You have finally decided to buy a new home or to sell your current one. The first step was the decision-making, and the next is finding a real estate agent. Of course, it is possible to find and buy or sell a home on your own, that is, it is possible if you do not mind losing a lot of your time, energy, and money while doing so. In today’s day and age, if you do not have experience in real estate and if you do not understand the terminology and the market, finding your dream home or selling the current one all by yourself might easily turn into a nightmare.
Thus, save yourself from that trouble and find a reliable (and a local) real estate agent. Only a professional of this kind can help you find the home of your dreams and a home that suits your budget and all of your needs, or help you sell the current home easily and for the best possible price.
However, you should be careful. There are some things your real estate agent won’t tell you, for one reason or another. But, do not worry – we are here to tell you what to keep an eye on when hiring an agent and when buying or selling a home with that agent. So, if this is something that interests you, here are some things you will not hear from your real estate agent.
‘I am Using Your Home to Promote Myself’
As mentioned before, everybody should use the services of a real estate agent when buying or selling a home. And, they do! Because of that, the real estate industry is thriving more than ever. And, even though we have many professional and reliable agents who are willing to do all the hard work coming on their way, we also have some that are just slacking.
Those that are slacking only see themselves when trying to sell your home. That is, they use your property and you to promote themselves. On their websites, they tell dazzling stories about how many properties they sold and how much their clients have earned, etc. Simply, they are promoting, advertising, and ‘selling’ themselves. In some instances that is okay – as long as they help you sell your home properly. But, in others, they are only telling lies and using you to promote themselves and their business.
‘These Are all the Available Homes in This Neighborhood’
When you want to buy a home in a certain neighborhood, what do you do? You go online and check all the available listings, right? Right! But, what your real estate agent won’t tell you is that there are many more homes out there. These homes are not on the database of local and regional properties for sale but are kept private and given only to certain real estate agents. Usually, there are a couple of agents that dominate a certain market, and they are the ones working with these homes (often called ‘pocket’ homes).
So, if you hired a real estate agent that is new and that does not have enough experience, the chances of you not being able to see these homes are very high. Thus, ask around! Ask the locals, the owners of the shops and eateries, ask even the movers from spydermoving.com – you never know who will be able to provide you with the information you need.
‘My Commission Is Not Set in Stone!’
There are no more ‘fake’ real estate agents. Nowadays, real estate agents cannot work without a license. And, when they attend schools or courses for getting that license, one of the things they learn is how to price their services. In the majority of cases, that is always the same – a 6% fee (that is split between the buyer and seller agents). This is a standard for a full-service listing.
But, another thing that your real estate won’t tell you is that that commission is not set in stone. It is up to them to change the fee so that it suits their liking. Some may raise it, some may lower it, some may even avoid the dual-agency and get the entire commission. The point is that commissions are negotiable! If you want to know your agent will charge you, ask for a contract – everything is written there.
‘Another Agent Can Make You More Money’
And, without a doubt, this is one of the things you will never hear your real estate
agent say. In an ideal world, your real estate agent should price your home properly (so that it can be sold quickly and easily) and help you earn some money – after all, that is why you asked for their services. But, the truth is that not all agents play the real estate game in a fair way. Some will overprice your home and leave it sitting on the market for too long. Others will undercut the price so that they can get your commission and move on to the next property as soon as possible.
The best way to ensure you find a good agent is, again, to do a lot of research before hiring. Check their references, ask them to give you the detailed marketing plan, ask whether you need to hire a home inspector so that you can know what you may need to invest in, etc. Do not be afraid to ask questions and to demand answers. Take some time to do this and you will end up with an agent who can help you not only sell your home quickly but also earn you a lot more money than you thought.
‘I Don’t Know Anything About This Neighborhood’
When you are buying a home you are also buying a neighborhood that home is in. Amenities around the home are just as important as those inside the home. All real estate agents know this. It is in their job description to get you acquainted with the neighborhood you are interested in. This includes things such as schools, safety, public transportation, parks, restaurants, coffee shops, banks, hospitals, etc. Your agent must tell you all the good and all the bad things about the neighborhood you want to move in – that is the thing that will make or break your decision on whether you should buy a certain property or not.
Unfortunately, some agents do not know anything about the neighborhood you are interested in. To answer your questions, they may lie to you accidentally, or tell you what you want to hear on purpose. Thus, always do your own research when planning to buy a house. Inspect everything – from common roof damages on the home you plan on buying to the neighbors you plan on living near.
Meta Description: Wondering what are some of the things your real estate agent won’t tell you? Wonder no more! Here are some of the most common things agents do not want to talk about.