What Your Real Estate Agent Won’t Tell You

Did you know that real estate agent’s commission is, for the most part, negotiable? Yes, there are plenty of things that your real estate agent probably isn’t telling you! Reader’s Digest sought out real estate agents, brokers, and lawyers to discover the top things your agent won’t tell you, and they scored some pretty valuable information.

If you’re thinking about putting your house on the market, here’s what you should know before hiring a real estate agent:

1. Your open house helps them for than it helps you. The majority of visitors are not buyers – they’re nosy neighbors! That gives your agent an opportunity to pass out their cards and gain new clients.
2. Plug-in air fresheners are a turnoff to most people. Bake something right before a showing instead.
3. Last-minute requests to see your house are a plus, even if your house is a bit messy. Impulse visits typically mean impulse buys!
4. Don’t be offended by a low-ball offer. In this economy, you have a better chance of bringing up their offer than waiting for a new, higher offer.
5. Sometimes the more successful the agent, the less you’ll actually benefit from their experience. A well known-agent may pass you off to a junior agent after you sign the contract! So before you sign a contract, make sure all bases are covered, from who exactly will be handling phone calls, marketing, etc.
6. There may be an extra “administrative fee” on top of the standard commission to cover the brokerage’s administrative costs, so make sure you read the contract carefully! This fee can range from $250 to $1,500, so read carefully and don’t be afraid to negotiate – both the admin fee and their commission.
7. Don’t skip the final walk-through. This may seem like a no-brainer, but a lot of people end up skipping this important step, and don’t realize that repairs weren’t done properly, or that items were removed that shouldn’t have been.
8. Watch out for agents who overestimate the selling price of your house. They overestimate so that you’ll choose them over other agents with more realistic numbers, but it guarantees your house will just sit on the market.
9. Houses without furniture don’t look larger. It’s better to stage the home so buyers can get a better sense of how much furniture will fit.
10. The number one selling tip: Clear off countertops in the bathrooms and kitchen.

For more tips, pick up the April issue of Reader’s Digest!

Photo Credit: CNBC

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