1. Usually, an open house is merely a way for the broker to make contacts and socialize with other industry professionals, which may or may not be there to help sell your home. A study by the National Association of Realtors found that the success rate is a mere two to four percent. The broker will meet and greet clients while showing off your home, but may not necessarily use those clients to buy your home.
2. Many times, when a broker tells you that his fees are fixed, he or she is lying. A broker's fees can always be negotiable, and when a broker thinks he or she may lose a client, price negotiations are introduced by them. Understand that the broker is working for the home owner. The owner should always try to negotiate a better price for the fees they will incur using the real estate broker.
3. Although a real estate broker is legally obligated to let you know about all offers that come through for your home, most do not always tell the owners. Sometimes, the broker may think that an offer is insultingly low, but many times, these brokers merely think that the offer is too low for his or her standards. They decide that they want to hold out for a bigger commission, regardless of whether the offer may help the home owner liquidate the home.
4. These brokers are not obligated to to keep their mouth shut for you. A real estate broker is going to act in way that will be most lucrative to himself and his office. He or she will not always be honest, they will hide facts that may allow a buyer or seller to negotiate a better price so that they can collect as large a commission as possible. Know that most brokers cannot be trusted completely.
5. Many times, brokers forget who they are working for, and they will try to manipulate both sides of the deal in order to create a large commission, no matter whether the buyer or seller received a fair deal.
6. Most real estate brokers say that they know how to zone a property in order to make it more attractive. Real estate brokers need no expertise in zoning, and they usually know nothing about the laws regarding zoning. You must always take the broker's recommendations about zoning with a grain of salt because it usually just an opinion.
7. Brokers will lie about inspections and bribe inspectors to make sure a deal does not die. It is safer to hire your own inspectors separate from the broker, because many times when a broker hires an inspector, the two are in cahoots, and real information may never come to light so that a deal goes through.
8. Your broker is not a lawyer. Your broker does not know the law, if he did, he would be a lawyer.
9. His website is only for decoration, and it is usually a dead end. Many brokers simply leave up old listings on their site to bait potential clients.
10. Usually, most of the work that a real estate broker does can be done by the home owner. A owner who wishes to sell a home does not have to have a broker to make the sale. The broker will simply connect the seller to other agents who have clients. The clients may or may not be interested. If the home owner thinks he knows how to seek out prospective audience of potential buyers, it is a good idea to market the home independently, through a marketing agency. Have potential buyers call you directly.
Gerard Hagan - Edmonton Real Estate Blog
This post was made using the Auto Blogging Software from WebMagnates.org This line will not appear when posts are made after activating the software to full version.
0 comments:
Post a Comment