6 home sale secrets your real estate agent isn’t telling you
But in all this talking, brokers are very careful to let you know exactly what they want you to know and nothing further. And this hidden information starts revealing itself later on after the deal is done and the contract is over.
To make sure you don’t make the wrong decision, here are 5 things you should know
1. Staging is an underhanded practice that hasn’t remained a secret anymore
Instead, it has actually become a profession by itself. Staging is the basically making the home look better and more attractive so that the buyer is more likely to make the purchase. It is glorifying the home.
Using smaller furniture to give the illusion of spaciousness, playing some slow music while showing a buyer around the house to show a “cozy” setting, etc. Don’t be fooled by this. Imagine the home completely stripped off of all furniture and appliances and see how it fits your requirements.
2. Commissions are negotiable
Nobody likes to pay the commissions to the people whose services have been hired. And not many people know that these services are negotiable. Read your contracts properly, as the buyer or the seller and negotiate accordingly. Do not hesitate to haggle.
3. Freshly cut lawns
One of the best-selling points that brokers take advantage of is everybody’s affinity for anything “natural”. A common tactic for this is setting up plant pots on the porch of the house and having the lawn freshly mowed. Who doesn’t like the smell of freshly cut grass?
4. Seller’s brokers and Buyer’s brokers
You ask a broker to show you around a few homes. And you feel you can trust him because he talks well. But don’t always fall for this. Most of the times, the broker has been hired by the homeowners to sell off the property. The brokers are getting their commission from the homeowner and not from you. They are on the side of the homeowner who wants to make the sale. They don’t necessarily care for you or your requirements.
To avoid this, make sure you hire a Buyer’s Broker. And keep him under contract. That way you know that he stands for you and your requirements since his commission will be coming from you.
5. Improper information
When you buy a house, it doesn’t just end there. You would want to decorate according to your liking. Maybe have a garage in your lawn or a treehouse on the tree in your lawn. And you don’t think twice before getting these projects started since the broker told you “you can do anything here, all it takes is money.” And suddenly, the local Home Owner’s Association is at your doorstep with the local municipal officials.
Don’t fall for this.
Any such project that you might want to do, you must consult with the local municipal bodies and zoning boards and homeowner associations. Don’t blindly believe what the broker told you.
6. Repairing costs
You’re looking around the house and you find a couple of things not matching up to your standards – the bed and couch are old and their cushions need to be replaced. Repainting and repair of appliances is part of the deal, but the furniture is not. Fair enough. You ask the broker for an estimate on the cost of having the bed and sofa refurbished.
For the purpose of making a quick sale, a lot of brokers will lie about such costs. Their “estimate” will be much lesser than the actual cost, and when you finally go to get the job done, the actual costs hit you in the head.
To not fall prey to this, make sure you visit and check out the home at least 2-3 times before sealing the deal. The first couple of times, you find out everything about the house and make a mental note of what you would want to get done in the house. Go to the required shops and services and find out the exact price of all this. And visit the house for a third time just to make sure that you haven’t overlooked any detail before finally signing the deed.
Keep these few things in mind, and you will be able to see through your broker’s intentions while looking for a home to buy. This will save you from a lot of misery after you move in.Buying a home is a huge decision in your life. Don’t let a broker spoil it for you.
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