If you are planning to hire a real estate agent, there are certain things that they do not want you to know. Some of these are discussed below.
You Can Sell Your House Without Hiring an Agent
It is possible for you as a homeowner to sell your house yourself and avoid the commission that you get to pay a real estate agent upon successful sale of a house. You can do this by utilizing the “for sale by owner” listing (FSBO) on multiple listing services (MLS) to get your house in front of those who really need to buy. Although, it can take a long time before the house gets sold, most agents would not want you to know this fact. In this process, make sure you are not underpricing or over pricing your house as you may be leaving money on the table when you underprice or scare potential buyers away when you over price.
Commissions are Negotiable
The standard commission charged by real estate agents on a successful home sale is 6%, but it is very possible to have this reduced especially if your house is higher priced or might be easier to sell. Before signing a contract with a real estate agent, make sure you have a discussion about the commission payable, but don’t go too low so that the agents work hard to have the house sold. More details.
Small Agencies are Equally Competent
Small real estate agents might not have the type of brand recognition and advertising budgets as big real estate agents but that does not make them less competent. This is so because the internet has created a level playing for both small and big real estate agencies as they can both list on major listing services (MLS). Apart from this, small real estate agencies are usually willing to lower their commission.
Most Agents List homes at a Price Where The Property Will Not Sell
In fact, over 70% of homes listed today are listed overpriced; meaning that they require one or more price reductions before they sell. You may be saying okay so they priced it a little too high no big deal I can always come down but here’s the shocking truth overpriced listings actually end up selling for less because they sit on the market for far too long. After weeks and weeks of sitting stagnant on the market, what is wrong with that house syndrome kicks in. Statistics say that overpriced listings sold for an average of only 87% of the original asking price and over 120 days on the market. Homes that are priced right from the beginning sell for over 97% of list price and with an average of only 45 days on the market.
There is no doubting the fact that real estate agents have secrets that they do not want you to know but it doesn’t mean that they are all bad. It is always good to conduct a proper research when hiring a real estate agent. Click here for more information: https://www.referz.com/search-top-real-estate-agents/