10 Things Your Real Estate Agent Won't Mention

Are you thinking about buying or selling a house? Sometimes the process can get complicated and stressful. It might be a good idea to get a real estate agent. He'll help guide you throughout the entire process.

Although a real estate agent can be helpful, there are certain things that most agents will never tell you. You should know this information before you even determine who should be your real estate agent. This information will help you ask the right questions. Here are 10 things your real estate agent probably won't mention.

1. You Could Do This Yourself

Fees to real estate agents can get very expensive. They can eat away all the equity you built up in your house. Many owners are now selling their homes themselves. This can save you thousands of dollars, which you can use in paying for your new house.

Information on selling your home can be found at your local library or on the internet. You have the ability to advertise your house in many of the ways a real estate agent could. You can print signs, place ads in the newspaper and hold your own open house. In addition, you'll have greater flexibility on price during negotiations if there's no real estate commission to pay. Balance these options against the services an agent provides when deciding.

2. I Don't Care If You Buy a House at the Lowest Price Possible

If you're buying a house, you want to purchase it at the lowest price possible. However, fees to real estate agents are based on a percentage of the price of the house, and the seller's agent doesn't have a duty to you to sell for the lowest price. Also, the law may require an agent to keep confidential on information such as reasons for a sale, or your agent just may not have access to information that could affect the price.

3. My Fees Are Negotiable

Many real estate agents will lower their commission percentage if asked. This is especially true if the agent believes he'll be able to sell your house quickly. You may also get a discount if the agent will be helping you to both sell and buy a house.
4. Your Open House Is Really Used to Help Me Gain other Clients

Open houses have a very low success rate. However, real estate agents may use them to meet other people looking to buy and sell a house. The open house may benefit them, and not necessarily you.

5. I'll Always Downplay Findings by the Home Inspector

Most people hire an inspector to make sure the house they're buying is in good shape. Inspectors will usually find at least a few things wrong with every house. Real estate agents may downplay the findings to make sure the deal doesn't fall apart. They may not care if you have problems after they receive their money. If the inspection turns up problems, you need to take the next steps to find out the degree of the problem and get repair estimates so you have reliable information as you negotiate a solution.

6. You're Buying a House in a Bad Area

Real estate agents usually know the areas that have high crime rates and poorly rated schools. However, they may not want or be legally allowed to tell you certain information about the neighborhood. You'll need to investigate on your own.

7. You're Going to Have Trouble Selling Your House

Many real estate agents will tell sellers what they want to hear in order to get them to sign a contract. However, not all houses will sell easily. An agent may not tell you all the things wrong with your house before you sign a contract if he thinks you'll go to another agent.

8. I Don't Have a Good Reputation with other Real Estate Agents

The real estate agent you choose will have to work and negotiate with other real estate agents. Having a bad reputation may interfere with the process. You don't want other agents telling their clients they may want to stay away from you based on your agent.

9. I Don't Know Anything about Zoning

Zoning laws restrict the use of property. They'll prevent you from doing many things with your land. Many real estate agents don't know the zoning laws for the houses they show you. They might suggest great things you could do with specific property if you bought it. In the end, it's up to you to confirm you plans are within the zoning law.

10. I Just Want to Be Paid

Real estate agents only get paid at the end of the entire process. They have an incentive to appease both the buyer and the seller so that the deal goes through. However, be aware of what an agent's duties are to you when representing you as a buyer's or seller's agent.

From: www.LAWYERS.com
http://real-estate.lawyers.com/residential-real-estate/10-Things-Your-Re...