Ten Things Real Estate Agents Won’t Tell to their Clients

There are secrets that some real estate agents hide to their clients in order to take advantage and cash in from a person’s lack of knowledge on the real estate and property sector. With an uncertain economy, many Aussies are unsure of buying or selling a home. Property brokers look for ways to convince people to buy a house or prime real estate property even if it means to hide important information to them. If you don’t want to be shortchanged, do an extensive research on the prospective property you want to buy at a real estate search portal.

Let’s face it, some brokers and agents lie in order to earn big bucks. Don’t everything what they say face value, verify the information through careful research and getting timely advice from family and friends. Learn and understand the biggest secrets that real estate agents in Sydney or Melbourne won’t tell you. Once you know their game plan, there is no way that they can fool you to buy a substandard suburban home that cost more than a typical Australian home.

1. Find a Buyer in Open House Party

When you hire a real estate broker, the first thing in the agenda is hosting an open house party in order to find a prospective buyer. It is believed that through these setting, people can check the house casually and make a decision if they are going to buy it or not. Unfortunately, the success rate for this set-up is only 2% and you are only helping the broker gain more contacts than you finding a buyer. At the end of the day, you are on the losing end.

2. Negotiable Fees

In a cutthroat industry, there are always hidden fees when it comes to these types of business transactions. Think about bonuses for selling a property, real estate agents dive into that. A real estate broker may offer different rates depending upon the circumstances.

3. Only Professional Brokers Can Sell Homes

Your real estate agent may say that only professionals like him/her can sell your home. They always say that the real estate and property business is quite complicated. The truth is that most homeowners are generally successful when they sell their own homes. If properly priced and advertised, a house can sell itself to potential buyers.

4. New home for a dilapidated one

A new home does not have to mean it is a perfect place to live in right away. Be a cautious consumer by getting a home inspector to check possible structural defects that may become a personal hazard for you and your family. Unfortunately, home inspectors only check for visual defects so you may have to consider getting help from an architect or engineer just to make sure you sorted out everything before you buy it.

5. Termite infestation

In real estate broker training, wannabe real estate agents were trained to be honest and transparent to their clients with regards to the houses they will be selling. Consumer protection is paramount. However, some agents hide certain structural defects and imperfections in order to make a sale. You may not notice that your wooden country home that you just bought is infested with termites and your agent simply did not informed you about this structural issue.

6. Legalese contracts

Some brokers push the envelope too far by drafting “Agreement for Sale” and other real estate contracts that use legalese terms that places the client into a disadvantage. They force the consumer into an uncomfortable position wherein there is no room for negotiations.

7. Getting into the Web

One of the most important real estate tips for agents is to have a well-designed home page to attract more people. That is why most brokers go to the web to find more buyers and sell more houses. Most sellers believe that getting a broker with a website can help their cause. However, some brokers have better sites than others do. It’s a no brainer for buyers and clients.

8. Zoning issues

Some real estate agents act in such a way that they know a lot about residential zoning. They suggest clients to remove trees or clear a space for a swimming pool. Unfortunately, some areas have their own zoning ordinances and local authorities may force the resident to follow the law or face the legal consequences.

9. Bad housing location

It is unfortunate for homeowners to have a home situated near an earthquake fault-line or reclaimed land. What makes it worse is that some home insurance don’t pay for homes built on known disaster-prone areas.

10. Substandard work

Buyers should know what they are actually paying for. Real estate careers of brokers and agents should not be built upon selling substandard and dilapidated homes.

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