Updated on June 15, 2021
The Dangers of Using a Realtor When Selling a Home
Selling Houses for a Living is a real business, and no one in the real estate business talks about it. Most real estate business people shy away from real estate-related issues because they think that discussing them will make them look bad. The reality is that everyone has to do some work, and if you can’t work, you can’t make a living. You have to be willing to work hard and be good at it. This separates the professionals from the amateurs and the successful Realtor from the unsuccessful agent.
Using a Realtor, Numbers Do Lie: It is fun to hear that, right? But then again, unless of course your Realtor is netting you more money than you could on your own, then what is the big deal? You would be asking the same of the people who use realtors to market their homes. If they are not netting you more money, why are you using them? If you feel that you are being taken advantage of by your realtor, then take your business elsewhere.
You Must Use a Realtor With a Specific Type of Property: A realtor who only handles residential properties is not your cup of tea. Realtors who work primarily with foreclosure properties, bank foreclosures, and short sales are the type of Realtors who you want on your side. They have the expertise at finding great buyers for your home. They also have the inside track at how much the property is worth. A realtor like this is invaluable when you are ready to sell. They can act as your buyer’s representative, negotiate the best deal, and close the deal quickly.
They Are Good at Reverse Prospecting: Realtors who have experience working in both the foreclosure and short sale arenas are very valuable to home buyers. They have the knowledge of where the desirable properties are located. Because they have seen all types of homes over the years, they know how many sellers are willing to pay. They can also make the closing process smooth for both the seller and the home buyer. A good realtor is an invaluable asset to real estate sellers.
They Don’t Collect a Realtor Commission: A fee for services is not a commission. A real estate agent is paid a flat fee for their services. Whether they have a flat fee or an hourly rate depends on the specific contract. Usually the realtor who is paid a commission collects a bigger percentage of the sale price than someone who collects a flat fee.
They Won’t Tell You About Special Buyer Benefits: You won’t hear a salesperson at your agency talking about buyer incentives such as first time down payment and trade-in value. These incentives can be quite substantial. The realtor keeps this information private under his or her own business name. They don’t want the buyer to know this information. This is just another reason why you should have a professional, experienced agent representing you.
They Try to Sell You On Everything But the Commission: A realtor should be well versed in everything that is involved with selling a home. They should be able to answer all of your questions regarding purchase/selling contracts, inspections, financing, escrow, inspections, warranty protection, and even taxes. A realtor’s list of knowledge should not include everything that the listing agent thinks you need to know. The realtor’s list is designed to sell you on the commission, not the home.
The above-mentioned points are just a few of the many that a seller should look out for when dealing with a real estate agent. If you are looking to sell your home, you should leave the realtor’s job to the experts. This will save you time, energy, and money. Sellers who use realtors in their closing are twice as likely to close a house quickly and at a higher selling price. They will also save time trying to figure out the details of selling a house.