You will find plenty of tips and tricks online on how to make sure that your house sale goes through and you make a profit, or how to woo the buyer into lowering the asking price.
Just like you, real estate agents also have a few tricks up their sleeves. Sometimes, these tricks are not in your favor.
Want to know what they are?
1. Commission Is Negotiable
The standard commission amount of an Orlando realtor is 6%. Usually, this is split between both agents ― your agent and the buyer’s agent. However, you can negotiate the commission if you use your agent to represent both sides. You can hire the same agent who is helping you see the house, as the agent who will help you buy your new house. The overall commission will below and you won’t have to deal with the hassle of talking to another agent and explaining your needs and wants.
2. You Can Remove the Broker From the Equation
Let’s assume that you know someone who is willing to buy your house. They approached you after you put up the “For Sale” sign and before you could go to a listing agent. The good news, you can get out of paying half the commission by BYOB-ing. Meaning ― you can bring your own buyer to the sale. You will have to inform the agency about this before signing the contract. The contract will include the name of the potential buyers that you brought to the table and if any of them buys the house, you won’t have to pay the broker’s fee.
3. Get Your Own Home Inspector
Hate to break it to you but chances are the home inspector your Orlando buyer’s agent recommended for the inspection might try to cut corners. They are looking for their best interest and usually downplay the repairs a house needs. It might be due to fear of getting blackballed on the internet, which is why they work on the agent’s words.
This is why it is better to hire your own licensed home inspector. Not only will they tell you about each and every repair but they will also recommend ways on how to fix them.
4. The Open House Is for the Client
You are all excited about hosting an open house at your Orlando real estate. You get a good turnout but only a few people contact you. This is because open houses are typically for the agent and not you. Your real estate agent uses this opportunity to hand out their card to get more business. There’s nothing wrong with this but their attention is divided. So, better choose an online listing.
5. Read the Fine Print
“Disclaimer of Promises” is a clause added in the contract by the broker. It states that there are no verbal statements from the seller or agent, which you can rely on. To make sure that you don’t get bound by any kind of clause, have a lawyer look over the contract.
Hiring a real estate agent is better than taking the FSBO route because it ensures a quicker and profitable sale. However, you still need to protect yourself when working with a selling agent or buyer’s agent. To hire a professional realtor, visit Megan Dowdy Realty. For further information, call on 407-509-9279.