Real Estate agents see it all. Whether you’re a buyer, seller or both, here are six things real estate agents wish you knew.
1. Price to sell it quickly – The longer the house is on the market, the less likely you are to get fair value. You really want to position yourself to be the one who sells, not the one who languishes.
2. The preapproval letter is just the beginning – Never get new loans or start using credit cards more heavily until after you’ve actually closed on your home. Retain your frugality until you have a sense of how homeownership affects your finances.
3. Selling could take lots of time – A smart seller allows four to six months to sell. That’s if you have a home that is priced correctly in a good market with one solid offer that makes it to the closing table.
4. Not all “buyers” are able to buy – Serious buyers are preapproved. That means they’ve already applied for the loan, the bank has verified their financial information and it promises to loan a specific amount at a specific interest rate.
5. Yes, it has to smell good – A mess leaves an impression that’s “hard for the buyer to overcome”. The home should be clean and smelling good. The lights should be left on to welcome the guests. The temperature should be heated or cool for comfort. Snacks and drinks are a nice touch. The impression you want to have is- warm, inviting, and comfortable.
6. Agents aren’t rich – Unless your agent is handling both sides of the transaction, figure he/she is roughly getting one quarter of the commission. The idea that agents are getting all or even half of the commission is one of the biggest misconceptions. There are many fees that a seller or buyer may not know about.
