When it comes to selling a home, there are two aspects that the seller typically focuses on. These aspects are getting as much money as possible on the sale and selling the house quickly. No one wants to get a low amount of money for their house, and waiting for long periods of time for a buyer can be frustrating and may even hinder the moving process if the seller is looking to move somewhere else within a specific time frame. This is why most people hire a realtor to help sell their homes faster, more efficiently and to get the most amount of money for the sale. However, there are several things that your real estate agent won’t tell you or may not know about the process of selling a home.
Avoid Certain Phrases in Your Listing
When it comes to sifting through various real estate listings on the Internet, there are obviously some key words and phrases that a realtor uses in order to hook in more potential buyers. However, just as there are words and phrases that they can use in a description to appeal to more buyers, there are also phrases and words that deter potential buyers. Some of the most prevalent ones found recently are writing “motivated seller,” “vacant,” or “good buy” into the description. Some words and phrases may seem beneficial, but they can come off as desperate, slightly deceiving or extremely generic.
You Can Negotiate the Agent’s Commission
It’s easy to see why this one would be a tip that most real estate agents would keep close to the vest. While many people may believe that a realtor’s commission is a fixed rate, it’s almost always not the case. It’s always best to shop around for a realtor with a decent default rate, but you also want one that shows willingness to have some elbow room in negotiating their commission rate.
They Commonly Avoid Constructive Criticism
Real estate agents know what buyers notice when they look at a home in person. These are things that can very easily be overlooked by the homeowner. Things like a dead bush or tree, a damaged fence, fading paint and more can all deter potential buyers, even if it’s an easily fixable issue. While your realtor may notice issues or places that could use improvement to attract potential buyers, they may avoid bringing it up to avoid possibly offending the homeowner. If they don’t bring it up, ask them. The invitation to suggestions will make the realtor more comfortable in offering constructive criticism.
Open Houses are More for the Realtor’s Benefit
Open houses are commonly touted as great ways to show off how great your house looks to potential buyers. However, open houses are really more for the realtor’s benefit than yours. Surprisingly, only about 11% of home sales are made by people who attend open houses. Most people who go to open houses are just doing it to shop around, get a good idea on what their own house should go for on the market and sometimes they’re even nosy neighbors. While an open house has little chance of hooking in a buyer, it generates a lot of word of mouth and face to face interactions with the realtor who can generate a decent amount of business for themselves. There’s also the fact that a lot of time and work goes into open houses, and there’s the risk of theft or accidental property damage.
Don’t Overlook Low Offers
While some people can give offers that are nearly insultingly low, you shouldn’t instantly avoid any offers that seem low. The housing market is one very reliant on time. While you may be holding out for a price that you may not receive, the person who made the lower offer may no longer be interested once you’ve realized that they may be your only hope in selling in a reasonable amount of time. You don’t have to give in to unreasonable offers, but be open to accepting ones that seem low.