Real estate agents are important for most real estate dealings and without them it is difficult to sell homes. However, the enormous demand for them has led to various strategies and gimmicks on their part. Let’s go through these tips given by Zack Childress, a real estate mentor and speaker, and learn to see through these tactics practiced by them.
Going for the best real estate agent
Some real estate agents are really popular and very rich. They have innumerable clients and big advertisements featuring their faces. We normally select such real estate agents who are big shots, but this means that we may not get their direct aid. Instead we have access only to their subordinates. These subordinates may not be that good. So, in the end we pay huge sums of money for the not so good facilities
Beware of real estate agents who try to bring down your confidence
Real estate agents often sell at a price lower than discussed with us. Why do they do this? Isn’t it a loss for them since their commission depends on the selling price of the home? Well! The answers to these are as follows
Real estate agents can sell more houses for lesser prices and end up getting the same commission that they had aimed for by selling fewer homes. So, it is not a loss for them.
They do this because the more they wait until they get the highest or the best price, the more the time the house sits in the market. In turn, the house sells very slowly. This will damage their reputation and will kill their time.
So, how do they do this? They will first fix a good price when they transact with us. But, then they will repeatedly call us and tell some reason for not able to find a buyer who can offer that price. For Example: the first time they may say like,” the buyers were not happy with the open shelved set up.” The second time they may say,” buyers want a change in the decoration” and so on. So every time, they will give a list of the inadequacies to reduce our confidence. In the meantime they also convince the buyers to buy the home for a lower price. They get their work done strategically.
The real estate agent offers to buy our home
If a real estate agent says that he will buy our home if it does not sell, then we will get a much lower price for it than expected. If the price is $290,400, then we will receive only $246000 which is lesser than 85% of the quoted price. This is beneficial for the agent as it attracts a large clientele base.
These are basic strategies applied by real estate agents. We should be cautious of these tactics and get the best real estate selling deal. Our homes are the best assets that we can buy and sell, so we should make the best out of them.