service from a small agency more than the big agency, it has a little personal touch and they care about you more than the big agency. In the end, every pick has its own pros and cons and you decide what the best is for you. Ask your questions. Do not be shy. Search as could as possible.
The last thing to consider when you sell the house is the pricing strategy; many agents list the homes too high and they hope that someone will come and buy it at the high price, this doesn’t happen not only you lose the chance to sell the home at its own value but also you sell it at a lower price because the house was listed for a long time and people will start to ask “What is wrong with that house?” and you are the only one who loses money.
2. You can sell your house without agent
This is the most important secret that they will never tell you, although selling without an agent is a lot harder as you have to pay for listing in the MLS system, Making your house looks good and take care of the legal documents but also it means more money for you and if the buyer is buying the house with an agent you have to pay 3% commissions for his agent. You can sell your home to Louisville Cash Real Estate without paying commissions or any fees, no need to repairs or anything; we will pay you in cash and closes the deal in 1-2 Weeks!
3. Agent’s Commissions are negotiable
When a home is sold, commission fees are paid to the seller’s agent with 3% and to the buyer’s agent with 3%. The 6% commissions may seem standard for the industry and non-negotiable but you can negotiate them especially when the home price is high if you pay a $ 2 Million house at a 3% commission $120,000 fees will be paid but at 2.5% commission, you will pay only $100,000. Agents tend to negotiate if the price is high but it is harder if you pay a low-cost house but still can be negotiable and you can pay less for the commission fees. Louisville Cash Real Estate buys your house without any commission fees. Sell your house now!
4. Agent do not want you to buy a low price house!
There are always multiple interests when it comes to selling a house, the buyer wants the lower price and higher quality, the seller wants only money, The agents want only higher commissions, so keep that in mind when you buying a house. The agent doesn’t want you to buy a low priced house because that would mean a lower commission and a lower profit for him, he will convince you that the $300,000 house is so bad compared to the $350,000 house. Because from his perspective he will gain only $9,000 from the 300K house but he will gain a $10,500 from the 350K house. Keep that in mind that your agent will make you a higher costly house even if it doesn’t serve you as much as the lower-cost home and why all that? Commissions.
5. Agents always have their inspector
Whenever you are going to buy a house, you must arrange for an inspection. Your agent probably will recommend someone to do the job. Many inspectors will ignore many things because that means the sale is going to disrupt the deal, so you should have your inspector if you do not know one just ask your friends or search for the ones who have a very good reputation.
6. Agents benefit from open house more than you do
“Open Houses is a great way to make your house sell faster”-Said by every agent ever, well that is not true at all only 9% of home buyers purchased their house according to NAR, It makes, It’s exhausting as people visit your house all the time, you can spend all the only cleaning the house and at the end, it doesn’t grab home buyers, so why people still using it? Actually, it benefits the agent more than you as he can speak with visitors take their number, and helping them in finding their new home.
7. Read the contract well
Keep your eyes open when you read the contract, try to read every detail in the contract. Find out who is paying the agent’s commissions and if they are the normal 3% may it be higher or lower, also there are fees like administrative fees, always remember you can negotiate, hiring a lawyer is a very wise thing to do, it will cost little fees but it will help you a lot. You do not buy a house every day and it may the biggest thing you are going to buy.
Real Estate Agents maybe look like they are bad guys or evil, well it is not, maybe you think that they do a little job and collecting big fees, it is not true they do good work and help you to sell/buy home faster they know the administrative problems and they can help you, they make the client see tons of houses before the home buyer decide to buy a one. There are a lot of things that you can’t see, contacting the other agents to tell them about your property, they guide the home-buyer to the most suitable neighborhoods at the end most of the agents are working with the firm and the firm takes from his 3% commissions too!