5 Things Your Realtor Will Not Tell You When Selling Your House

When selling your house, the instinctive and first point of action is to get a realtor. This isn’t surprising as a realtor is supposed to help you get the best deal possible. In an ideal world, your realtor should be your confidant and advocate to guide you through this critical process. However, your realtor is just a sales person, who is paid commission for the house he sells. Thus, whether you are looking to sell your house or buy one, there are some important details your realtor might not tell you.

1.The open house sign also gets more clients

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One of the approaches a realtor takes in selling your house is hosting an open house. This way, interested buyers can walk in and have a view. This approach has been proven by many to be effective.

However, an open house gets you more than a buyer. It enriches the client list of your realtor. In other words, a client who doesn’t buy your house will be a potential buyer for any other house listed by your realtor. Thus, should your property fail to appeal to the buyer, your realtor could present other houses he has on his list.

2.You might hate your neighbors

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While most realtors emphasize location in selling a house, neighbors are important as well. Therefore, when going through the home buying process, hardly will you see a realtor talk about your potential neighbors. They know you might not like what could be discover. Neighbors play an important role in determining the peace of mind you will have in your new abode.

Even if your realtor doesn’t help you, it’s recommended that you spend some time enquiring about the people living next door.

3.You can negotiate a lower commission

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On the average, 6% of every home sale price goes to the realtor as commission. This rate could vary depending on the area. While you may be aware that the commission is from the proceeds of the sale, to be split evenly between the agents, you might not know the commission rates aren’t fixed. The agents also don’t disclose this.

Thus, if you desire to sell a property, try and talk to a couple of agents. This will allow you get the range of their commission before committing to anyone. Besides, the more valuable the property, the more your bargaining power.

4.Making changes to your house might increase its worth

Your realtor will hardly tell you that making some changes to your house could give you awesome deals. While your broker is supposed to advice you on creative tips that can increase the worth of your property, some might not bother. Thus, simple steps such as painting the house or clearing the dead bush in the front yard or installing better shower heads are things that could make your house more marketable are often overlooked.

Most agents work with the mentality that it’s better for the house to be off the market at a much lesser price than risk offending clients with constructive ideas. Thus, in your deals with the realtor, try and initiate this conversation if he doesn’t, and be open to suggestions. The fact is, even if your house is in a terrific shape, there are little things that can give it a face lift.

5.Everything on the contract is negotiable

Besides the commission, there are other parts of the seller’s contract open for negotiation. Ensure you check the length of the listing agreement. Although, it’s typically 6 months, pushing for 90 days is recommended. This will enable you get out of the contract on time if you’re not satisfied with the agent’s progress.

Transaction fees can also be adjusted. It’s not uncommon for realtors to add the broker’s fee charges, an average of $400 to each seller’s contract. This increases the bottom line. Ensure you inquire about hidden fees. While a good broker will inform you of the fees upfront, others might just include them in the contract, where it will be difficult for you to notice.

While this isn’t supposed to picture realtors as bad, you should be careful in selecting the one to work with. Go for one who is experienced with good recommendations as well. With this, you can be rest assured that selling your property will give you the best deal.