Buying or selling a house is not a mean feat altogether. Moreover, a real estate agent can either make it a success or break it, therefore, becoming your worst nightmare. Just like any other field, real estate is a washed with professionals, who undertake their work with utmost precision and slow ones who want to take your money and move to the next available and unsuspecting clientele.
The Following Guideline Will Help You Through The Process.
- They Sometimes Work For Both Sides
Real estate agents in some states are allowed by the law to represent both the buyer and seller at the same time. This is referred to as dual agency. Although it can be beneficial at times, by speeding up things, as the buyer and seller are communicating with the same agent, it can also lead to severe issues, especially in the area of interest between the buyer and seller. This is possible because these two usually do not share the same goals and interests.
- They Do Not Know What Your House Is Worth
To bring you up to speed on the price, agents usually look at recent sales of homes that are similar to yours, then render their advice basing it on experience, as to how much your home could be worth. However, as a seller, this alone is not enough to determine the value of your home. You might also want to explore other options to be sure that you do not fall under or over quote the value.
- Their Commission Is Negotiable
Agents will always tell you to accept their commission from sales, which is usually 6%, without any demur. This should not still be the case. This is so because, it is within your rights as a seller to negotiate for a fairer commission, which importantly, should have been discussed way before you even, append your signature on paper. When in the negotiation process, it is vital for you to get the concept that listing and buyer’s agents frequently share equally the spoils from the commission. They may each also pay a certain amount to their brokerage firms.
- Their Service Providers Are Not Always Best
You should still tread with extreme caution when being referred by your agent to a home inspector, real estate attorney, Title Company or any other service provider. They may not translate into affordable options that you were seeking, and this could be fuelled by the fact that your agent may be seeking a commission from the same referral.
Choose Your Real Estate Agent Carefully
To take charge, follow these simple steps.
Interview as many real estate agents as possible; it is essential to ask them how they will get you the best deal and if possible, as for past records of accomplishment or if the commission is negotiable. You can also find further tips on tips for choosing the right real estate agent.
Hire for precisely what you need; to avoid headaches, you should only hire an agent per your needs, one who is capable of working within the stipulated period.
Get a real estate attorney involved; to help review the agreements and contracts at hand. An attorney will also guide you through the whole process.