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Are You A House Buyer, Or Want To Sell Your House? Grab Real Estate Tips Here!

Updated on August 27, 2011

Tips Your Real Estate Agent Won’t Tell You

Whether you are a house buyer, or you want to sell your house, these real estate tips are a great way to learn the tricks of the trade! The housing market has its pitfalls.

Remember, when you are dealing with people, they are not all scrupulous like you and me. They hold the knowledge and we all know what knowledge is... power!

We can't be specialists in all things - we are human and just don't have that capacity to know it all.

This is especially the case when it comes to buying and selling property.

It is a mind-field out there and it is here that I hope to divulge some good real estate tips that your real estate agent won't tell about.

So, listen carefully and shake off that green hue that surrounds you!


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Real Estate Tip 1 : House Selling : Take You As You Find Me

People do not take you as they find you. A messy ‘lived in’ house is an unsold one. Either that or a bargaining tool to offer less than what you are asking for your house. Do you really think that peeling paint and that doggy smell is a ‘buy me quick’ incentive?

Make sure you have your house in top condition, freshly decorated with a tidy house and garden.

A Lying Estate Agent

Courtesy of: http://www.flickr.com/photos/soylentgreen23/with/296223094/
Courtesy of: http://www.flickr.com/photos/soylentgreen23/with/296223094/

Homes For Sale

Courtesy of: http://www.flickr.com/photos/imuttoo/
Courtesy of: http://www.flickr.com/photos/imuttoo/

Real Estate Tips 2 : How Much Is My House Worth?

Don’t trust the Real Estate Agent when he says that your home is worth much less than you think or when he or she tells you that your property is the best and worth far more than the others on the street.

A high valuation (or market appraisal) may be an incentive for you to sign on the dotted line on a sole agency basis but when there are no potential buyers through the door, this manipulative tactic will induce you to reduce – still leaving you with being tied to the same agency.

A low valuation will attract buyers around a honey pot but leave you ripped off when you under sell. It is only the Real Estate Agent who benefits from a fast turnaround and quick commission rather than you.

Ensure that you research recent local home transactions to ensure that you are aware of the going rate for your type of property.


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The NAEA Symbol

www.naea.co.uk
www.naea.co.uk

Real Estate Tips 3 : Selling Your House? Negotiate Your Fees!

Negotiate your Agency fees. The average is 1.75% of the selling price,(sole agency) rising to 3% (multi-agency). If you calculate it… that is a massive £15,000 on a £500,000 house PLUS VAT!

Watch the trends in the property market. If there is a shortage of property in your location, do a deal and reduce the costs!

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The National Association of Estate Agents

Check for 'The National Association of Estates Agents' declaration. Agents that are with these are bound by rules so as you don’t have to worry about unfair terms and conditions.

Real Estate Tips 4 : Your Seller Contract - What Is In The Small Print?

'Sole Selling Rights' means that if you find a buyer, you still have to pay the Real Estate Agent.

'Sole Agency Contracts' are a way to leave the contract open. The Agent can claim a fee from you months after at which point you end up paying twice the fees for selling your property.

'A ready, willing and able buyer' is one where you will have to pay the estate agent even if the sale falls through.

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Real Estate Tips 5 : Buyers And Sellers : Offers Made In Writing

Unless you have instructed a Real Estate Agent to destroy unreasonable offers, which you have previously instructed, your agent is legally bound to inform you of all offers made in writing.

  • Ensure that you receive all offers in writing
  • If you have made an offer, make sure that the Estate Agent has forwarded the offer in writing.

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Selling Your Property? Thought Of Doing It Yourself?

Estate agents don’t need any qualifications to sell your house.  You might be able to do the job better.  There is nothing to stop anyone from setting up an Real Estate Agency!

Real Estate Tips 6 : Marketing Your Property: What To Expect

Many Estate Agents will give you spiel about marketing your property and how expensive it is. However, you should expect at least:

  • Feedback after viewings
  • Advertisements in local newspapers
  • Linking to property websites.

It is helpful if your real estate agent puts your property in the window, rings up his list of potential buyers and sends out mail-shots for others to peruse. If they are not doing this, ask why.

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People Spend More Time Choosing A Holiday Than Their Home

It is useful to know that people spend more time in choosing a holiday than they do a home:

  • The decision to buy a home stems from a viewing time of, on average, one and a half hours.
  • People spend two hours deciding where they are going on holiday!

Real Estate Tips 7 : Home Buyer: Excuses, excuses, excuses - Just Spiel!

Don’t put up with excuses and assumptions that your estate agent might make. Examples are:

  • Most homes sell after 6 months and only one in five homes sell within the first month.
  • Buying decisions are made by women – men just go with this – so sell to the woman!
  • A good negotiator is one that comes up with a sale fast.

These are all spiel to get you off their backs!

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Property Sales: A Bidding War!

The sales negotiator loves a bidding war on a property.  It increases the sales price and makes for an easy life.  The more that's offered - the greater the commission.  Why wouldn't the estate agent want an easy life?

Property Sales Complaints Procedure

Complaints can be sent to the property ombudsman at:


Real Estate Tips 8 : Want A Mortgage? Real Estate Agencies Want To Keep It All In House

If you are a buyer, the real estate agent loves to sell you a mortgage and insurance. This isn’t because they want to provide you with a great service. They want your money and get referral commissions on the products. It is a business, after all! To further this, they can also keep control of the whole process - leaving them knowing more about you than you!

Why don’t you shop around for the best deal from an independent mortgage broker instead? You can always check out the internet for best mortgage deals around and then make an application to an independent broker.

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Real Estate Tips : The Most Important Tip Of All Is That The Estate Agent Is Not Your Friend!

Did you find these real estate tips useful?  I am sure that you are now armed with the ammunition that you require to go out into the world of house buying and selling - with all of it's pitfalls!  Watch out for hidden manipulative techniques designed to trip you up.  In the world of buying and selling property, it is buyer beware!  This is whether you are a seller - remember, that sellers's are still buying a service from the Estate Agent - or house buyer.  Go off into this world with your eyes wide open and, although he or she would like you to think so, the Estate Agent is not your friend!

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Tips To Help Sell Your Home

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Comments

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    • vikassingal2002 profile image

      vikassingal2002 

      8 years ago from India

      You always do well....

    • shazwellyn profile imageAUTHOR

      shazwellyn 

      8 years ago from Great Britain

      idreesfarooq - Thank you for your support:)

    • idreesfarooq profile image

      idreesfarooq 

      8 years ago from fiverr dot com/idreesfarooq

      Once again great hub with very good suggestions and advice. Thanks for sharing! Voted up

    • shazwellyn profile imageAUTHOR

      shazwellyn 

      8 years ago from Great Britain

      Pamela99 - it is all sensible advice which, sometimes, people just dont think about. Thanks for commenting :)

    • Pamela99 profile image

      Pamela Oglesby 

      8 years ago from Sunny Florida

      This is an excellent hub with very good advice, especially now when homes are so hard to sell.

    • shazwellyn profile imageAUTHOR

      shazwellyn 

      8 years ago from Great Britain

      k9 - great addition to my article - thanks K9!

    • K9keystrokes profile image

      India Arnold 

      8 years ago from Northern, California

      Your advice here is priceless for the house buyer or seller. Curb appeal makes such a huge difference in a house selling in 20 days or 120 days! Real estate agents are quite different than a Realtor. One works for the sake of a check, and the other works for the sake of her client!

      Great job here.

      K9

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