{"id":413,"date":"2016-11-07T16:46:00","date_gmt":"2016-11-07T16:46:00","guid":{"rendered":"http:\/\/dev.gahomesdigest.com\/blog\/10-things-your-real-estate-agent-doesnt-want-you-to-know.html"},"modified":"2023-04-28T14:38:48","modified_gmt":"2023-04-28T14:38:48","slug":"10-things-your-real-estate-agent-doesnt-want-you-to-know","status":"publish","type":"post","link":"https:\/\/search4.homes\/10-things-your-real-estate-agent-doesnt-want-you-to-know\/","title":{"rendered":"10 Things Your Real Estate Agent Doesn\u0092t Want You To Know"},"content":{"rendered":"
If you look up a statistics on what consumers want when it comes to real estate agents it\u0092s almost universally the same. It\u0092s honesty! Unfortunately there\u0092s quite a few things that real estate agents don\u0092t want you to know and likely won\u0092t tell you. Here\u0092s 10 Things Your Real Estate Agent Doesn\u0092t Want You To Know.<\/strong> First let\u0092s cover all the ones that you\u0092ve likely seen all over the internet.<\/p>\n Back to our regularly scheduled program.<\/p>\n Most home sellers don\u0092t want to take the time to do the repairs or updates to their home. This is a huge problem. Since most weak agents just do whatever they can to get a sign in the yard, they won\u0092t fight you on this. However, if you were to ask those same agents about their opinion on repairs vs allowances they\u0092d tell you. Home buyer\u0092s often over estimate repairs and updating a home by as much as 50%. A $3,500 carpet replacement is often miss-estimated by a home buyer as a generic price bracket of $5,000. In fact, buyers will do this everywhere they see something. $80 repair, oh that\u0092s $250. In addition, a home buyer will often hire an inspector. Most inspectors are so scared of lawsuits that they will spot mold in a bathroom and say, \u0093discovered mold in the grout of the bathroom\u0085 and it can kill you.\u0094<\/p>\n I know what you\u0092re thinking. You\u0092re likely thinking that this an anti-fsbo rant. It\u0092s simply an anti-price-it-yourself rant. The internet has turned homes into highly emotional, high priced commodities. You see the average internet buyer looks at homes for 6 months before deciding to engage in the process. That could be more time than your current Realtor\u0092s been licensed! It\u0092s certainly longer than you took to price your home. The point is that the buyer knows what they like and what they don\u0092t and by the time your home hits the market they think they know what your home should be priced at (and they likely know more than your agent in that regard) and if it\u0092s not in their zone, then you can forget them even visiting.<\/p>\n <\/p>\n What\u0092s their zone? It\u0092s called price brackets. You see when lenders (and mortgage calculators) give buyer\u0092s numbers to estimate their purchases off of, they round. It\u0092s the same function your brain does when it sees those sales with .99 on the end of it. So for example if your home is listed at $335,000 then you\u0092re competing with homes from $325K to $350K. So you\u0092re either leaving money on the table or you\u0092re the value priced option at this price. Unfortunately, for a night out at Chili\u0092s the buyer can just stretch to $350K\u0085 You lose.<\/p>\n Here\u0092s the kicker. If your agent is like most, they want listings. It\u0092s like having a product on the shelf for them. No store owners wants barren shelves. So most agents will take a listing hoping and praying that your home will sell or hope that you\u0092ll come to realize your price for your home is a bit high. This is so common that many of the top agents in any given area often take over-priced listings and then have celebrations and awards for the staff salesperson that can convince a seller to lower their price. That\u0092s right there are price-reduction parties.<\/p>\n Sure there are people who sell every year on their own and hat\u0092s off to them. They hopefully got the most money for their home, avoided law suits and stress and managed to save the commission. Unfortunately, the stats are against them. Then again, the Cubs won a world series. The reason that most FSBOs don\u0092t sell and when they do they get less is a simple exposure problem. To find a home that is for sale by owner, one has to be looking for a FSBO. Mostly that\u0092s first time home buyers, investors and other folks hoping to save the commission. What would be nice is if there was this tool that let 80%+ of the buyer\u0092s that had an agent know about the home for sale AND posted the home to all the outlets at the same time to cover 99.9% of the market. That\u0092s the MLS.<\/p>\n In many metro areas where there are a large number of counties and \u0093sprawl\u0094 there are multiple MLSs. As you can imagine there\u0092s a demographic that goes with those MLSs. So what happens when these MLSs overlap\u0085 well thanks to technology you can really tell who\u0092s with it and who\u0092s not.<\/p>\n\n
1. Updates Are Worth More Than Allowances<\/h2>\n
2. Your Pricing Is Wrong – The internet killed the FSBO<\/h2>\n
3. Your Pricing Is Still Wrong<\/h2>\n
4. The MLS Is The Key To The Listing Agent\u0092s Power<\/h2>\n
5. Not All MLS Are Created Equally.<\/a><\/h2>\n