When we're about to sell our property, we turn to real estate agents for finding buyers. They facilitate the process of selling a property for us, but there are also several things that they try to hide from us. For example, they do not tell the benefits that they get by selling our property. Of course, they take their fees from us, but do you know that they also benefit from our property as well? In this article we'll have a look on the things that real estate agents often try to hide from us.
- Your open house is a party for him: When you hire a real estate agent for selling your property, he'll suggest you to host a weekly open house at first so interested buyers can check out your property on weekends. However, they do not tell you how your open house benefits them. Just think about it – each weekend they spend a couple of hours on your property. Are they really that much committed to your transaction? Nope. They're increasing their database of clients. Every person who walks into the property is either interested in purchasing it or will be interested in checking out what's inside. So they're the perfect picks for a broker who's looking to increase his client base.
- You did not get any offer? In reality, you might've got some: Legally all the real estate agents are bound to tell the property owner about each offer that comes in. However, some do not do the same. Sometimes they hide the details of an offer because they think that the offer was often low for you while sometimes they hide it because they will not get enough commission from it (means when it's often low for them, not you). So you must tell your broker clearly that you want to be notified of all offers.
- Their websites are outdated: According to National Association of Realtors, 50% of people looking for property brows the web for it. That's why most real estate agents have gone online in today's digital era. But information presented on the websites of these agents is not accurate in most cases. For example, most of them fail in keeping the site updated with the pace of transactions that are happening. As a result, often properties that have been sold out already remain listed on their websites for several months. But they will not accept it before you. You'll have to look beyond a well-designed webpage for identifying this presentation of wrong information!