Real Estate Brokers Do Not Disclose Everything to You

If you found a new real estate broker who will help you sell your precious home and now you start to trust them about almost everything regarding your sell, well think again. They do not tell you everything they should. Home brokers tend to keep some details from their clients. How could they earn a commission if you know everything?

Here are some things you must know that your real estate broker keeps from you:

• An open house is a SOCIAL gathering for a real estate broker.

A broker would usually suggest their client to conduct an open house so that potential buyers can check out your home. “Sure!”, you would say if this would sell your home, right? But according to the National Association of Realtors, open house’s success rate is only at 2 percent.

So why waste two hours of you and your real estate broker’s weekend time? Because your home broker benefits from it. This gives the broker a list of potential clients. Within the 2 hours of an open house, the broker can meet other home sellers and homebuyers. An open house is more for the broker than your actual sell.

• Real estate brokers have NEGOTIABLE fees.

Many think that real estate broker fees are inflexible. But in a market as quick as the housing industry where properties must be disposed ASAP, negotiations are definitely possible.

But start by looking for the best broker fee. Then show commitment that you really want to sell your home and purchase another property under the same broker and you may get a reasonable discount. Then, if you are actually in a good neighborhood and your sell can actually stimulate the flow of potential customers, then you can definitely avail a better deal.

• Real estate brokers can neglect to tell you about undesirable home features like pests and flood damage.

If you trust your home broker to have a home inspector check the property before you close the deal, well they do. But are you sure there is no connivance going on? Real estate brokers have a chosen listing of home inspectors. Some of these inspectors would nod through a house just for a come back customer.

It would be better if you find inspectors not in the brokers list. You will be surer of their honesty.

• Their websites can fool you.

Around 50 percent of home buyers do their search through the Internet. And home brokers know that. So, do not be fooled by fancy realtor websites.

If you see posting of houses that are actually out of the market, that site is not good. They post these sold homes because it attracts website views. But this really means that the broker does not have a sufficient inventory in his roster.

Make sure the broker keeps himself high on search engines. He must also have good community information in his website that may include maps, community amenities, schools, hospitals, etc.

This entry was posted on Tuesday, July 7th, 2009 at 2:41 pm and is filed under Real Estate Brokers. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.