Wouldn’t it be nice if we could just let our real estate agents decide on what listings to offer us and what kind of amenities we want in our future home? Wouldn’t it be nice if we could negotiate on our behalf and close the deal with nary a peep from us? Wouldn’t it be nice if we could just move in our new home without making the big decision that usually stresses us out? But alas, that’s not how it works.
Real estate agents are not going to offer you home listings in Taylorsville or other cities without it having some kind of benefit for them. As much as you want to trust your agents, that’s easier said than done. You cannot trust your agents 100% the same way that they cannot depend on you to heed their every advice. To better understand how the mind of a real estate agent works and how they come up with listings and guidelines, here are the five things that no agent will ever tell their clients:
You Cannot Afford Your Dream House
Do you know how hard it is for real estate agent to tell their clients that there’s no way they can afford their dream home? At the beginning of the consultation meeting, the client will tell the agent what amenities they like in the house, how many rooms they expect to have, and whether they want a two-car or three-car garage. The agent will ask about the budget, and it will take all of their power not to show it on their face. The client might think that they can afford a house with a three-car garage for less than $100,000 in one of the busiest areas of the metro.
My Commission Isn’t as Big as You Think It Is
There are many ways that an agent can gain commission from selling your house. It can be a 50-50 split between the seller’s agent and the buyer’s agent. Usually, the fee is 6% of the total cost of the property. At times, the same person acts as the agent for both the buyer and the seller. This way, the agent can give you a better deal even if they just take a 5% commission.
Your Home Isn’t as Valuable as You Thought It Is
Some homeowners put too much value on their homes. If their house has sentimental value, it doesn’t mean that a new buyer must pay for the emotions attached to it. A real estate agent sets the expectations of the seller. If they think that the price being demanded by the seller is not fair in terms of the market value of the house, then they should tell that to the client. But some agents accept listings and put the demanded price of the seller out on the market only to advise them to cut the asking price weeks after.
Another Agent Can Get a Better Offer for You
To get the listing, some agents will promise you that they can sell your house for a much higher price. But you will notice that your house will just sit on the market and there will be no offers in weeks. This is not the kind of agent you need. Instead, you need an agent who can tell you point-blank how much your house is worth on the market. You need someone with a proven track record of getting deals done at a reasonable price that is fair to you and the buyer.
When choosing a real estate agent, try to ask as many questions as you can to get a glimpse of the agent’s personality. It is important that the agent wants to get the best deal for you, and not only for themselves. Also, you might want your agent not to say yes to all your requests all the time. Agreeing to all the client’s demands is not a good sign.